07:51 AM EST, 01/17/2025 (MT Newswires) -- Silver Storm Mining ( SVRSF ) said Friday that it closed the third tranche of its private placement, boosting total proceeds to $1.3 million.

The company raised $784,500 in the third tranche that comprised 8,716,667 units priced at $0.09 apiece. Each unit consists of common share and one warrant exercisable at $0.16 per share for 36 months.

The tranche included a $500,000 investment from major shareholder Eric Sprott.

The company said it is extending the offering period for up to an additional 30 days, ending Feb. 19.