Phenom Closes $1,619,500 First Tranche of Private Placement Financing
February 13, 2025 – Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM; OTCQX®: PHNMF; FSE: 1PY0) (“Phenom” or the “Company”) announces that it has closed on a first tranche (“First Tranche”) of its non-brokered private placement (the “Offering”) previously announced on January 31, as updated February 4, 2025. In this First Tranche, the Company has issued 6,478,000 Units (the “Units”) at a price of $0.25/Unit for gross proceeds of $1,619,500. In connection with the First Tranche, the Company paid a total of $7,450 as finder’s fees.
Each Unit comprises one common share in the capital of the Company (“Share”) and one transferable Share purchase warrant of the Company (“Warrant”), whereby each Warrant entitles the holder thereof to purchase one additional Share (“Warrant Share”) at an exercise price of $0.35 at any time before 5:00 p.m. (Vancouver time) on February 13, 2028, being the third anniversary of the date of issuance.
All securities issued under the Offering are subject to a hold period expiring June 14, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
Closing of a second and final tranche of the Offering is expected to occur on or before February 26, 2026.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
ON BEHALF OF PHENOM RESOURCES CORP.
per: “Paul Cowley” CEO & President
T: (604) 340-7711 E: pcowley@phenomresources.com W: www.phenomresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance and include the Company’s ability complete the proposed non-brokered private placement financing on the terms as described above. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
