On February 15, 2024, Phenom Resources Corp closed the transaction. The company issued 6,468,000 Units at a price of CAD 0.17 per Unit for gross proceeds of CAD 1,099,560. In connection with the Offering, the Company paid a total of CAD 6,473.60 as finder?s fees. Each Unit comprises one common share and one transferable Share purchase warrant whereby each Warrant entitles the holder thereof to purchase one additional Share at an exercise price of CAD 0.27 on February 15, 2027, being the third anniversary of the date of issuance. Over 55% of the placement went to 11 institutional investors. All securities issued under the Offering are subject to a hold period expiring June 16, 2024, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The transaction was oversubscribed.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 27 placees, 4 existing insiders for 376,646 units and 2 pro groups for 210,000 units.