Storm Ventures Cinches $31MM Equity Offering

Storm Ventures International Inc. has completed a non-brokered private placement of 5,009,100 common shares at a price of $6.25 per common share for total gross proceeds of $31,306,875. The proceeds from the issue will be used to fund SVI's ongoing exploration and development activities in Tunisia and general corporate expenditures.

"We are extremely pleased with the support shown by our existing shareholders in supporting the next phase of our growth" said Matthew J. Brister, President and Chief Executive Officer of SVI.