Millennial Announces Closing Private Placement for Total Proceeds of $9,188,880

Core Viewpoint - Millennial Potash Corp. has successfully closed a private placement, raising approximately CDN$9.19 million to fund exploration and development activities for its Banio Potash Project and for general working capital purposes [1][2][3] Group 1: Private Placement Details - The private placement consisted of 5,928,310 units priced at $1.55 each, resulting in total proceeds of CDN$9,188,880 [2] - Each unit includes one common share and one-half share purchase warrant, with warrants exercisable at CDN$2.20 per share for two years [1][2] - Commissions totaling CDN$477,846.65 were paid for non-insider units of the private placement [2] Group 2: Acquiror Information - The Quaternary Group Ltd. acquired 1,290,323 units in the private placement, increasing its total holdings to 26,092,056 common shares and 9,311,829 share purchase warrants [5][6] - Prior to the private placement, the Acquiror held approximately 24.81% of the outstanding shares on a non-diluted basis, which decreased to 24.64% post-acquisition [5][6] - The Acquiror's current holdings represent approximately 30.73% of the outstanding common shares assuming the exercise of all its share purchase warrants [6] Group 3: Use of Proceeds - Proceeds from the private placement will be allocated to exploration and development activities for the Banio Potash Project, as well as for general working capital [3]