- Phenom Resources (PHNM) has announced plans for a non-brokered private placement for gross proceeds of up to $3,000,000
- The company will issue up to 6,000,000 units at a price of $0.50 per unit
- Several company insiders will participate in the offering
- Proceeds will be used for work programs on the company’s exploration properties
- Phenom Resources Corp is engaged in the exploration of gold and copper as well as vanadium on its properties
- Phenom Resources Corp. (PHNM) opened trading at C$0.49 per share
Phenom Resources (PHNM) has announced plans for a non-brokered private placement for gross proceeds of up to $3,000,000.
The company will issue up to 6,000,000 units at a price of $0.50 per unit. Each unit will include one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.75 for a period of 4 years after the closing of the offering.
Rob McEwen plans to subscribe to half of the proposed financing. Eric Muschinski plans to subscribe for 1,000,000 Units and Tookie Angus, business advisor for Phenom is also expected to add to his share position.
The gross proceeds will be used for work programs on the company’s exploration properties and for general working capital.
All securities issued will be subject to a four-month statutory hold period.
Phenom Resources Corp is engaged in the exploration of gold and copper as well as vanadium on its properties.
Phenom Resources Corp. (PHNM) opened trading at C$0.49 per share.