- Phenom Resources (TSXV:PHNM:CA) (OTCQX:PHNMF) proposed to undertake a non-brokered private placement of up to 5.88B units at a price of $0.17/unit to raise total gross proceeds of up to $999,600.
- 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 $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 $99,960 if circumstances warrant at the time of closing.
- The gross proceeds received from the sale of the Units will be used for work programs on the company's exploration properties and for general working capital.