Millennium Silver Corp. Announces Oversubscription of Private Placement

Executive Summary

• Millennium Silver Corp. announced the conditional acceptance of its oversubscribed non‑brokered private placement for total gross proceeds of $2,888,905.
• The offering consists of 192,593,667 units at $0.015 per unit, each unit containing one common share and one five‑year non‑transferable warrant with escalating exercise prices ($0.05 for years 1‑3, $0.10 for years 4‑5).
• Proceeds will be allocated to exploration activities (per the 2019 NI 43‑101 Technical Report), accounts payable, and working capital; the placement is subject to TSX‑V approval and includes a finder's fee arrangement.

Key Details

• Units Offered: 192,593,667 units @ $0.015 per unit → $2,888,905 gross proceeds.
• Unit Composition: 1 common share + 1 non‑transferable share purchase warrant.
• Warrant Terms: 5‑year term; exercise price $0.05/share for the first three years, $0.10/share in years four and five.
• Finder’s Compensation: Up to a 6% cash fee plus up to 7,885,020 non‑transferable finder’s warrants covering $1,971,255 of the placement; same escalating exercise price schedule as above.
• Use of Proceeds: Exploration (as outlined in the 2019 NI 43‑101 Technical Report), settlement of accounts payable, and general working capital.
• Statutory Hold Period: All securities issued are subject to a hold period of four months and one day from issuance.
• Insider Participation: Insiders invested $303,000, qualifying as a related‑party transaction under MI 61‑101; exempt from formal valuation and minority shareholder approval because the fair market value does not exceed 25% of market cap.
• Closing Conditions: Closing pending approval by the TSX Venture Exchange (TSX‑V).

Notable Quotes

• “The successful oversubscription of this private placement provides us with the capital needed to advance our Nevada exploration program and strengthen our balance sheet.” – Robert Drago, President & CEO.