Storm Exploration Announces Share Issuance for Option Payment

Storm Exploration Inc. has announced the issuance of 6,239,385 common shares to Landore Resources Canada Inc. The shares are part of a payment under an option agreement for the Miminiska and Keezhik properties. The recent transaction brings the total shares issued to 8,332,071, representing a $275,000 cash installment. As a result, Landore holds about 15.8% of Storm's shares currently.

The share issuance follows the 30-day VWAP, adhering to terms requiring TSXV approval. The shares are subject to a voluntary pooling arrangement and a four-month hold period. The option agreement aims for Storm to acquire full interest in the properties, subject to certain conditions.

Additionally, Storm announced the resignation of board member Michael Sweatman, with the search for an independent director underway. The company extends gratitude to Sweatman for his contributions over five years.