Phenom Resources closes CAD$ 5.41 million private placement with SSR Mining affiliate

SSR Mining Inc

SSRM

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Phenom closed a non-brokered private placement of 13,529,340 common shares at CAD 0.40, raising gross proceeds of CAD 5.41 million.
SSR Mining affiliate was the sole investor, taking an about 9.9% undiluted stake.
Proceeds include USD 1.3 million to complete payments and work to earn 100% of the Dobbin Project in Nevada.
SSR received participation and top-up rights to increase ownership up to 19.9% while holding at least 4.9%, subject to a two-year standstill.
Framework agreement grants SSR an option to buy 15% of Dobbin for USD 4 million, with funds earmarked to advance the project.

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