Source: Millennial Potash Corp.
  • Millennial Potash Corp. (MLP) has announced a private placement for gross proceeds of $2 million
  • Under the offering, the company will issue 4,000,000 units at $0.50 per unit
  • Proceeds will be used to fund work at the company’s Banio Potash Project in Gabon
  • Millennial Potash Corp. (MLP) is up 3.64 per cent on the day, closing at C$0.57 per share

Millennial Potash Corp. (MLP) has announced a private placement for gross proceeds of $2 million.

Under the offering, the company will issue 4,000,000 units at $0.50 per unit. Each unit will consist of one common share and one-half share purchase warrant. Each share purchase warrant will be exercisable for one common share at 0.75 per share for two years.

Warrants will be subject to an acceleration clause.

The company will pay finders’ fees of up to 8 per cent in cash.

Proceeds will be used to fund work at the company’s Banio Potash Project in Gabon and for general working capital purposes.

Millennial Potash Corp. (MLP) is up 3.64 per cent on the day, closing at C$0.57 per share.


More From The Market Online
Bulldozers building dams at a mine site.

Victoria Gold might never recover from Yukon mine disaster

Victoria Gold will likely be dealing with last month's 300-million-litre cyanide spill at its Eagle mine in the Yukon for years to come.
Hole Ranger 01, core boxes 51 & 52 showing mineralized interval 225.5 to 234.48m of granitoids crosscutting massive gabbrodiorite.

Sienna significantly increases size of Saskatchewan gold project

Sienna Resources (TSXV:SIE) significantly increases its acreage on the Stonesthrow Gold Project in Saskatchewan.
A large mining truck driving out of a tunnel.

Eric Sprott confirms conviction in Jaguar Mining with latest buy

Eric Sprott buys 750,000 Jaguar Mining (TSX:JAG) shares for C$2,625,000, signalling continued conviction in one of his largest investments.