Goldstorm raising $4.0 million for Golden Triangle exploration
Goldstorm Metals Corp. [GSTM-TSXV] has announced details of a non-brokered private placement financing that is expected to raise gross proceeds of $4.0 million.
The company said the private placement will consist of a combination of HD units priced at 20 cents each, flow through units (FT units) priced at 24 cents each, as well as Charity FT Units priced at 31 cents per unit.
Each HD unit will consist of one common share, and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of 30 cents for 36 months after closing.
Each FT Unit and Charity FT unit will consist of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one half of one warrant to be issued on a non-flow through basis.
Proceeds are earmarked for exploration expenses in British Columbia to be incurred on or before December 31, 2027, and renounced with an effective date no later than December 31 2026 to the initial purchasers of the FT and CFT units. The offering is expected to close during the week of April 30, 2026.
On Friday, Goldstorm shares eased 8.3% or $0.02 to 22 cents. The shares trade in a 52-week range of 35 cents and $0.075.
Goldstorm holds a large strategic land position in British Columbia’s Golden Triangle region. Goldstorm’s flagship projects, Crown and Electrum cover an area that totals 16,469 hectares over six concessions, of which five are contiguous. The Crown Project is situated directly south of Seabridge Gold Inc.’s [SEA-TSX, SA-NYSE] KSM gold-copper deposits and Newmont Corp. [NEM-NYSE] Brucejack/Valley of the Kings gold mine. Electrum is situated directly between the Brucejack mine, approximately 20 kilometres north, and the past-producing Silbak Premier mine, 20 kilometres to the south.
Back in January 2026, Goldstorm announced its 2026 strategy to advance the Crown Property. Plans include launching a Phase 1 drill program of approximately 3,000 metres and targeting the Copernicus gold and copper geochemical trend overlying a 1.2-kilometre-long IP chargeability anomaly. The company said it intends to pursue a Phase 2 drill program of approximately 6,000 metres should the results of Phase 1.0 drilling at the Orion Spine and Copernicus warrant it.
Goldstorm aims to expand the size of its Delta West discovery which consists of multiple high-grade, gold-bearing, shear-hosted, parallel structures with prospecting, mapping and sampling programs. It will also prospect, map and sample the Electrum, Fairweather and Delta claims (EFD), where the precious metals EFD Trend has produced high-grade gold and ultra high-grade silver values from historical prospecting and sampling. In a subsequent press release on April 8, 2026, the company said the Copernicus Zone hosts very prospective drill targets within an area measuring 1.2 kilometres north-south by 800 metres east-west, centrally located on the Crown Property.