MONTREAL, Feb. 22, 2012 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec ("Caisse") announced that it subscribed, by way of a private placement, to
2,353,000 common shares of Storm Resources Ltd. [TSX-V: SRX] ("Storm") representing approximately 5.17% of Storm's currently outstanding
common shares ("Common Shares"), at an average price of CA$3.40 per share for a total subscription
amount of CA$8,000,200 ("Total Subscription Amount ").
The Caisse will be entitled to receive such Common Shares upon the
completion by Storm of the acquisition of Bellamont Exploration Ltd.,
on or prior to April 15, 2012, or at a later date, without paying any
additional consideration or taking further action. The Total
Susbscription Amount will be held in escrow up to that date.
Prior to this subscription, the Caisse held 3,445,000 common shares of
Storm and, following the subscription and the issuance of the Common
Shares, the number of Storm's common shares held by the Caisse will be
5,798,000 or 12.73% of common shares outstanding.
This transaction was made for investment purposes and the Caisse could
increase or decrease its investments in Storm, depending on market
conditions or any other relevant factor.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
For further information:
Caisse de dépôt et placement du Québec
1000, place Jean-Paul-Riopelle
Montréal, Québec H2Z 2B3