Millennium Silver Corp. Announces Oversubscription of Private Placement

About this update from Millennium Silver Corp

Millennium Silver Corp. Announces Oversubscription of Private PlacementVancouver, British Columbia--(Newsfile Corp. - February 20, 2026) - Millennium Silver Corp. (TSXV: MSC) ("Millennium" or the "Company"), reports that further to its January 14, 2026 press release, it has applied for conditional acceptance of its previously announced non-brokered private placement for total proceeds of $2,888,905 (the "Private Placement"). The oversubscribed Private Placement consists of 192,593,667 units at $0.015 per unit. Each unit is comprised of one (1) common share and one (1) non-transferable share purchase warrant (the "Warrant"). Each Warrant shall have a term of five (5) years from the date of issuance, and shall entitle the holder to purchase one (1) additional common share at an escalating exercise price as follows: $0.05 per share within the first three years after issuance; $0.10 per share in years four and five.The Company will pay up to a 6% finder's fee in cash and issue up to an aggregate of 7,885,020 non-transferable finder's compensation warrants to the eligible arm's length finders (the "Finder's Warrants"), with respect to $1,971,255 of the Private Placement. Each Finder's Warrant entitles the holder to purchase one (1) additional common share at an escalating exercise price as follows: $0.05 per share within the first three years after issuance; $0.10 per share in years four and five.Proceeds from the Private Placement will be used for exploration (pursuant to the Company's 2019 NI 43-101 Technical Report), accounts payable, and working capital. All securities issued in connection with the Private Placement will have a statutory hold period of four months and one day from the date of issuance. Closing of the Private Placement is subject to approval of the TSX Venture Exchange (the "TSX-V"). Certain insiders participated in the Private Placement for aggregate investment of $303,000, which is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The participation of insiders in the Private Placement is expected to be exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it invol...

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