Millennial Potash Corp Announces Closure of Second Tranche of Private Placement
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) has announced the successful closure of the second tranche of its previously announced private placement. The company issued a total of 7 million units at a price of CAD 0.30 per unit, generating proceeds of approximately CAD 2.1 million.
Details of the Private Placement
Each unit consists of one common share and a half warrant. The half warrants are exercisable at a price of CAD 0.40 per common share for a period of two years from the date of issuance.
Use of Proceeds
The net proceeds from the private placement will be used to advance the development of the company’s Seddon Potash Project in Saskatchewan, Canada. This includes the completion of the feasibility study, engineering design, and permitting activities.
Impact on Millennial Potash
The successful closure of the second tranche of the private placement is a positive development for Millennial Potash. The proceeds will provide the company with the necessary funds to continue the development of its Seddon Potash Project. This could lead to potential growth and increased shareholder value as the project progresses.
Impact on the World
The potash industry is an essential contributor to global food production, as it is a key ingredient in the production of fertilizers. Millennial Potash’s Seddon Potash Project could potentially add to the world’s supply of this essential resource. The successful financing of the project could lead to the creation of new jobs and economic opportunities in Saskatchewan, Canada.
Conclusion
Millennial Potash Corp’s successful closure of the second tranche of its private placement is a positive development for the company and the potash industry as a whole. The proceeds from the placement will be used to advance the development of the Seddon Potash Project, which could lead to potential growth and increased shareholder value. Additionally, the project’s potential impact on global food production and the creation of new jobs in Saskatchewan make this a significant development.
- Millennial Potash Corp has closed the second tranche of its private placement, issuing 7 million units at CAD 0.30 per unit for total proceeds of CAD 2.1 million.
- Each unit consists of one common share and a half warrant, with half warrants exercisable at CAD 0.40 per common share for two years.
- The net proceeds from the private placement will be used to advance the development of the Seddon Potash Project in Saskatchewan, Canada.
- The successful financing of the project could lead to potential growth and increased shareholder value for Millennial Potash.
- The potash industry is an essential contributor to global food production, and the Seddon Potash Project could potentially add to the world’s supply of this essential resource.
- The project’s potential impact on global food production and the creation of new jobs in Saskatchewan make this a significant development for the industry and the local economy.
