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  • Phenom Resources (PHNM) has announced a non-brokered private placement to raise total gross proceeds of up to $1,650,000
  • The company will issue up to 5,500,000 units for $0.30 per unit
  • Phenom Resources Corp is engaged in the exploration of gold and copper as well as vanadium on its properties
  • Phenom Resources Corp is engaged in the exploration of gold, copper, and vanadium on its properties
  • Phenom Resources Corp. (PHNM) is up 1.49 per cent on the day, trading at C$0.34 per share at 1:15 pm ET

Phenom Resources (PHNM) has announced a non-brokered private placement to raise total gross proceeds of up to $1,650,000.

The company will issue up to 5,500,000 units for $0.30 per unit. Each unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.50 for a period of 3 years.

The company also retains an over-allotment option which will permit it to issue up to an additional 550,000 units for up to an additional $165,000 if circumstances warrant.

The gross proceeds will be used for work programs on the company’s exploration properties and general working capital.

All securities issued will be subject to a statutory four-month hold period.

Phenom Resources Corp is engaged in the exploration of gold, copper, and vanadium on its properties.

Phenom Resources Corp. (PHNM) is up 1.49 per cent on the day, trading at C$0.34 per share at 1:15 pm ET.


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