Millennial Potash raises $750,000 in private placement alongside $17.4M financing

Millennial Potash Corp. (TSXV: MLP) announced a private placement of approximately 245,900 units at $3.05 per unit for proceeds of about $750,000, conducted alongside its previously announced LIFE Financing totaling $17,357,500.

Each unit consists of one common share and one-half of one common share purchase warrant. The warrants allow holders to purchase one common share at $4.00 per share within three years of issuance.

The company stated it will use proceeds from the concurrent offering for future development of its Banio Potash Project and general working capital purposes. The concurrent units and underlying warrant shares will be subject to a four-month resale restriction.

The concurrent offering is expected to close on or about January 29, 2026, subject to TSX Venture Exchange approval. The company will pay commissions of up to 6% of gross proceeds raised and issue commission warrants equal to up to 4% of the aggregate number of units sold.

"We are very pleased to see Cantor Fitzgerald as lead underwrite the LIFE Financing for Millennial," said Chairman Farhad Abasov. "These financings reflect very strong confidence in our project."

The LIFE Financing consisted of 5,000,000 units at $3.05 per unit for $15,250,000, with an overallotment option that was fully exercised, bringing the total to $17,537,500. Combined with the concurrent offering, total proceeds amount to approximately $18,287,500.

Millennial Potash has launched a definitive feasibility study and environmental and social impact study for its Banio Potash Project, while advancing work on offtakes and project financing.

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