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Vancouver, British Columbia--(Newsfile Corp. - February 4, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") announces that further to its news release of January 31, 2025, it has received overwhelming interest above the previously announced non-brokered private placement offering of up to $1,500,000 (including the over-allotments option). Accordingly, the Company is increasing this offering such that it now proposes to sell up to 7,400,000 units (the "Units") at a price of $0.25/Unit to raise total gross proceeds of up to $1,850,000 (the "Offering"). The Company also retains an approximately 10% over-allotment option which will permit it to issue up to an additional 740,000 Units for up to an additional $185,000 if circumstances warrant at the time of closing.
Each Unit will be comprised of one common share and one warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of 3 years at a price of $0.35. 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. All other terms of the offering remain as set out in the Company's January 31, 2025 news release. The offering remains subject to compliance with applicable securities laws and the policies of the TSXV.
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.
About Phenom Resources Corp.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, located six miles south from the town of Carlin, Nevada, and Highway I-80 in Elko County, which hosts the Carlin Vanadium deposit, North America's largest highest grade primary vanadium resource. The Company has options on three gold projects in Nevada - the Dobbin and King Solomon Properties, which are Carlin Gold-type targets, and the Crescent Valley Property, a Bonanza high grade gold vein-type target.
ON BEHALF OF PHENOM RESOURCES CORP. per: "Paul Cowley" CEO & President
(604) 340-7711 pcowley@phenomresources.com www.phenomresources.com