Phoenix Copper Corporation (TSXV:PHC) announced a non brokered private placement of 10,000,000 units at CAD 0.075 per unit for gross proceeds of CAD 750,000 on January 8, 2013. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at CAD 0.15 per share for the first year and CAD 0.20 per share for the second year from closing. The company may pay a finders' fee on the proceeds to certain parties in accordance with the policies of and subject to the approval of the TSX venture exchange.

On March 8, 2013, the company closed its first tranche. It issued 1,623,067 units for gross proceeds of CAD 121,730. It paid CAD 1,200 as finder's fees. All securities issued are subject to a hold period of four months.