Millennial Potash arranges $750K concurrent placement

Executive Summary

• Millennial Potash Corp. is conducting a non-brokered private placement of up to approximately 245,900 units for gross proceeds of approximately $750,000.
• This offering is concurrent with the full subscription and exercise of the overallotment option for a previously announced LIFE financing, bringing the total aggregate proceeds from both financings to approximately $18,287,500.
• Proceeds will be used for the development of the Banio potash project and general working capital, strengthening the company's balance sheet as it advances a definitive feasibility study.

Key Details

• Concurrent Offering Structure: Up to 245,900 units priced at $3.05 per unit.
• Concurrent Offering Proceeds: Approximately $750,000.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms (Concurrent): Each warrant is exercisable to acquire one common share at an exercise price of $4.00. Warrants expire three years from issuance.
• Resale Restriction: Units and underlying shares are subject to a four-month resale restriction.
• LIFE Financing Status: Previously announced financing of 5 million units at $3.05 per unit ($15.25 million) was fully subscribed, including the full exercise of the overallotment option.
• LIFE Financing Total: The LIFE financing, including the overallotment, totals $17,537,500 (Note: Text initially says $17,357,500 in headline but clarifies $17,537,500 in body; $17,537,500 is the mathematically consistent figure with the total).
• Total Aggregate Proceeds: Approximately $18,287,500 (sum of concurrent offering and total LIFE financing).
• Use of Proceeds: Future development of the Banio potash project and general working capital.
• Closing Date: Expected on or about January 29, 2026.
• Regulatory Approval: Subject to approval of the TSX Venture Exchange.
• Commission Structure:
  • Cash commission: Up to 6% of gross proceeds.
  • Commission warrants: Up to 4% of the aggregate number of units.
  • Commission Warrant Terms: Exercisable for one common share at $3.05 per share for 36 months following issuance.
• Strategic Context: Chairman Farhad Abasov highlighted strong confidence in the project, noting the advancement of a definitive feasibility study, environmental and social impact study, and work on offtakes and project financing.

Notable Quotes

• "We are very pleased to see Cantor Fitzgerald as lead underwrite the LIFE financing for Millennial. These financings reflect very strong confidence in our project. Millennial has been developing a potentially low-cost and large-resource potash project that could become a significant supplier of this critical mineral to the United States, Africa and Brazil. These financings strengthen our balance sheet at a crucial juncture of our development as the company has launched a definitive feasibility study, along with an environmental and social impact study, while advancing work on offtakes, project financing and other strategic matters." — Farhad Abasov, Chairman