Millennial Announces Private Placement of 5,833,333 Units for Proceeds of $3,500,000
Millennial Announces Private Placement of
5,833,333 Units for Proceeds of $3,500,000
West Vancouver, British Columbia--(Newsfile Corp. - March 18, 2025) -
Millennial Potash Corp.
(TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
is pleased to
announce that it is engaging in a private placement (the "Private Placement") of 5,833,333 units (the
"Units") at a price of $0.60 per Unit.
Each Unit is comprised of one common share and one-half of one
share purchase warrant exercisable at a price of $0.85 per share for a period of two years from the date
of issuance.
A commission of 7% cash is payable on a portion of the Private Placement.
Proceeds of the Private Placement will be used to fund the Company's further exploration and
development of its Banio Potash Project as well as for general working capital purposes.
Related Parties:
An insider (the "Insider Placee") of the Company is participating in the Private Placement for 2,333,334
Units (the "Insider Units").
The purchase by the Insider Placee constitutes a "related party transaction"
within the meaning of Multilateral Instrument 61-101 - Protection of Minority Holders in Special
Transactions ("MI 61-101").
The issuance of these 2,333,334 Units is exempt from the formal valuation
and minority shareholder approval requirements of MI 61-101 as they are distributions of securities for
cash and the fair market value of the Units issued to, and the consideration paid by, the Insider Placee
did not exceed 25% of the Company's market capitalization.
For the purposes of exemptions under MI
61-101, the Company is listed only on the Exchange.
Additional Details
:
The Private Placement is conditional upon the approval of the TSX Venture Exchange.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or
.
Keep up-to-date on Millennial Potash developments and join our online communities on:
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MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or
"planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-
looking statements or information. These forward-looking statements or information may relate to future
prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources,
regulatory or government requirements or approvals including approvals of title and mining rights or
licenses and environmental (including land or water use), local community or indigenous community
approvals, the reliability of third party information, continued access to mineral properties or
infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact
upon the Company or its properties or the commercial exploitation of those properties, currency risks
including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for
potash or potash related products, changes in exploration costs and government royalties, export
policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's
current plans, expectations and intentions with respect to development of its business and of the Banio
Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the
impact of current financial and other market conditions on its ability to secure further financing or funding
of the Banio Potash Project. Such statements represent the Company's current views with respect to
future events and are necessarily based upon a number of assumptions and estimates that, while
considered reasonable by the Company, are inherently subject to significant business, economic,
competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both
known and unknown, could cause results, performance or achievements to be materially different from
the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements. The Company does not intend, and does not assume any obligation, to update these
forward-looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements and information other than as required by
applicable laws, rules and regulations.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/245057