Mr. Paul Cowley reports

MK PLUS, VANADIUM SOLID-STATE BATTERY COMPANY, ACHIEVES FUNDING MILESTONE OF US$50 MILLION

Private Japanese battery company MK Plus Co. Ltd. has achieved a milestone by securing $50-million (U.S.) of funding which will position it to build its first pilot plant in Japan for its vanadium solid-state batteries and advance its revolutionary fast charging low-cost vanadium battery business world-wide.

Phenom Resources Corp. owns a 5-per-cent equity interest in MK Plus.

Paul Cowley, president and chief executive officer of Phenom, states: "We congratulate MP Plus in securing this funding which will propel its business. Phenom shareholders will benefit from our equity interest in MK Plus as MK Plus grows and succeeds. It is exciting to have a broader position of the growing battery chain future."

The features of MK Plus's vanadium solid-state battery can be highly disruptive to the stationary battery market and potentially the EV (electric vehicle) market space. According to MK Plus's corporate presentation, its battery provides higher desired performance at a lower cost over vanadium redox flow batteries (VRFB) in the large capacity battery market, claiming its battery:

1. Rapidly charges in minutes (C-rate of between 100 and 300 versus C-rate of 20 in VRFB), achieving massive charging speeds 100 times faster;
2. Uses one-10th of the amount of vanadium that VRFB use for an equivalent charge;
3. Has plus-100,000-deep-cycle life without heat dissipation (no fire risk) or degradation (resulting long life);
4. Has been tested at ambient operating temperatures between 100 degrees C and minus 40 degrees C without loss of performance.

We seek Safe Harbor.