Millennial Potash Announces U.S International Development Finance Corporation's Strategic Project Development Support for its Banio Potash Project in Gabon

Core Viewpoint - Millennial Potash Corp. has secured a strategic investment of up to US $3,000,000 from the U.S. International Development Finance Corporation (DFC) for its Banio Potash Project in Gabon, which will support a feasibility study and enhance food security in Africa [2][3]. Group 1: Investment Details - The DFC's investment will be utilized for project development funding, specifically for a feasibility study on the Banio Potash Project, which is set to begin in the coming months [2][4]. - The funding from DFC will be released based on milestone activities completed during the feasibility study, with no interest payable and repayment triggered by the company securing financing for project construction [5]. Group 2: Strategic Importance - The DFC recognizes the Banio Potash Project's potential to stabilize and enhance food availability across Africa, positioning Gabon as an emerging exporter in the agricultural supply chain [3]. - The investment is seen as timely for Millennial Potash as it transitions from exploration to development, with the DFC's involvement helping to derisk the project [3][4]. Group 3: Government and Community Support - The Government of Gabon fully supports the DFC investment, with the President of Gabon attending the signing ceremony, highlighting the collaboration between the U.S. and Gabon for economic growth [3][9]. - DFC's Head of Investments emphasized the project's role in boosting domestic potash production, which is crucial for increasing crop yields and fostering sustainable agriculture in Africa [3].