On March 13, 2018, Millennial Lithium Corp. (TSXV: ML) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) announced that it had closed its previously announced bought deal offering of units for aggregate gross proceeds of $24.15 million, including proceeds from units sold pursuant to the full exercise of the underwriters’ over-allotment option. The units were offered by way of a short form prospectus filed in each of the provinces of Canada, except Quebec.
Net proceeds will be used by Millennial Lithium for exploration and development activities at the company’s lithium properties in Argentina and for general working capital purposes.
The offering was conducted by 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 Private Wealth LP.
Miller Thomson advised the underwriters with a team that included Dwight Dee, Kevin Sorochan and Elizabeth Holden.