Millennial Lithium Corp MLNLF

25 million financing

[oceaneleven]

Mr. Farhad Abasov reports

MILLENNIAL ANNOUNCES BOUGHT DEAL PUBLIC OFFERING TO RAISE GROSS PROCEEDS OF C$25 MILLION

Millennial Lithium Corp. has entered into an agreement with Cantor Fitzgerald Canada Corp. and Sprott Capital Partners LP, pursuant to which the co-lead underwriters have agreed, on behalf of a syndicate of underwriters, to purchase, on a bought-deal basis pursuant to a short-form prospectus, 6.25 million units of the company at a price of $4 per unit for gross proceeds of $25-million. Each unit shall consist of one common share of the company and one-half of one common share purchase warrant. Each warrant shall be exercisable for one common share of the company for a period of 36 months from the closing date (as herein defined) at an exercise price of $4.80.

[bingostar]

Disappointing , i was expecting a deal with a private strategic partner.

[tiger6301]

I was expecting the same thing as you did.  Nothing else we can do, it's a pain short term, and gain long term. It should have alarmed me but I didn't react, when I saw the inside selling from the chairman. tiger

[Schmid]

Hey Ocean, long time no see.  I love your new look.  Just had to warn you about Paranoidone82 New to Stockhouse and posts as plain @Paranoid on CEO.ca  Classic Broker's Soft Basher, check and see, YOU'LL agree. NEXT !!! Your welcome

[Allanapotashbelgium]

Interesting - the company has always perfectly timed capital raises in the past. Should be interesting to see how this fits in the overall financing of the project and the ongoing negotiations. 

[oceaneleven]

why no MOU with a companies for off take agreements.....Orocobre has a MOU with prime planet energy solutions(Toyota/Panasonic jv) that should be inked by this August...Being an ex Allana Potash shareholder(obvious by your name) that Farhad sells out on the cheap....why settle for jello when you can have pudding eh!!!!!

[oceaneleven]

halt will be removed soon as they just added 5 mil to the kitty....

[Allanapotashbelgium]

I'm guessing it will not take too long before we will know more on the offtakers/strategic investors. Why waste time on a MOU when the actual agreement is imminent... Increasing capital at current prices can only increase the bargaining power in the ongoing negotiations. Pretty confident that this will play out differently than Allana Potash (already has for me since I'm currently holding