Millennial Potash arranges $15.25-million financing

Executive Summary

• Millennial Potash Corp. announced a "bought deal" private placement offering (LIFE) of 5,000,000 units at $3.05 per unit, raising aggregate gross proceeds of $15,250,000.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $4.00 per share for three years.
• Cantor Fitzgerald Canada Corp. is acting as lead underwriter, receiving 6% cash commissions and broker warrants, with the company targeting a closing date of January 29, 2026.

Key Details

• Offering Structure: 5,000,000 units offered at $3.05 per unit.
• Gross Proceeds: $15,250,000.
• Unit Composition: Each unit comprises one common share and 0.5 common share purchase warrant.
• Warrant Terms (Investors): Each warrant allows the holder to acquire one common share at an exercise price of $4.00. Warrants expire three years from the closing date.
• Underwriter: Cantor Fitzgerald Canada Corp. (CFCC) acting as lead underwriter and sole bookrunner.
• Underwriter Compensation:
  • Cash commissions: 6% of gross proceeds.
  • Broker's warrants: 4% of the aggregate number of offered units sold.
  • Broker's Warrant Terms: Entitle holder to purchase one common share at $3.05 per share for a period of 36 months.
• Over-Allotment Option: Underwriters have an option to purchase up to an additional 15% of offered units (approx. 750,000 units) at the issue price, exercisable up to 48 hours prior to closing.
• Use of Proceeds: Costs for a definitive feasibility study for the Banio potash project and general working capital.
• Closing Date: Expected on or about January 29, 2026, subject to regulatory approvals including TSX Venture Exchange acceptance.
• Regulatory Basis: Listed Issuer Financing Exemption under National Instrument 45-106 (Part 5A) and Coordinated Blanket Order 45-935. No statutory hold period applies.
• Jurisdictions: Offered to purchasers in Canada (excluding Quebec) and potentially in the US and other jurisdictions via private placement exemptions.

Notable Quotes

• No direct quotes from management were included in the provided text.