Millennial Potash Corp. Announces Increase of Private Placement to $3,500,000 (7,000,000 Units at $0.50 per Unit)
Millennial Potash Corp. Announces Increase of
Private Placement to $3,500,000 (7,000,000
Units at $0.50 per Unit)
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) -
Millennial Potash Corp. (TSXV:
MLP) ("MLP" "Millennial" or the "Company")
. On February 6, 2023, the Company announced that it
was engaging in a private placement (the "Private Placement") of 4,000,000 units (the "Units") at a price
of $0.50 per Unit for gross proceeds of $2,000,000.
As a result of strong investor interest, the Company is increasing the Private Placement to 7,000,000
Units for gross proceeds of $3,500,000.
Other than the number of Units expected to be sold, the terms and conditions of the Private Placement
remain the same.
Each Unit will consist of one common share and one-half share purchase warrant.
Each whole share purchase warrant will be exercisable for a period of two years from the date of
issuance at a price of CDN$0.75 per share.
The share purchase warrants will be subject to an
accelerated expiry in the event the common shares of the Company trade on the TSX Venture Exchange
at a price of CDN$1.00 or higher for 10 consecutive trading days.
The Private Placement includes
commissions of up to 8% (payable in cash).
There is no minimum or maximum number of Units in the
Private Placement.
Proceeds of the Private Placement will be used to fund work at the Company's Banio Potash Project in
Gabon and for general working capital purposes.
The Private Placement is subject to the approval of the TSX Venture Exchange.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or
email at
.
MILLENNIAL POTASH CORP.
On Behalf of the Board of Directors
"Graham Harris"
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan",
"forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking
statements or information. These forward-looking statements or information may relate to future prices of
commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or
government requirements or approvals including approvals of title and mining rights or licenses and
environmental, local community or indigenous community approvals, the reliability of third party
information, continued access to mineral properties or infrastructure, changes in laws, rules and
regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or
the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for
Cdn$ or other currencies, fluctuations in the market for gold/silver and 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 Covid-19 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 affections such statements and information other than as required by applicable laws, rules and
regulations.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/154272