Phenom Announces $1,985,000 Closing of Over-subscribed Private Placement Financing
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Phenom Announces $1,985,000 Closing of Over-subscribed Private Placement Financing
March 14, 2025 - Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM; OTCQX®: PHNMF; FSE:
1PY0) (“Phenom” or the “Company”) announces that it has closed the third and final tranche of its over-subscribed
non-brokered private placement (the “Offering”) previously announced on January 31, as updated February 4,
2025. In this third tranche, t he Company issued 962,000 Units (the “Units”) at a price of $0. 25/Unit for gross
proceeds of $240,500. In connection with the third tranche of the Offering, the Company paid a total of $3,000.00
in finder’s fees. Aggregate proceeds from all three tranches raised a total of $1,985,000, by the issuance of a total
of 7,940,000 Units. A total of $11,325.00 cash was paid in finder’s fees for the entire Offering.
Each Unit in the third tranche 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 March 14, 2028, being the third anniversary of the date of issuance.
Mr. John Anderson, a director of the Company (the “Insider”) participated in the Offering, purchasing 100,000 Units
for gross proceeds of $25,000. Participation by the Insider in the Offering is considered “related party transactions”
pursuant to Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special Transactions (“MI
61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder
approval in connection with the Insider’s participation in the Offering, in reliance of sections 5.5(a) and 5.7(a) of MI
61-101, respectively, on the basis that participation in the Offering by the Insider did not exceed 25% of the fair
market value of the Company’s market capitalization. The Company did not file a material change report in respect
of the related party transaction at least 21 days before the closing of the Offering, which the Company deems
reasonable in the circumstances as the details of the participation by insider of the Company were not settled until
shortly prior to closing the third tranche of the Offering and the Company wished to complete the Offering in an
expeditious manner.
All securities issued under the Offering are subject to a hold period expiring July 15 , 2025, in accordance with
applicable securities laws and the policies of the TSX Venture Exchange.
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
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 use of proceeds raised in the Offering. 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 diffe r 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 inv estors 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 inten tion 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.