Silver Storm Mining (TSX-V:SVRS) has doubled its non-brokered private placement to C$15 million ($15.15 million) following ‘strong’ investor demand.
The company is now offering up to 30 million units at C$0.50 each, compared with 15 million units under the original placement announced on 21 August 2026.
Each unit comprises one common share and half a purchase warrant. Each whole warrant is exercisable at C$0.70 per share for 18 months after the placement closes.
Silver Storm may pay cash commissions of up to 3% of subscription amounts to eligible parties that introduce investors, subject to securities laws and TSX Venture Exchange (TSX-V) policies.
The company plans to use the proceeds for surface and underground drilling at its La Parrilla Silver Mine Complex in Durango, Mexico, as well as for working capital and general corporate purposes.
CEO Greg McKenzie says the placement will add a strategic resources investor to the company’s register while maintaining the support of investor Eric Sprott.
“Their backing validates the quality of our portfolio and provides additional capital to advance our growth programs,” McKenzie says.
“Together with Eric Sprott’s continued support, this addition to our shareholder registry positions Silver Storm to accelerate its underground and surface drilling program at La Parrilla and its broader initiatives.”
The units are being offered to accredited investors under Canadian prospectus exemptions and will carry a four-month-and-one-day holding period.
The placement is expected to close on or about 25 August 2026, subject to customary conditions including approval from the TSX-V. Sprott’s participation remains unchanged from the original announcement.
Silver Storm is advancing its wholly owned La Parrilla complex, which comprises a 2,000-tonne-per-day processing plant and three underground mines transitioning towards production. The company also owns the San Diego Project, one of Mexico’s largest undeveloped silver projects.
Write to France Pinzon at Mining.com.au
Images: Silver Storm Mining
