Non-GAAP Measures. This press release refers to the terms "enterprise value" and "annualized funds flow" which are not recognized under Generally Accepted Accounting Principles ("GAAP") and are regarded as non-GAAP measures. These non-GAAP measures may not be comparable to the calculation of similar amounts for other entities and readers are cautioned that use of such measures to compare enterprises may not be valid. Non-GAAP terms are used to benchmark operations against prior periods and peer group companies and are widely used by investors, analysts and other parties. "Enterprise value" is calculated as market capitalization plus debt including working capital deficiency. Management believes that enterprise value provides a useful measure of the market value of Storm's debt and equity. "Market capitalization" is calculated as share price multiplied by the number of shares outstanding. Management believes that market capitalization provides a useful measure of the market value of Storm's equity. "Annualized funds flow" is calculated based on funds flow from operating activities for the most recently completed, or referenced, half-year.

SOURCE Storm Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/November2021/09/c1816.html

/CONTACT:

Brian Lavergne, President and Chief Executive Officer, Storm Resources Ltd., #600, 215 - 2 Street SW Calgary, Alberta T2P 1M4, (403) 817-6145

Copyright CNW Group 2021