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Millennium Silver Corp. (TSXV: MSC) ("Millennium" or the "Company"), reports that further to its January 14, 2026 press release, it has applied for conditional acceptance of its previously announced non-brokered private placement for total proceeds of $2,888,905 (the "Private Placement"). The oversubscribed Private Placement consists of 192,593,667 units at $0.015 per unit. Each unit is comprised of one (1) common share and one (1) non-transferable share purchase warrant (the "Warrant"). Each Warrant shall have a term of five (5) years from the date of issuance, and shall entitle the holder to purchase one (1) additional common share at an escalating exercise price as follows: $0.05 per share within the first three years after issuance; $0.10 per share in years four and five.
The Company will pay up to a 6% finder's fee in cash and issue up to an aggregate of 7,885,020 non-transferable finder's compensation warrants to the eligible arm's length finders (the "Finder's Warrants"), with respect to $1,971,255 of the Private Placement. Each Finder's Warrant entitles the holder to purchase one (1) additional common share at an escalating exercise price as follows: $0.05 per share within the first three years after issuance; $0.10 per share in years four and five.
Proceeds from the Private Placement will be used for exploration (pursuant to the Company's 2019 NI 43-101 Technical Report), accounts payable, and working capital. All securities issued in connection with the Private Placement will have a statutory hold period of four months and one day from the date of issuance.
Closing of the Private Placement is subject to approval of the TSX Venture Exchange (the "TSX-V").
Certain insiders participated in the Private Placement for aggregate investment of $303,000, which is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The participation of insiders in the Private Placement is expected to be exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, will not exceed 25% of the Company's market capitalization.
Millennium Silver Corp. (TSXV: MSC) is focused on the exploration and development of its Nevada projects. The Company's common shares trade on the TSX Venture Exchange under the symbol: MSC.
ON BEHALF OF THE BOARD
"Robert Drago"
Robert Drago
President & CEO
CONTACT: Darren Timmer, Director
Telephone: (604) 527-8146
E-mail: info@millenniumsilver.ca
Further information about the Company can be found on SEDAR (www.sedarplus.ca) or at www.millennium-silver.ca.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284770
