Millennial Announces Increase in Private Placement to 5,903,226 Units for Proceeds of $9,150,000
Millennial Potash (OTCQB: MLPNF) has announced an increase in its private placement offering from 3,870,968 units to 5,903,226 units at $1.55 per unit, raising total proceeds of $9.15 million, up from the initially planned $6 million.
Each unit consists of one common share and one-half share purchase warrant, with warrants exercisable at $2.20 per share for two years. A 7% commission may apply to portions of the placement. The funds will support exploration and development of the Banio Potash Project and working capital needs. Insider participation is expected to be below 25%, qualifying for exemption from formal valuation requirements.
Millennial Potash (OTCQB: MLPNF) ha annunciato un aumento della sua offerta di collocamento privato da 3.870.968 unità a 5.903.226 unità a 1,55$ per unità, raccogliendo un totale di 9,15 milioni di dollari, rispetto ai 6 milioni di dollari inizialmente previsti.
Ogni unità è composta da un'azione ordinaria e da mezza warrant di acquisto azioni, con le warrant esercitabili a 2,20$ per azione per due anni. Potrebbe essere applicata una commissione del 7% su alcune parti del collocamento. I fondi saranno utilizzati per sostenere l'esplorazione e lo sviluppo del Progetto Banio Potash e per le esigenze di capitale circolante. La partecipazione degli insider dovrebbe essere inferiore al 25%, qualificandosi per l'esenzione dai requisiti formali di valutazione.
Millennial Potash (OTCQB: MLPNF) ha anunciado un aumento en su oferta de colocación privada de 3,870,968 unidades a 5,903,226 unidades a $1.55 por unidad, recaudando un total de $9.15 millones, superior a los $6 millones inicialmente planeados.
Cada unidad consta de una acción común y media garantía de compra de acciones, con garantías ejercitables a $2.20 por acción durante dos años. Puede aplicarse una comisión del 7% en algunas partes de la colocación. Los fondos se destinarán a apoyar la exploración y desarrollo del Proyecto Banio Potash y las necesidades de capital de trabajo. Se espera que la participación de los insiders sea inferior al 25%, lo que califica para la exención de los requisitos formales de valoración.
Millennial Potash (OTCQB: MLPNF)는 사모 발행 단위를 3,870,968단위에서 단위당 1.55달러에 5,903,226단위로 증가시켜 총 915만 달러를 조달한다고 발표했으며, 이는 당초 계획한 600만 달러에서 증가한 금액입니다.
각 단위는 보통주 1주와 주식 매수 청구권 0.5주로 구성되며, 청구권은 2년간 주당 2.20달러에 행사 가능합니다. 발행 일부에는 7%의 수수료가 적용될 수 있습니다. 자금은 Banio Potash 프로젝트의 탐사 및 개발과 운전자본 필요에 사용될 예정입니다. 내부자 참여는 25% 미만일 것으로 예상되어 공식 평가 요건 면제 대상입니다.
Millennial Potash (OTCQB : MLPNF) a annoncé une augmentation de son offre de placement privé, passant de 3 870 968 unités à 5 903 226 unités à 1,55 $ par unité, levant un total de 9,15 millions de dollars, contre 6 millions initialement prévus.
Chaque unité comprend une action ordinaire et une demi-warrant d'achat d'actions, avec des warrants exerçables à 2,20 $ par action pendant deux ans. Une commission de 7 % peut s'appliquer à certaines parties du placement. Les fonds serviront à soutenir l'exploration et le développement du projet Banio Potash ainsi que les besoins en fonds de roulement. La participation des initiés devrait être inférieure à 25 %, ce qui permet une exemption des exigences formelles d'évaluation.
Millennial Potash (OTCQB: MLPNF) hat die Erhöhung seines Privatplatzierungsangebots von 3.870.968 Einheiten auf 5.903.226 Einheiten zu je 1,55 $ pro Einheit bekannt gegeben und damit Gesamterlöse von 9,15 Millionen US-Dollar erzielt, gegenüber den ursprünglich geplanten 6 Millionen US-Dollar.
Jede Einheit besteht aus einer Stammaktie und einem halben Bezugsrecht, wobei die Bezugsrechte für zwei Jahre zu je 2,20 $ pro Aktie ausgeübt werden können. Auf Teile der Platzierung kann eine Provision von 7 % anfallen. Die Mittel werden zur Unterstützung der Exploration und Entwicklung des Banio Potash Projekts sowie für den Betriebskapitalbedarf verwendet. Die Beteiligung von Insidern wird voraussichtlich unter 25 % liegen, was eine Befreiung von formellen Bewertungsanforderungen ermöglicht.
- None.
- 7% commission payment on portions of the placement will reduce net proceeds
- Potential dilution for existing shareholders
- Warrant exercise at $2.20 could lead to additional future dilution
West 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
The Company wishes to announce that it is increasing the size of the Private Placement to 5,903,226 Units for proceeds of
A commission of
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
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 info@millennialpotash.com.
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MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither 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" 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" or "planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction, the achievement of the Company's milestones for funding or development and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259881
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