Phenom Provides Clarification on Private Placement Financing

Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company”) wishes to clarify its January 19, 2024, news release (the “Initial News Release”), regarding its proposed non-brokered private placement offering as the maximum number of securities to be issued had previously been misstated.

For clarification, the Company proposes to undertake a non-brokered private placement of up to 5,880,000 units (the “Units”) at a price of $0.17/Unit to raise total gross proceeds of up to $999,600 (the “Offering”). Each Unit will continue to be comprised of one common share (“Share”) and one Share purchase warrant (“Warrant”), whereby each Warrant will entitle the holder thereof to purchase one Share for a period of three years at a price of $0.27. The Company continues to retain 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.

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