Business
Millennial Potash Corp. Announces Increase of Private Placement to $3,500,000 (7,000,000 Units at $0.50 per Unit)
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) - Millennial Potash Corp. (TSXV...
About this update from Millennial Potash Corp
[{"type":"text","content":"Millennial Potash Corp. Announces Increase of Private Placement to $3,500,000 (7,000,000 Units at $0.50 per Unit)Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) - Millennial Potash Corp. (TSXV: MLP) (\"MLP\" \"Millennial\" or the \"Company\"). On February 6, 2023, the Company announced that it was engaging in a private placement (the \"Private Placement\") of 4,000,000 units (the \"Units\") at a price of $0.50 per Unit for gross proceeds of $2,000,000. As a result of strong investor interest, the Company is increasing the Private Placement to 7,000,000 Units for gross proceeds of $3,500,000.Other than the number of Units expected to be sold, the terms and conditions of the Private Placement remain the same. Each Unit will consist of one common share and one-half share purchase warrant. Each whole share purchase warrant will be exercisable for a period of two years from the date of issuance at a price of CDN$0.75 per share. The share purchase warrants will be subject to an accelerated expiry in the event the common shares of the Company trade on the TSX Venture Exchange at a price of CDN$1.00 or higher for 10 consecutive trading days. The Private Placement includes commissions of up to 8% (payable in cash). There is no minimum or maximum number of Units in the Private Placement. Proceeds of the Private Placement will be used to fund work at the Company's Banio Potash Project in Gabon and for general working capital purposes. The Private Placement is subject to 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 at [email protected] POTASH CORP.On Behalf of the Board of Directors\"Graham Harris\"DirectorNeither 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 news release 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\", \"target, \"plan\", \"forecast\", \"intend\", \"may\", \"schedule\" and similar words or expression...