Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) announced it has raised $1 million in a private placement of 4 million units priced at $0.25 each.
Each unit consisted of one share and one-half of a share purchase warrant which is exercisable at $0.35 for two years from the date of issue.
The company said it has received the funds and anticipates closing upon the receipt of exchange approval.
The proceeds of the private placement will be used to fund exploration and development of Millennial’s Banio potash project and for general working capital purposes.