Millennial Potash Corp. (TSXV: MLP | OTCQB: MLPNF | FSE: X0D) is engaging in a non-brokered private placement of up to 5M units at a price of C$0.40 per unit.
Each unit is comprised of one common share and one-half of one share purchase warrant exercisable at a price of C$0.60 per share for a period of two years from the date of issuance.
A commission of seven percent cash and seven percent finders warrants will be payable on a portion of the private placement.
The company has said that proceeds of the private placement will be used to fund the company’s further exploration and development of its Banio Potash Project, as well as for general working capital purposes.
The Banio project covers 1,238km2 and is located in the south-west corner of Gabon approximately 450km south of Libreville along the Atlantic coast. It is located on the seaward side of a long lagoon which extends from Mayumba in the north to the border of Republic of Congo.
Millennial’s board and management are led by Farhad Abasov, Graham Harris, Peter MacLean, and Jason Wilkinson. The team has built and successfully exited multiple resource companies including Millennial Lithium, Allana Potash, Potash One, and Energy Metals.
To find out more, please visit www.millennialpotash.com
