Millennial Announces Private Placement of 3,870,968 Units for Proceeds of $6,000,000
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.
Millennial Potash (OTCQB: MLPNF) ha annunciato un'offerta privata di collocamento di 3.870.968 unit脿 a $1,55 per unit脿, con l'obiettivo di raccogliere 6 milioni di dollari. Ogni unit脿 comprende un'azione ordinaria e mezza warrant di acquisto azioni, con warrant esercitabili a $2,20 per azione per due anni.
Il collocamento prevede una significativa partecipazione degli insider, che rappresenta circa il 50% dell'offerta totale. I proventi saranno utilizzati per finanziare l'esplorazione e lo sviluppo del progetto Banio Potash della societ脿 e per scopi di capitale circolante generale. Potrebbe essere pagata una commissione in contanti del 7% su una parte del collocamento, che 猫 soggetta all'approvazione della TSX Venture Exchange.
Millennial Potash (OTCQB: MLPNF) ha anunciado una oferta privada de colocaci贸n de 3,870,968 unidades a $1.55 por unidad, con el objetivo de recaudar $6 millones. Cada unidad consta de una acci贸n com煤n y la mitad de un warrant de compra de acciones, con warrants ejercitables a $2.20 por acci贸n durante dos a帽os.
La colocaci贸n incluye una participaci贸n significativa de los insiders, que representa aproximadamente el 50% de la oferta total. Los fondos se destinar谩n a la exploraci贸n y desarrollo del Proyecto Banio Potash de la compa帽铆a y a fines generales de capital de trabajo. Se podr铆a pagar una comisi贸n en efectivo del 7% sobre una parte de la colocaci贸n, la cual est谩 sujeta a la aprobaci贸n de la Bolsa de Valores TSX Venture.
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Millennial Potash (OTCQB : MLPNF) a annonc茅 une offre de placement priv茅 de 3 870 968 unit茅s 脿 1,55 $ par unit茅, visant 脿 lever 6 millions de dollars. Chaque unit茅 se compose d'une action ordinaire et d'une demi-option d'achat d'actions, avec des options exer莽ables 脿 2,20 $ par action pendant deux ans.
Le placement comprend une participation importante des initi茅s, repr茅sentant environ 50 % de l'offre totale. Les fonds serviront 脿 financer l'exploration et le d茅veloppement du projet Banio Potash de la soci茅t茅 ainsi qu'脿 des fins de fonds de roulement g茅n茅ral. Une commission en esp猫ces de 7 % pourrait 锚tre vers茅e sur une partie du placement, sous r茅serve de l'approbation de la TSX Venture Exchange.
Millennial Potash (OTCQB: MLPNF) hat ein Privatplatzierungsangebot von 3.870.968 Einheiten zu je 1,55 $ angek眉ndigt, mit dem Ziel, 6 Millionen Dollar an Erl枚sen zu erzielen. Jede Einheit besteht aus einer Stammaktie und einem halben Kaufoptionsschein, wobei die Optionsscheine zu 2,20 $ pro Aktie f眉r zwei Jahre aus眉bbar sind.
Die Platzierung beinhaltet eine erhebliche Insiderbeteiligung, die etwa 50 % des Gesamtangebots ausmacht. Die Erl枚se werden zur Finanzierung der Exploration und Entwicklung des Banio Potash Projekts des Unternehmens sowie f眉r allgemeine Betriebskapitalzwecke verwendet. Auf einen Teil der Platzierung kann eine Barprovision von 7 % anfallen, die noch der Genehmigung der TSX Venture Exchange unterliegt.
- 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
- Potential dilution for existing shareholders
- 7% cash commission on portion of placement reduces net proceeds
- Subject to regulatory approval which creates execution uncertainty
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 [email protected].
Keep up-to-date on Millennial Potash developments and join our online communities on: , , , and .
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.
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FAQ
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What are the terms of the warrants in MLPNF's private placement?
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