Millennial Announces Private Placement of 5,833,333 Units for Proceeds of $3,500,000
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) has announced a private placement of 5,833,333 units at $0.60 per unit, aiming to raise $3,500,000. Each unit consists of one common share and half of one share purchase warrant, with warrants exercisable at $0.85 per share for two years from issuance.
The placement includes participation from an insider for 2,333,334 units, qualifying as a related party transaction but exempt from formal valuation and minority shareholder approval requirements under MI 61-101. A 7% cash commission is payable on a portion of the placement.
The funds will be allocated towards the exploration and development of the Banio Potash Project and general working capital purposes. The private placement remains subject to TSX Venture Exchange approval.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) ha annunciato un collocamento privato di 5.833.333 unità a $0,60 per unità, con l'obiettivo di raccogliere $3.500.000. Ogni unità consiste in un'azione comune e metà di un warrant per l'acquisto di azioni, con i warrant esercitabili a $0,85 per azione per due anni dalla data di emissione.
Il collocamento include la partecipazione di un insider per 2.333.334 unità, qualificandosi come una transazione con parti correlate, ma esente dai requisiti di valutazione formale e approvazione degli azionisti di minoranza ai sensi della MI 61-101. Una commissione in contante del 7% è dovuta su una parte del collocamento.
I fondi saranno destinati all'esplorazione e sviluppo del Progetto di Potassio Banio e per esigenze generali di capitale circolante. Il collocamento privato è soggetto all'approvazione della TSX Venture Exchange.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) ha anunciado una colocación privada de 5,833,333 unidades a $0.60 por unidad, con el objetivo de recaudar $3,500,000. Cada unidad consiste en una acción común y la mitad de un warrant de compra de acciones, con warrants ejercitables a $0.85 por acción durante dos años a partir de la emisión.
La colocación incluye la participación de un insider por 2,333,334 unidades, calificándose como una transacción con partes relacionadas, pero exenta de los requisitos de valoración formal y aprobación de accionistas minoritarios bajo la MI 61-101. Se debe pagar una comisión en efectivo del 7% sobre una parte de la colocación.
Los fondos se destinarán a la exploración y desarrollo del Proyecto de Potasio Banio y a propósitos generales de capital de trabajo. La colocación privada está sujeta a la aprobación de la TSX Venture Exchange.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF)는 5,833,333 유닛을 유닛당 $0.60에 사모 배정한다고 발표했으며, 총 $3,500,000을 모금할 계획입니다. 각 유닛은 하나의 보통주와 주식 매수 워런트의 절반으로 구성되며, 워런트는 발행일로부터 2년 동안 주식당 $0.85에 행사할 수 있습니다.
이번 배정에는 내부자가 2,333,334 유닛에 참여하며, 이는 관련 당사자 거래로 분류되지만 MI 61-101에 따라 공식 평가 및 소수 주주 승인 요구 사항에서 면제됩니다. 배정의 일부에 대해 7%의 현금 수수료가 지급됩니다.
모금된 자금은 Banio Potash 프로젝트의 탐사 및 개발과 일반 운영 자본 용도로 사용될 예정입니다. 사모 배정은 TSX Venture Exchange의 승인을 받아야 합니다.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) a annoncé un placement privé de 5.833.333 unités à 0,60 $ par unité, visant à lever 3.500.000 $. Chaque unité se compose d'une action ordinaire et de la moitié d'un bon de souscription d'actions, les bons étant exerçables à 0,85 $ par action pendant deux ans à compter de l'émission.
Le placement comprend la participation d'un initié pour 2.333.334 unités, ce qui le qualifie de transaction entre parties liées mais l'exempte des exigences d'évaluation formelle et d'approbation des actionnaires minoritaires en vertu de la MI 61-101. Une commission en espèces de 7 % est due sur une partie du placement.
Les fonds seront alloués à l'exploration et au développement du projet de potasse Banio ainsi qu'à des besoins généraux en fonds de roulement. Le placement privé est soumis à l'approbation de la TSX Venture Exchange.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) hat eine Privatplatzierung von 5.833.333 Einheiten zu einem Preis von $0,60 pro Einheit angekündigt, mit dem Ziel, $3.500.000 zu beschaffen. Jede Einheit besteht aus einer Stammaktie und der Hälfte eines Aktienoptionsscheins, wobei die Optionen für zwei Jahre ab Ausgabe zu $0,85 pro Aktie ausgeübt werden können.
Die Platzierung umfasst die Teilnahme eines Insiders an 2.333.334 Einheiten, die als Transaktion mit verbundenen Parteien gilt, jedoch von den Anforderungen an eine formelle Bewertung und die Genehmigung durch Minderheitsaktionäre gemäß MI 61-101 befreit ist. Eine Barprovision von 7% ist auf einen Teil der Platzierung fällig.
Die Mittel werden für die Erforschung und Entwicklung des Banio Potash Projekts sowie für allgemeine Betriebskapitalzwecke verwendet. Die Privatplatzierung unterliegt der Genehmigung der TSX Venture Exchange.
- Secured $3.5 million in additional funding
- Significant insider participation (2,333,334 units) demonstrating management confidence
- Funds allocated for development of Banio Potash Project
- Dilution of existing shareholders through new share issuance
- 7% cash commission payment reduces net proceeds
- Warrant exercise at $0.85 could lead to future dilution
West Vancouver, British Columbia--(Newsfile Corp. - March 18, 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 5,833,333 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:
An insider (the "Insider Placee") of the Company is participating in the Private Placement for 2,333,334 Units (the "Insider Units"). The purchase by the Insider Placee constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Holders in Special Transactions ("MI 61-101"). The issuance of these 2,333,334 Units is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as they are distributions of securities for cash and the fair market value of the Units issued to, and the consideration paid by, the Insider Placee did not exceed
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 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/245057
FAQ
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