Business
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. (T...
About this update from Millennial Potash Corp
[{"type":"text","content":"Millennial Announces Private Placement of 5,833,333 Units for Proceeds of $3,500,000West 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 email [email protected] up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.MILLENNIAL 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\...