Storm Exploration Announces Non-Brokered Private Placement

(Not for distribution to the United States news wire services or for dissemination in the United States)

VANCOUVER, BC / ACCESSWIRE / March 14, 2024 / Storm Exploration Inc. (TSX-V:STRM) ("Storm", or the "Company") today announced that it will conduct a non-brokered private placement (the "Offering"), subject to the approval of the TSX Venture Exchange (the "Exchange"), for aggregate gross proceeds of up to $300,000.

The Offering will consist of units (the "Units") at a price of $0.05 per Unit. Each Unit will consist of one common share of the Company and one-half warrant (a "Warrant") each whole Warrant entitling the holder thereof to acquire an additional common share (the "Warrant Share") of the Company at an exercise price of $0.075 per Warrant Share for a period of 36 months from the date of issuance.

The Offering is not subject to a minimum amount and the maximum gross proceeds of the Offering is $300,000. Under the Offering, a maximum of 6,000,000 common shares of the Company and 3,000,000 Warrants will be issuable under the Units. The gross proceeds of the Offering will be used for general working capital purposes. If the Offering is over-subscribed, subscriptions will be accepted at the discretion of the Company and subject to the approval of the Exchange; therefore, it is possible that a subscriber's subscription may not be accepted by the Company even though it is received within the Offering period unless the Company determines to increase the size of the Offering.

The Offering will be conducted pursuant to available prospectus exemptions including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company, to purchasers who have obtained suitability advice from a registered investment dealer pursuant to the exemption set out in BC Instrument 45-536 (the "Investment Dealer Exemption") and to existing shareholders of the Company pursuant to the exemption set out in British Columbia Securities Commission BC Instrument 45-534 (the "Existing Shareholder Exemption").

The Existing Shareholder Exemption is primarily meant for investors that do not qualify as an accredited investors and available to shareholders residing in all Canadian jurisdictions. Shareholders of record of the Company as at March 8, 2024 (the "Record Date") are eligible to participate under the Existing Shareholder Exemption. To rely upon the Existing Shareholder Exemption, the subscriber must: a) have been a shareholder of the Company on the Record Date and continue to hold shares of the Company until the date of closing of the Offering, b) be purchasing the Units as a principal, and c) either may not subscribe for more than $15,000 of securities from the Company in any 12 month period or have received advice from a registered investment dealer regarding the suitability of the investment. Existing shareholders interested in participating in the Offering should consult their investment advisor or the Company directly.