TORONTO–(BUSINESS WIRE)–Silver Storm Ltd. (Silver Storm or the “Company“) (TSX.V: SVRS | OTC: SVRSF | FSE: SVR) announces the Company’s transition and succession plan for the role of Chief Financial Officer (CFO). Mr. Carmelo Marrelli, the Company’s current CFO, will be stepping down from his position once a suitable successor is appointed. To ensure a smooth transition, the Company has commenced the search for a new CFO, however Mr. Marrelli will remain available as needed to facilitate a seamless transition of responsibilities to his successor.
Carmelo has been a valuable member of our team, providing financial expertise over many years helping the Company transition from explorer through the acquisition of La Parrilla,” said Greg McKenzie, President and CEO. On behalf of the Board of Directors, shareholders, and the entire team, I want to extend our heartfelt thanks to Carmelo for his years of commitment.”
Private Placement Amendments
The Company announces amendments to its previously completed private placement offering (the Offering) as described in the Company’s news releases dated March 6, 2023, March 30, 2023, April 14, 2023, May 30, 2023, and August 14, 2023.
The total number of common shares of the Company issued pursuant to the Offering totaled 35,392,610, rather than the previously stated amount of 35,317,610. The number of common share purchase warrants issued totaled 17,696,305, versus the previously stated amount of 17,658,805.
Cash finders’ fees paid pursuant to the Offering totaled $124,990 rather than the $133,990 previously stated. The number of finders’ warrants issued totaled 620,700 as opposed to the previously stated amount of 670,950. As such, Red Cloud Securities Inc. received $2,100 cash finder’s fees and 10,500 finder’s warrants, and Canaccord Genuity Corp. received 242,700 finder’s warrants.
Agreement with Epstein Research
The Company has entered into an advertisement services agreement with Peter Epstein (Epstein Research) on September 6, 2024, to increase investor engagement and create more awareness for the Company, starting on October 1, 2024. Epstein Research’s engagement is for an initial term of six (6) months and is subject to renewal or cancellation in accordance with its terms (the Term). Epstein Research operates from New York, New York, and provides promotional services, including social media and online advertising of the Company posted on Epstein Research homepage, CEO.ca, Substack, and Linked-In;…
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