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Millennial Announces "Bought Deal" Private Placement LIFE Offering for Proceeds of $15,250,000
West Vancouver, British Columbia--(Newsfile Corp. - January 19, 2026) - Millennial Potash Corp. ...
About this update from Millennial Potash Corp
[{"type":"text","content":"\nMillennial Announces \"Bought Deal\" Private Placement LIFE Offering for Proceeds of $15,250,000West Vancouver, British Columbia--(Newsfile Corp. - January 19, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") is pleased to announce that it is conducting a \"bought deal\" private placement offering (the \"LIFE Offering\") of 5,000,000 units of the Company (the \"Offered Units\") at a price of $3.05 per Offered Unit for aggregate gross proceeds of $15,250,000. Each Offered Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each full warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $4.00 at any time until the date which is three years from the Closing Date (as defined below). In connection with the LIFE Offering, Cantor Fitzgerald Canada Corporation (\"CFCC\") is acting as lead underwriter and sole bookrunner under the terms of a letter agreement (the \"CFCC Agreement\") dated January 19, 2026. Under the CFCC Agreement, CFCC will, on its own behalf and on behalf of a syndicate of underwriters (collectively, the \"Underwriters\") agree to purchase (or arrange for substitute purchasers to purchase) the Offered Units. The CFCC Agreement is to be replaced by an underwriting agreement prior to or concurrently with the Closing Date. The CFCC Agreement calls for the Underwriters to receive cash commissions equal to 6% of the gross proceeds of the LIFE Offering and broker's warrants equal to 4% of the aggregate number of Offered Units sold. Each of these broker's warrants will entitle the holder, for a period of 36 months, to purchase one Common Share at $3.05 per Common Share. The Company has granted to the Underwriters an option, exercisable in whole or in part at any time up to 48 hours prior to the Closing Date, to arrange for the purchase at the Issue Price of up to an additional 15% of Offered Units sold under the LIFE Offering.The Company intends to use the proceeds of the LIFE Offering for the costs for a definitive feasibility study for its Banio Potash Project as well as other uses including for general working capital.The closing date is expected to occur on or about January 29, 2026 (the \"Closing Date\"), and is sub...