Business
Millennial Engages in Non-Brokered Private Placement of Units for Proceeds of $750,000 Concurrently with Previously Announced Life Financing of $17,357,500
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Millennial Potash Corp
[{"type":"text","content":"Millennial Engages in Non-Brokered Private Placement of Units for Proceeds of $750,000 Concurrently with Previously Announced Life Financing of $17,357,500NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESWest Vancouver, British Columbia--(Newsfile Corp. - January 23, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") is pleased to announce that, in response to its previously announced LIFE Financing being fully subscribed including the overallotment for a total of $17,357,500, it will conduct a private placement (the \"Concurrent Offering\") of up to approximately 245,900 units (the \"Concurrent Units\" at a price of $3.05 per Unit for proceeds of approximately $750,000. Each 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 date of issuance of the Warrants. The Company intends to use the proceeds of the Concurrent Offering for future development of its Banio Potash Project and for general working capital. Farhad Abasov, Millennial's Chairman, said: \"We are very pleased to see Cantor Fitzgerald as lead underwrite the LIFE Financing for Millennial. These financings reflect very strong confidence in our project. Millennial has been developing a potentially low-cost and large-resource potash project that could become a significant supplier of this critical mineral to the United States, Africa and Brazil. These financings strengthen our balance sheet at a crucial juncture of our development as the Company has launched a definitive feasibility study, along with an environmental and social impact study, while advancing work on offtakes, project financing and other strategic matters.\"The Concurrent Units, together with any Common Shares underlying the Warrants in the Concurrent Units, will be subject to a four-month resale restriction. The Concurrent Offering is being engaged in concurrently with the Company's previously announced private placement (the \"LIFE Financing\") of 5,000,000 units of the Company (the \"LIFE Financing Units\") at a price of $3.05 pe...