Business
Millennial Announces Increase in Private Placement to 5,903,226 Units for Proceeds of $9,150,000
West Vancouver, British Columbia--(Newsfile Corp. - July 24, 2025) - Millennial Potash Corp. (TS...
About this update from Millennial Potash Corp
[{"type":"text","content":"Millennial Announces Increase in Private Placement to 5,903,226 Units for Proceeds of $9,150,000West Vancouver, British Columbia--(Newsfile Corp. - July 24, 2025) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") announced on July 21, 2025, that it was engaging in a private placement (the \"Private Placement\") of 3,870,968 units (the \"Units\") at a price of $1.55 per Unit for proceeds of $6,000,000. Each Unit was to be comprised of one common share and one-half of one share purchase warrant (the \"Warrants\") exercisable at a price of $2.20 per share for a period of two years from the date of issuance. The Company wishes to announce that it is increasing the size of the Private Placement to 5,903,226 Units for proceeds of $9,150,000. In all ways other than the number of Units sold, the Private Placement and the terms and conditions of the Units and the Warrants remain unchanged.A commission of 7% cash may be 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: Insider participation in the Private Placement is expected to be less than 25% with the increase in the Private Placement Units sold. Insider participation 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 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 for Insider Units does 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 TSX Venture 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 email [email protected] up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.MI...