Millennial Closes Bought Deal LIFE Offering and Concurrent Private Placement

Toronto, Canada – has successfully closed its previously announced bought deal public offering under the Listed Issuer Financing Exemption (LIFE), together with a concurrent non-brokered private placement, raising total gross proceeds of approximately $18.29 million. This financing marks a significant milestone for the company as it advances its exploration and development strategy while reinforcing its balance sheet in a challenging global market environment.

Overview of the LIFE Offering

The LIFE offering consisted of the issuance of 17,537,500 units at a price of $1.00 per unit, generating gross proceeds of approximately $17.54 million. Each unit was comprised of one common share of the company and one-half of one common share purchase warrant.

Each whole warrant entitles the holder to acquire one additional common share at an exercise price of $1.30 for a period of 36 months from the date of issuance. The offering was conducted pursuant to the LIFE provisions under Canadian securities laws, allowing the securities to be issued without a prospectus and immediately tradeable upon issuance.

This structure provides enhanced liquidity for investors while enabling Millennial to efficiently access capital markets with reduced regulatory complexity.

Concurrent Non-Brokered Private Placement

In addition to the LIFE offering, Millennial completed a concurrent non-brokered private placement, issuing 750,000 units at the same price of $1.00 per unit, for additional gross proceeds of $750,000.

The private placement units were issued on substantially the same terms as the LIFE offering units, including one common share and one-half warrant per unit. However, the securities issued under the private placement are subject to a statutory hold period in accordance with applicable securities regulations.

By combining both financings, Millennial was able to maximize capital inflows while maintaining flexibility in investor participation.

Total Proceeds and Use of Funds

The combined financings resulted in total gross proceeds of approximately $18.29 million. According to the company, the net proceeds will be primarily allocated toward:

• Advancement of exploration and development activities at its core potash assets
• Technical studies, including geological modeling and resource evaluation
• Environmental baseline studies and permitting activities
• General working capital and corporate purposes

This disciplined allocation strategy reflects Millennial’s long-term vision of building a robust and scalable potash development platform.

Strategic Importance of the Financing

Closing a financing of this scale demonstrates strong investor confidence in Millennial’s asset base, management team, and strategic direction. Potash remains a critical input in global agriculture, and long-term demand is supported by population growth, food security concerns, and the need for sustainable crop yields.

With fresh capital in hand, Millennial is well-positioned to accelerate project milestones, reduce execution risk, and enhance shareholder value over time.

Market Context and Industry Outlook

The global potash market continues to experience structural shifts driven by geopolitical developments, supply chain realignments, and evolving agricultural practices. Against this backdrop, junior and mid-tier exploration companies with high-quality assets are increasingly viewed as strategic opportunities.

Millennial’s successful financing comes at a time when access to capital remains selective, highlighting the company’s ability to attract institutional and strategic investors even in a cautious market environment.

Investor Participation and Regulatory Framework

The LIFE offering was made available to investors in all Canadian provinces, except Québec, under the Listed Issuer Financing Exemption. This exemption allows companies listed on recognized Canadian exchanges to raise capital efficiently while ensuring that investors have access to continuous disclosure documents.

No finder’s fees were paid in connection with the LIFE offering, while certain eligible finders received customary fees in relation to the private placement portion.

Management Commentary

Management emphasized that the completion of the financing represents a strong endorsement of Millennial’s corporate strategy. The company reiterated its commitment to responsible development, transparent communication with stakeholders, and prudent capital management.

By strengthening its treasury, Millennial believes it can pursue exploration programs with greater confidence and flexibility, positioning itself for future growth opportunities.

Impact on Capital Structure

Following the completion of the offering and private placement, Millennial’s capital structure has been enhanced with additional equity while maintaining a manageable level of potential dilution through warrant issuance. The extended warrant expiry period provides long-term optionality for investors and potential future capital inflows for the company.

Commitment to Long-Term Value Creation

Millennial continues to focus on creating sustainable long-term value for shareholders. The company’s strategy emphasizes high-quality assets, disciplined exploration spending, and alignment with global trends in food security and agricultural sustainability.

As the company advances its projects, management plans to provide regular updates on exploration progress, technical results, and strategic initiatives.

Conclusion

The successful closing of the $18.29 million LIFE offering and concurrent private placement marks a pivotal achievement for Millennial. With a strengthened financial position, the company is well-equipped to execute its growth strategy, advance its potash projects, and navigate evolving market conditions.

This financing not only enhances Millennial’s operational capacity but also reinforces its standing as a credible and well-supported participant in the global potash exploration sector.

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