Storm Resources has entered into an agreement with a syndicate of underwriters led by FirstEnergy Capital Corp. and including National Bank Financial Inc., Peters & Co. Ltd., Macquarie Capital Markets Canada Ltd., and RBC Capital Markets (collectively the "Underwriters") to issue, on a bought deal basis, 9,580,000 common shares ("Common Shares") of Storm, at a price of $1.88 per Common Share, for aggregate gross proceeds of $18,010,400 (the "Bought Deal Financing").

In addition, contemporaneous with the completion of the Bought Deal Financing, Storm announces that it shall issue up to 2,700,000 Common Shares to certain investors identified by Storm, including directors, officers, and employees of Storm, at a price of $1.88 per Common Share, for aggregate proceeds of up to $5,076,000 (the "Non-Brokered Financing", and together with the Bought Deal Financing, the "Offering"). Aggregate gross proceeds from the Offering are up to $23,086,400 with up to 12,280,000 Common Shares being issued.

Tags: Storm Resources Ltd.