Phenom Resources Corp. announced a non brokered private placement of up to 5,880,000 units at a price of CAD 0.17 per unit for the gross proceeds of CAD 999,600 on January 19, 2024. Each unit will be comprised of one common share and one warrant.

Each whole warrant will entitle the holder thereof to purchase one common share for a period of 3 years at a price of CAD 0.27. The company also retains a 10% over-allotment option which will permit it to issue up to an additional 588,000 Units for up to an additional CAD 99,960 if circumstances warrant at the time of closing. A finder?s fee may be paid to eligible finders in relation to this financing, subject to compliance with applicable securities laws and the policies of the TSX Venture Exchange.

All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.