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Phenom Resources Corp. — Capital/Financing Update 2023
Jul 12, 2023
46001_rns_2023-07-12_8668175e-b1ab-4aa7-96c5-5a482854771c.pdf
Capital/Financing Update
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Form 51-102F3 Material Change Report
Item 1: Name and Address of Company
Phenom Resources Corp. 1100 - 1199 West Hastings Street Vancouver, BC V6E 3T5
Item 2: Date of Material Change
July 12, 2023
Item 3: News Release
News Release dated July 12, 2023 disseminated via Newsfile Corp.
Item 4: Summary of Material Change
On July 12, 2023, the Company announced that 9,151,582 warrants priced at $0.26 with an expiration of July 9, 2023 were exercised, adding a total of $2,795,992 to the treasury over 3 years; an 85% exercise rate. In July 2023 alone, 4,756,009 of the warrants were exercised for proceeds of $1,236,586. The warrants were offered in connection with a $1,600,000 financing which closed on July 9, 2020. The Company now has a total of 95,003,664 shares issued and outstanding.
Item 5: Full Description of Material Change
On July 12, 2023, the Company announced that 9,151,582 warrants priced at $0.26 with an expiration of July 9, 2023 were exercised, adding a total of $2,795,992 to the treasury over 3 years; an 85% exercise rate. In July 2023 alone, 4,756,009 of the warrants were exercised for proceeds of $1,236,586. The warrants were offered in connection with a $1,600,000 financing which closed on July 9, 2020. The Company now has a total of 95,003,664 shares issued and outstanding.
Paul Cowley Company President and CEO commented “I am extremely pleased to report a successful warrant exercise for the Company. I would like to thank shareholders for their vote of confidence in the Company’s exploration roadmap. Recent proceeds from the warrant exercise will be used to fund drilling this summer and an NSR extension payment on the Carlin Gold-Vanadium Project, for the initial evaluation of the recently optioned Crescent Valley gold project, for advancing Company initiatives and for working capital”.
Item 6: Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
N/A
Item 7: Omitted Information
N/A
Item 8: Executive Officer
Paul S. Cowley President, CEO and Director Tel: (604) 340-7711
Item 9:
Date of Report
July 12, 2023
“Paul Cowley”
Paul Cowley, President & CEO