Millennial Engages in Non-Brokered Private Placement of Units for Proceeds of $750,000 Concurrently with Previously Announced Life Financing of $17,357,500

The most recent news release, dated January 23, 2026, announces that Millennial Potash Corp. has engaged in a non-brokered private placement of units for gross proceeds of CAD $750,000. This offering is concurrent with a previously announced Listed Issuer Financing Exemption (LIFE) offering, which was fully subscribed for gross proceeds of CAD $17,357,500 (as referenced, up from the initial $15,250,000 announced on January 19, 2026). The concurrent placement consists of 245,900 units at a price of CAD $3.05 per unit, with each unit comprising one common share and one warrant exercisable at CAD $4.00 for 36 months. Proceeds are intended for the future development of the Banio Potash Project in Gabon and general working capital. The company notes that Cantor Fitzgerald is the lead underwriter for the LIFE financing, and both offerings are subject to TSX Venture Exchange approval.

This news is a routine capital-raising event. While the additional $750,000 provides incremental funding, it represents a small supplement (approximately 4.3%) to the larger $17.4 million LIFE financing already secured. The primary impact is strengthening the balance sheet to fund the ongoing Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA), as previously communicated. There is no new strategic investor participation mentioned, and the terms (warrant exercise price of $4.00) are above the recent trading price (~$2.82), indicating market confidence but not an exceptional premium. In the context of the company's progression—following a major resource update in November 2025 and DFS initiation in January 2026—this financing is positive but expected, as the company had indicated it was "fully funded" for the DFS. Therefore, it confirms funding continuity without exceeding expectations or introducing new material catalysts.

Millennial Potash Corp. (TSXV: MLP) is a Canadian exploration and development company focused on its flagship Banio Potash Project in Gabon, West Africa. The project targets carnallitite and sylvinite mineralization for potash production via solution mining. Key developments: - Resource Growth: As of November 2025, the updated Mineral Resource Estimate showed Measured + Indicated resources of 2.45 billion tonnes grading 16.6% KCl and Inferred resources of 3.56 billion tonnes grading 15.6% KCl, a 275% increase from prior estimates. - Project Stage: The project has transitioned from exploration to development, with a Definitive Feasibility Study (DFS) initiated in January 2026 and an Environmental and Social Impact Assessment (ESIA) underway. - Infrastructure: The project benefits from proximity to the developing Mangali Port and Mayumba Power Station in southern Gabon, enhancing logistics and power access. - Economics: A Preliminary Economic Assessment (April 2024) indicated a post-tax NPV10 of $1.07 billion USD and IRR of 32.6%, with operating costs estimated at $61 USD per tonne of granular potash.