VANCOUVER, BC / ACCESSWIRE / September 3, 2024 / Storm Exploration Inc. (TSXV:STRM) ("Storm" or the "Company") today announced it has engaged Altitude Capital Consultants Inc. ("Altitude") led by well known capital markets practitioner, Michael A. Wekerle.
Bruce Counts, President and CEO stated, "Storm is pleased to be working with Altitude to expand its capital markets presence. Mr. Wekerle's experience in capital markets is extensive and he has a remarkable track record of success in the industry. This engagement will allow Storm to benefit from his knowledge of the industry as well as his enviable network of investors and financial institutions. Altitude's capital markets advice to the Company will be invaluable as we focus our efforts on advancing the Miminiska gold project, located in northwestern Ontario."
Michael Wekerle believes that Storm's's Miminiska project is "Perfectly timed to capitalize on current market conditions, particularly due to the increasing demand for gold as a safe-haven asset. I see the project's rich mineral potential, coupled with its strategic location in a stable jurisdiction, as aligning perfectly with the current economic landscape. This, combined with innovative exploration strategies, makes the Miminiska project a "perfect storm" of opportunity for investors looking to capitalize on gold's enduring value."
Mr. Wekerle has had a very successful career in capital markets. Early in his career he joined First Marathon and quickly rose up to become the head trader for the firm, where he was a key player in Roger's takeover of McLean Hunter in 1994. He then joined GMP (Griffiths McBurney and Partners) as Vice Chairman of trading, where he was involved with the 1997 initial public offering of Research in Motion (RIM). In 2012, he formed his own firm, Difference Capital, where he invested in companies such as Thunderbird Films, Vision Critical, Appinions and HootSuite. Mr. Wekerle is well known for the 4 seasons (seasons 9 through 12) that he was an investor on the Canadian television show, Dragon's Den.
The Company has granted stock options in accordance with the terms and conditions of its rolling Stock Option Plan, entitling the purchase of an aggregate two million fifteen thousand common shares by certain directors, management and consultants to the Company. Each stock option will be exercisable at $0.07 per common share with one million expiring September 2, 2027 and the remainder expiring September 2, 2029. The grant of sixty five thousand of the September 2, 2029 expiring options is subject to the approval of the TSX Venture Exchange.
Fort Hope Projects
The Miminiska, Keezhik and Attwood properties are located within the traditional territory of the Eabametoong First Nation with whom Storm signed an Exploration Agreement see news release dated May 23rd, 2024 here). The properties projects are located within the Miminiska-Fort Hope greenstone belt, approximately 350 kilometres north of the city of Thunder Bay, Ontario. Each project has the potential to host a multi-million-ounce orogenic gold deposit. In addition, the Attwood project also has the potential to host a significant base metal deposit.
The Miminiska property is the Company's primary focus and hosts drill confirmed, high-grade gold mineralization at two primary prospects: Miminiska and Frond (refer to Figure 1). Historical assays include 5.75g/t Au over 20.84m* and 13.95g/t Au over 5.32m* with mineralization hosted in banded iron formation and associated shear zones.
Figure 1: Miminiska Property
* Historical results have not been independently verified by Storm; and, there is no guarantee that the Company can reproduce the results in whole or in part. Potential investors should not rely on these historical results when making an investment decision.
Next Steps
Plans for a financing to support exploration work at the Miminiska prospect will be announced in the coming days.
About Storm Exploration Inc.
Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company's strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
