Millennial Announces Private Placement of 3,870,968 Units for Proceeds of $6,000,000
Rhea-AI Summary
Millennial Potash (OTCQB: MLPNF) has announced a private placement offering of 3,870,968 units at $1.55 per unit, aiming to raise $6 million in proceeds. Each unit consists of one common share and half of a share purchase warrant, with warrants exercisable at $2.20 per share for two years.
The placement includes significant insider participation, accounting for approximately 50% of the total offering. The proceeds will fund exploration and development of the company's Banio Potash Project and general working capital purposes. A 7% cash commission may be payable on a portion of the placement, which remains subject to TSX Venture Exchange approval.
Positive
- Significant insider participation (50%) demonstrates management confidence
- Proceeds will advance exploration and development of Banio Potash Project
- Warrant exercise price of $2.20 represents 42% premium to unit price
Negative
- Potential dilution for existing shareholders
- 7% cash commission on portion of placement reduces net proceeds
- Subject to regulatory approval which creates execution uncertainty
News Market Reaction
On the day this news was published, MLPNF declined 4.17%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2025) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is pleased to announce that it is engaging in a private placement (the "Private Placement") of 3,870,968 units (the "Units") at a price 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 will be approximately
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/259407
FAQ
What is the size and price of Millennial Potash's (MLPNF) private placement?
How will Millennial Potash (MLPNF) use the proceeds from the private placement?
What are the terms of the warrants in MLPNF's private placement?
How much insider participation is expected in Millennial Potash's private placement?
What regulatory approvals does MLPNF need for the private placement?
