On June 16, 2022, Millennial Precious Metals Corp. closed a prospectus offering of 40,184,830 units at a price of $0.40 per unit for aggregate gross proceeds of approximately $16.1 million, which includes the partial exercise of the over-allotment option. Each unit consists of one common share of Millennial and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of $0.55 for a period of 24 months from the closing of the offering.
The offering was led by Eight Capital on behalf of a syndicate of underwriters, including Cormark Securities Inc., PI Financial Corp., Stifel Nicolaus Canada Inc., and Sprott Capital Partners LP.
Cassels acted for the underwriters.