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Phenom Announces Letter of Intent for a Strategic Investment Private Placement Financing and Joint Venture with SSR Mining Inc. for 15% Interest in Dobbin Project
Phenom Announces Letter of Intent for a Strategic Investment Private Placement Financing and Joint Venture with SSR Mining Inc. for 15% Interest in Dobbin
About this update from Ssr Mining Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2026) - Phenom Resources Corp. (TSXV: PHNM) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce a letter of intent governing an expected non-brokered private placement investment in Phenom by SSR Mining Inc. ("SSR") and proposed joint venture with SSR for the Company's Dobbin Property located in Nevada.SSR Mining Inc. is a US$6.5B Denver-based gold and silver mining company and the third largest gold producer in the United States. SSR Mining has a portfolio of operating, development and exploration assets across the Americas, including locations in the USA, Canada, and Argentina. SSR's core operating assets include: Marigold mine: An open-pit gold mine in Nevada, USA. Cripple Creek & Victor (CC&V) mine: An open-pit gold mine in Colorado, USA. Seabee mine: An underground gold mine in Saskatchewan, Canada. Puna operations: Located in the Jujuy province, Puna is the largest silver mine in ArgentinaPrivate Placement - Strategic InvestmentIt is proposed that SSR will become a strategic investor in the Company through the non-brokered private placement purchase of 9.9% of the Company's issued and outstanding common shares (calculated on a non-diluted basis, after giving effect to this share issuance) (the "Strategic Investment"). Consequently, under the Strategic Investment, the Company proposes to issue 13,518,353 common shares (the "Shares") to SSR at a price of CAD$0.40/share for total proceeds of CAD$5,407,341.20 (approx. US$3,917,370). The proceeds received from the Strategic Investment are proposed to be used as follows: (i) US$1.3 million will be used towards the remaining payment and work commitments owed by the Company to fully earn a 100% interest in the Dobbin Project; (ii) US$2.5 million will be available for unallocated general working capital of the Company; and (iii) the balance (approx. US$117,370) will be used for general working capital purposes relating to the Dobbin Project. The Shares will be subject to a statutory hold period expiring four months and one day after their issuance, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV"). In addition, SSR has agreed to voluntarily restrict the disposition of the Shares for a period of one (1) year from the closing date (the "Restricted Period"); provided that SSR may sell ...