BRÈVE

sur Storm Exploration Inc. (isin : CA5368731025)

Storm Exploration Completes Shares for Debt Transaction

Storm Exploration Inc., based in Vancouver, BC, announced the completion of its Shares for Debt transaction on March 20, 2024. This transaction allowed the company to settle a total debt of $210,000 owed to both arm's length and non-arm's length creditors. In exchange, Storm issued a total of 4,200,000 common shares at a deemed price of $0.05 per common share.

An interesting aspect of this transaction is the insider portion, which accounted for $160,000 of the total debt. This portion is exempt from valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101, due to the fair market value of the consideration not exceeding 25% of the company's market capitalization. Furthermore, all issued common shares are subject to a hold period of four months and one day.

This move by Storm Exploration showcases strategic financial management to address its indebtedness, potentially improving its financial health without immediate cash expenditures. However, investors and stakeholders are encouraged to consider the inherent uncertainties in forecasted statements regarding the company's future.

R. E.

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