Phenom Resources arranges $704,000 private placement

Executive Summary

• Phenom Resources Corp. announces a non‑brokered private placement of up to 4.4 million units at $0.16 per unit, targeting gross proceeds of up to $704,000.
• Each unit consists of one common share and one warrant allowing purchase of an additional share at $0.22 for four years.
• Proceeds will fund exploration work programs on Phenom’s Nevada properties and provide general working capital.

Key Details

• Units Offered: Up to 4,400,000 units.
• Price per Unit: $0.16.
• Gross Proceeds Target: Up to $704,000.
• Unit Composition: 1 common share + 1 common‑share purchase warrant.
• Warrant Terms: Right to acquire one additional share at $0.22 per share; exercisable for four years from issuance.
• Use of Proceeds: Exploration work programs on Carlin gold‑vanadium project and other Nevada properties; general working capital.
• Offering Structure: Non‑brokered private placement to qualified purchasers under prospectus/registration exemptions.
• Finder’s Fees: May be paid to eligible arm’s‑length finders in compliance with securities laws and exchange policies.
• Hold Period: All securities subject to a lock‑up of four months + one day from issuance date.
• Regulatory Conditions: Completion contingent on receipt of all required regulatory approvals, including TSX Venture Exchange approval.

Notable Quotes

(No direct quotes were provided in the release.)