Millennial Extends Warrant Term
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) has requested TSX Venture Exchange approval to extend the expiry date of 3,591,500 share purchase warrants by three years. These warrants, originally issued on February 28, 2023, with an expiry date of February 28, 2025, and exercisable at 75 cents per common share, will now expire on February 28, 2028, maintaining the same exercise price.
Of these warrants, 70,000 are held by related parties, constituting a related-party transaction under MI 61-101 and TSX-V Policy 5.9. However, the company is exempt from formal valuation and minority approval requirements as the fair market value of insider-held warrants is below 25% of the company's market capitalization.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) ha richiesto l'approvazione della TSX Venture Exchange per estendere la data di scadenza di 3.591.500 warrant di acquisto azioni di tre anni. Questi warrant, originariamente emessi il 28 febbraio 2023, con una data di scadenza del 28 febbraio 2025 e esercitabili a 75 centesimi per azione comune, scadranno ora il 28 febbraio 2028, mantenendo lo stesso prezzo di esercizio.
Di questi warrant, 70.000 sono detenuti da parti correlate, costituendo una transazione con parti correlate ai sensi del MI 61-101 e della Politica 5.9 della TSX-V. Tuttavia, la società è esente dai requisiti di valutazione formale e approvazione da parte della minoranza poiché il valore di mercato equo dei warrant detenuti dagli insider è inferiore al 25% della capitalizzazione di mercato della società.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) ha solicitado la aprobación de la TSX Venture Exchange para extender la fecha de vencimiento de 3,591,500 opciones de compra de acciones por tres años. Estas opciones, emitidas originalmente el 28 de febrero de 2023, con una fecha de vencimiento del 28 de febrero de 2025 y ejercitables a 75 centavos por acción común, ahora vencerán el 28 de febrero de 2028, manteniendo el mismo precio de ejercicio.
De estas opciones, 70,000 están en manos de partes relacionadas, constituyendo una transacción con partes relacionadas bajo el MI 61-101 y la Política 5.9 de TSX-V. Sin embargo, la empresa está exenta de los requisitos de valoración formal y aprobación de minorías, ya que el valor de mercado justo de las opciones en manos de insiders es inferior al 25% de la capitalización de mercado de la empresa.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF)는 3,591,500주 구매 워런트의 만료일을 3년 연장하기 위해 TSX 벤처 거래소의 승인을 요청했습니다. 이 워런트는 원래 2023년 2월 28일에 발행되었으며, 만료일은 2025년 2월 28일이고, 주당 가격은 75센트로 행사할 수 있습니다. 이제 만료일은 2028년 2월 28일로 변경되며, 동일한 행사 가격이 유지됩니다.
이 워런트 중 70,000주는 관련 당사자에 의해 보유되고 있으며, 이는 MI 61-101 및 TSX-V 정책 5.9에 따른 관련 당사자 거래를 구성합니다. 그러나 회사는 내부자가 보유한 워런트의 공정 시장 가치가 회사의 시가총액의 25% 미만이기 때문에 공식 평가 및 소수자 승인 요구 사항에서 면제됩니다.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) a demandé l'approbation de la TSX Venture Exchange pour prolonger la date d'expiration de 3 591 500 bons de souscription d'actions de trois ans. Ces bons, émis à l'origine le 28 février 2023, avec une date d'expiration du 28 février 2025 et exerçables à 75 cents par action ordinaire, expireront désormais le 28 février 2028, tout en maintenant le même prix d'exercice.
Parmi ces bons, 70 000 sont détenus par des parties liées, constituant une transaction avec des parties liées selon le MI 61-101 et la Politique 5.9 de la TSX-V. Cependant, la société est exemptée des exigences d'évaluation formelle et d'approbation des minorités, car la juste valeur marchande des bons détenus par des initiés est inférieure à 25 % de la capitalisation boursière de la société.
Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) hat die Genehmigung der TSX Venture Exchange beantragt, um das Ablaufdatum von 3.591.500 Aktienkauf-Warrants um drei Jahre zu verlängern. Diese Warrants, die ursprünglich am 28. Februar 2023 ausgegeben wurden, hatten ein Ablaufdatum am 28. Februar 2025 und sind zu einem Preis von 75 Cent pro Stammaktie ausübbar. Sie verfallen nun am 28. Februar 2028 und behalten den gleichen Ausübungspreis bei.
Von diesen Warrants werden 70.000 von verbundenen Parteien gehalten, was eine Transaktion mit verbundenen Parteien gemäß MI 61-101 und der TSX-V-Richtlinie 5.9 darstellt. Das Unternehmen ist jedoch von den Anforderungen an eine formelle Bewertung und die Zustimmung der Minderheit befreit, da der faire Marktwert der von Insidern gehaltenen Warrants unter 25% der Marktkapitalisierung des Unternehmens liegt.
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West Vancouver, British Columbia--(Newsfile Corp. - February 12, 2025) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") has applied to the TSX Venture Exchange for approval of an amendment to certain share purchase warrants issued pursuant to a private placement by extending the expiry date for three additional years.
The warrants affected are 3,591,500 share purchase warrants issued on February 28, 2023, with an expiry date of February 28, 2025, and exercisable at 75 cents per common share. The new expiry date will be February 28, 2028, and the exercise price shall remain the same. The company will not be sending out new warrant certificates unless requested by the holder.
A total of 70,000 warrants are held by parties considered to be related parties of the company. Therefore, the warrant amendment constitutes a related-party transaction as contemplated by Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions) and TSX-V Policy 5.9 (Protection of Minority Shareholders in Special Transactions). However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the warrants held by insiders does not exceed 25 per cent of the market capitalization of the company.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at 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/240528
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