Phenom Resources Corp. Announces Closure of Oversubscribed Private Placement
Vancouver, British Columbia – March 14, 2025 – Phenom Resources Corp. (TSXV: PHNM, OTCQX: PHNMF, FSE: 1PY0) (“Phenom” or the “Company”), is pleased to announce that it has successfully closed the third and final tranche of its over-subscribed non-brokered private placement (the “Offering”). This announcement comes following the earlier press releases on January 31, 2025, and February 4, 2025.
Details of the Third Tranche
In this third tranche, Phenom issued a total of 962,000 Units (the “Units”) at a price of $0.25 per Unit, raising gross proceeds of approximately $240,500 for the Company.
Overview of the Private Placement
The Offering was originally announced on January 31, 2025, with the Company intending to issue up to 12,000,000 Units at a price of $0.20 per Unit for gross proceeds of up to $2,400,000. However, due to strong investor demand, the Company increased the size of the Offering to up to 15,000,000 Units, raising the maximum gross proceeds to $3,750,000.
Impact on Phenom
The successful closure of the Offering will provide Phenom with significant financial resources to further advance its exploration and development activities. The Company plans to use the net proceeds from the Offering for exploration and development activities on its mineral projects, working capital, and general corporate purposes.
Impact on the World
The mining industry plays a crucial role in the global economy, contributing to the production of essential minerals and metals. Phenom’s successful fundraising efforts are a positive sign for the sector as a whole, indicating continued investor confidence in the industry. Furthermore, the proceeds from this Offering will contribute to the exploration and potential discovery of new mineral resources, which can lead to economic growth and job creation in the regions where these resources are located.
Conclusion
Phenom Resources Corp.’s successful closure of the third and final tranche of its oversubscribed private placement is a significant milestone for the Company. With the raised funds, Phenom will be able to advance its exploration and development activities, contributing to the mining industry’s growth. Moreover, the positive sentiment surrounding the mining sector is a promising sign for the global economy, potentially leading to new mineral discoveries and economic opportunities.
- Phenom Resources Corp. closes the third and final tranche of its oversubscribed non-brokered private placement.
- The Company issued 962,000 Units at a price of $0.25 per Unit, raising gross proceeds of $240,500.
- The proceeds will be used for exploration and development activities, working capital, and general corporate purposes.
- The mining industry benefits from the strong investor demand, indicating continued investor confidence in the sector.
- New mineral discoveries can lead to economic growth and job creation in the regions where these resources are located.
