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Toronto, Ontario--(Newsfile Corp. - June 26, 2025) - Landore Resources Canada Inc. (the "Acquiror") has today filed an early warning report (the "Early Warning Report") advising that on June 26, 2025, the Acquiror received 6,239,385 new common shares (the "Acquired Shares") in the capital of Storm Exploration Inc. ("Storm") pursuant to settlement of the remainder of the instalment payment due on March 20, 2025 under a property option agreement dated May 5, 2021, as amended (the "Purchase Agreement"), pursuant to which Storm can acquire the rights to certain mining claims situated in the Pickle Lake area (specifically, the Miminiska Lake and Keezhik Lake areas), Thunder Bay Mining District, northern Ontario, in exchange for a series of certain cash and share issuances to the Acquiror.
The Acquiror received the Acquired Shares in Storm at a deemed price of $0.033005 per share or $205,930.90 in the aggregate. The Acquired Shares increased the Acquiror's overall holding in Storm to approximately 17.4% of its outstanding common shares on an undiluted basis. Immediately prior to the issue, the Acquiror had beneficial ownership over 6,833,550 common shares in Storm representing approximately 8.9% of Storm's then outstanding common shares on an undiluted basis.
The shares are being held for investment purposes. The Acquiror has a long-term view of the investment and may acquire additional shares of the Company either on the open market or through private acquisitions or sell the shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
This news release is being issued as required by National Instrument 62-104 - Take-Over Bids and Issuer Bids and relates to the Company, whose head office is Suite 1480, 885 West Georgia Street, Vancouver, B.C., Canada V6C 3E8. A copy of the Early Warning Report can be obtained at www.sedarplus.ca under the Company's profile, or by contacting Michele Tuomi at 555 Central Avenue, Suite 1, Thunder Bay, Ontario, Canada, P7B 5R5, telephone: (807) 623-3770.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257028
