/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Feb. 20, 2018 /CNW/ - Millennial Lithium Corp.
("Millennial" or the "Company") (TSXV:ML) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) is pleased to
announce that it has entered into an agreement with a syndicate of
underwriters co-led by Canaccord Genuity Corp. and Cantor
Fitzgerald Canada Corporation as joint bookrunners, and including
Cormark Securities Inc. and Sprott Capital Partners (collectively,
the "Underwriters") pursuant to which the Underwriters have agreed
to purchase, on a bought deal basis pursuant to a short form
prospectus, 6,000,000 units (the "Units") of the Company at a price
of C$3.50 per Unit (the "Offering
Price") for gross proceeds of C$21,000,000 (the "Underwritten Offering").
Each Unit shall consist of one common share of the Company and one
half of one common share purchase warrant (each whole common share
purchase warrant, a "Warrant"). Each Warrant shall be
exercisable for one common share of the Company for a period of 24
months from the Closing Date (as herein defined) at an exercise
price of C$4.25.
In addition, the Company has granted the Underwriters an option
(the "Over-Allotment Option" and together with the Underwritten
Offering, the "Offering") to purchase additional Units at the
Offering Price to raise additional gross proceeds of up to 15% of
the Underwritten Offering, for a period of 30 days after and
including the Closing Date to cover over-allotments, if any, and
for market stabilization purposes.
The net proceeds from the Offering are expected to be used by
the Company for exploration and development activities at the
Company's Lithium Properties in Argentina and for general working capital
purposes.
Closing of the Offering is expected to take place on or about
March 13, 2018 and is subject to
certain conditions including, but not limited to the receipt of all
applicable regulatory approvals including approval of the
TSX-V.
The Units to be issued under the Offering will be offered by way
of a short form prospectus in each of the provinces of Canada, except Québec. The Units to be issued
under the Offering may also be offered in the United States on a private placement basis
pursuant to exemptions from the registration requirements of the
United States Securities Act of 1933 (the "U.S. Securities Act"),
as amended, and certain other jurisdictions in accordance with
applicable securities laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities have
not been and will not be registered under the U.S. Securities Act,
or the securities laws of any state of the United States and may not be offered or
sold within the United States (as
defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
MILLENNIAL LITHIUM CORP.
"Graham Harris"
Chairman on behalf of the Board of
Directors
NEITHER THE 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 certain
"Forward‐Looking Statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities laws. When used in
this news release, the words "anticipate", "believe", "estimate",
"expect", "target, "plan", "forecast", "may", "schedule" and
similar words or expressions identify forward‐looking
statements or information. Forward‐looking statements
contained in this news release include statements regarding the
closing of the Offering, the timing of the closing of the Offering,
the use of proceeds from the Offering, the receipt of requisite
regulatory approvals and the exercise of the
Over‐Allotment Option. These
forward‐looking statements are based on reasonable
assumptions and estimates of management of the Company, at the time
they were made, involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward‐looking statements. Such risks and
factors include, among others, volatility in the trading price of
the Company's common shares, risks relating to the ability of the
Company to obtain the requisite regulatory approvals relating to
the Offering, volatility of future commodity prices, accuracy of
mineral or resource estimates, results of exploration activities,
reliability of third party information, continued access to mineral
properties or infrastructure, currency risks (including the
exchange rate of USD$ for Cdn$), fluctuations in the market for
lithium and changes in exploration costs and government royalties
or taxes in Argentina. Many
factors, both known and unknown, could cause results, performance
or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward‐looking statements. The Company does
not intend, and does not assume any obligation, to update these
forward‐looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
SOURCE Millennial Lithium Corp.