Business
Millennial Announces Closing of Second Tranche of Private Placement for Additional Proceeds of $512,500
West Vancouver, British Columbia--(Newsfile Corp. - July 15, 2024) - Millennial Potash Corp. (TS...
About this update from Millennial Potash Corp
[{"type":"text","content":"\nMillennial Announces Closing of Second Tranche of Private Placement for Additional Proceeds of $512,500West Vancouver, British Columbia--(Newsfile Corp. - July 15, 2024) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") is pleased to announce that it has closed the second and final tranche of its private placement (the \"Private Placement\"). The Company's news release dated June 18, 2024 describes the closing of the first tranche. The second tranche of the Private Placement was for a total of 2,050,000 units (the \"Units\") at a price of $0.25 per unit for proceeds of $512,500. Each Unit consisted of one common share and one-half share purchase warrant. Each of the 1,025,000 whole share purchase warrants are exercisable for a period of two years from the date of issuance at a price of $0.35 per share. Commissions on the second tranche of the private placement totalling $18,340 and 73,360 finders' warrants will be paid in connection with closing the private placement. The finders' warrants are exercisable for three years from the date of issuance at a price of $0.35 per share.The Shares, including shares underlying the finders' warrants, are subject to a four month hold period expiring on November 13, 2024. For both tranches a total of 7,974,000 Units were issued at a price of $0.25 for total proceeds of $1,993,500.Certain insiders of the Company acquired 882,000 Units of to the Private Placement.Proceeds of the Private Placement are to be used to fund exploration and development activities on the Company's Banio Potash Project and for general working capital purposes. To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at [email protected] POTASH CORP.\"Farhad Abasov\"Chair of the Board of DirectorsNeither 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\", \...