Millennial Announces Increase in Private Placement to 5,903,226 Units for Proceeds of $9,150,000
Rhea-AI Summary
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.
Positive
- None.
Negative
- 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
News Market Reaction
On the day this news was published, MLPNF declined 0.49%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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.
Keep 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 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
FAQ
What is the size of Millennial Potash's (MLPNF) increased private placement?
What are the terms of MLPNF's private placement units?
How will Millennial Potash use the proceeds from the private placement?
What is the level of insider participation in MLPNF's private placement?
What regulatory approvals are required for MLPNF's private placement?
