Millennial raises C$15m for Nevada exploration

19th May 2022 By: Mariaan Webb - Creamer Media Senior Deputy Editor Online

Toronto-headquartered Millennial Precious Metals has announced a bought-deal financing to raise C$15-million, which it will use to advance exploration, permitting and engineering studies at its Nevada projects.

The company has entered into an agreement with Eight Capital, as lead underwriter and sole bookrunner, pursuant to which the underwriters have agreed to purchase, on a bought-deal basis pursuant to a short form prospectus, 37.5-million units at C$0.40 an unit.

The net proceeds would be used for the Wildcat and Mountain View projects I support of an updated mineral resource, preliminary economic assessment and exploration plan of operations at both projects, as well as for final asset acquisition payments.