Millennial Potash Corp. (TSX.V:MLP, OTCQB:MLPNF, FSE: X0D) (“MLP”, “Millennial” or the “Company”) - https://www.commodity-tv.com/ondemand/companies/profil/millennial-potash-corp/ - is pleased to announce a private placement (the "Private Placement") of up to $2,000,000 consisting of the sale of up to 8,000,000 units (the "Units") at a price of $0.25 per unit. Each Unit will consist of one common share and one-half (1/2) of one common share purchase warrant with each whole warrant (a "Warrant") entitling the holder to purchase one common share at an exercise price of $0.35 for a period of 24 months following closing of the Private Placement.
All of the common shares issued pursuant to the Private Placement, including any common shares that are issued pursuant to the exercise of Warrants, will be subject to a hold period of four months from the closing of the Private Placement.
Commissions of seven (7%) percent cash and warrants (the "Commission Warrants") equal in number to seven (7%) percent of the number of Units placed are payable on a portion of the Private Placement. Each Commission Warrant is exercisable for a period of three (3) years at an exercise price of $0.35 per common share.
The proceeds from the Private Placement, which is subject to TSX Venture Exchange approval, will be used to fund exploration and development activities at the Company's Banio Potash Project in Gabon and for general working capital purposes.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at info@millennialpotashcorp.com.
MILLENNIAL POTASH CORP.
“Farhad Abasov”
Chair of the Board of Directors
In Europe:
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
info@resource-capital.ch
www.resource-capital.ch
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan” or "planned", “forecast”, "intend", “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ 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 at this time, 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.
All of the common shares issued pursuant to the Private Placement, including any common shares that are issued pursuant to the exercise of Warrants, will be subject to a hold period of four months from the closing of the Private Placement.
Commissions of seven (7%) percent cash and warrants (the "Commission Warrants") equal in number to seven (7%) percent of the number of Units placed are payable on a portion of the Private Placement. Each Commission Warrant is exercisable for a period of three (3) years at an exercise price of $0.35 per common share.
The proceeds from the Private Placement, which is subject to TSX Venture Exchange approval, will be used to fund exploration and development activities at the Company's Banio Potash Project in Gabon and for general working capital purposes.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at info@millennialpotashcorp.com.
MILLENNIAL POTASH CORP.
“Farhad Abasov”
Chair of the Board of Directors
In Europe:
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
info@resource-capital.ch
www.resource-capital.ch
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan” or "planned", “forecast”, "intend", “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ 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 at this time, 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.
