DGAP-News: Millennial Closes First Tranche of $30 Million Strategic Investment with GCL

Nachricht vom 10.11.2017 (www.4investors.de) -


DGAP-News: Millennial Lithium Corp. / Key word(s): Miscellaneous

Millennial Closes First Tranche of $30 Million Strategic Investment with GCL
10.11.2017 / 18:36


The issuer is solely responsible for the content of this announcement.

Vancouver, British Columbia--(Newsfile Corp. - November 10, 2017) - Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ('Millennial' or the 'Company') is pleased to announce that the Company has closed on the first tranche of a strategic investment from Million Surge Holdings Limited ('Million Surge'), a wholly-owned subsidiary of Golden Concord Group Limited ('GCL'), one of the largest integrated energy services providers in China that specializes in clean energy and new energy. Million Surge will acquire a total of 12,000,000 common shares (the 'Shares') to be issued by the Company in two tranches for the aggregate amount of $30 million at $2.50 per share on a private placement basis (the 'Private Placement'). Farhad Abasov, Millennial's President and CEO commented, 'We are very pleased with this strategic investment by GCL. GCL is a leading company in clean energy and related industries. GCL's investment in Millennial is a major milestone for our Company and is a testament to the strength of our Pastos Grandes lithium brine project and the strategic development plan pursued by the management team. We look forward to a fruitful partnership with GCL in the coming months and years.'As part of the Private Placement, GCL is granted the right to nominate a representative to the Company's Board of Directors as long as it holds 15% or more of the issued and outstanding shares of the Company (on a non-diluted basis). GCL is also granted, until the earlier of either (i) three (3) years after closing of the Private Placement, or (ii) GCL's interest in the Company falls below 15% (on a non-diluted basis), the right to participate in or match future share issuances so that it may maintain its percentage interest in the Company.In closing the first tranche of the Private Placement today, the Company issued a total of 6,300,000 Shares to Million Surge, representing approximately 9.9% of issued share capital. It is anticipated that the second tranche of the Private Placement, which will result in the issuance of the remaining 5,700,000 Shares of the total 12,000,000 Shares, will be issued upon completion of the Exchange's customary clearance process for new insiders. The aggregate 12,000,000 Shares to be acquired by Million Surge are expected, upon closing of the second tranche, to represent approximately 17% of the issued and outstanding common shares of the Company. The 6,300,000 Shares issued with the closing of the first tranche carry a resale restriction on the TSX Venture Exchange expiring four months from today's date. A finder's fee of 5% has been paid to VSA Capital Shanghai Limited of Shanghai, China on the proceeds of the first tranche of the Private Placement and a finder's fee of 5% will be payable to VSA Capital Shanghai Limited on the proceeds of the closing of the second tranche of the Private Placement.In addition, the Company and Million Surge have entered into an agreement whereby Million Surge will not sell any of the Shares before the date that is six (6) months from the date of the first tranche's closing (being May 10, 2018) and will not acquire additional Shares for three years from the date of the first tranche's closing, except with the consent of the Company. The Company plans to use the proceeds from the Private Placement to develop its lithium brine projects in Argentina.GCL will evaluate its investment in Millennial from time to time and may, subject to such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require and in accordance with TSX Venture Exchange rules. Prior to this acquisition, Million Surge and CGL did not own any securities of Millennial. About Golden Concord Group LimitedMillion Surge is a wholly-owned subsidiary of GCL. GCL is the world's largest manufacturer of high quality photovoltaic materials. GCL is an integrated energy group that specializes in clean, efficient and new energy. Since its foundation, GCL has committed itself to 'Bringing Green Power to Life' by providing supreme energy and delivering first-rate services. Through various innovations and its constant pursuit of excellence, GCL strives to be the most respectable international clean energy enterprise.GCL has established a solid foundation in major industries: power, photovoltaic and oil & gas. GCL owns a substantial interest in a number of publicly listed companies, including GCL-Poly Energy Holdings Limited (3800.HK), GCL New Energy Holdings Limited (0451.HK) and GCL System Integration Technology Co., Ltd. (002506.SZ).The GCL group has subsidiaries in the P.R. China, Hong Kong, Taiwan, the USA, Canada, Singapore, Indonesia, Ethiopia, Djibouti and many other areas in the world. GCL's head office is located at 28 Xinqing Road, Industrial Park District, Suzhou, Jiangsu Province, the P.R. China. Other InformationAn early warning report in respect of the Private Placement will be filed on the System for Electronic Document Analysis and Review (SEDAR) under the Company's profile at www.sedar.com and may be obtained by contacting Ms. Corrina Fung, at +852 2526 8368, email corinnafung@gcl-power.com.hk, or by letter to Unit 1703-1706, Level 17 International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong.To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com. Millennial's head office is located at 2000-1177 West Hastings Street, Vancouver, BC, V6E 2K3.MILLENNIAL LITHIUM CORP.'Farhad Abasov'President and CEO, DirectorNEITHER 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. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the 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, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. 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.


Click on, or paste the following link into your web browser, to view
the associated documents

http://www.newsfilecorp.com/release/30410












10.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
Millennial Lithium Corp.






Canada
ISIN:
CA60040W1059

 
End of News
DGAP News Service




628131  10.11.2017 





(Werbung)
PfeilbuttonOhne Depotgebühren. Mit Kosten-Airbag. Das Wertpapierdepot der MERKUR BANK.

4investors Exklusiv-Berichte und Interviews:
PfeilbuttonMensch und Maschine: „Auf Jahre hinaus noch genug Renditepotenziale“
PfeilbuttonStern Immobilien: In den attraktivsten Nischenmärkten Europas tätig
PfeilbuttonPNE Wind: Lesser sieht „attraktive Opportunitäten für Zukäufe“

Aktuelle Nachrichten aus der 4investors-Redaktion

23.02.2018 - Volkswagen meldet Zahlen: Dividende wird fast verdoppelt - Aktie rutscht ab
23.02.2018 - RIB Software: Kooperation mit Microsoft
23.02.2018 - Steinhoff Aktie gewinnt deutlich: Was ist hier los?
23.02.2018 - BMW: MINI-Jointventure mit Great Wall Motor geplant
23.02.2018 - Rhön-Klinikum erwartet 2018 Gewinnanstieg
23.02.2018 - OHB: Neuer Bundeswehr-Auftrag
23.02.2018 - CytoTools: Gericht macht Weg für Wandelanleihe frei
23.02.2018 - Telefonica Deutschland will profitabler werden und Dividende stützen
23.02.2018 - Baumot Aktie: Enttäuschung, aber…
23.02.2018 - E.On Aktie: Das Comeback läuft - oder?


Chartanalysen

23.02.2018 - Steinhoff Aktie gewinnt deutlich: Was ist hier los?
23.02.2018 - Baumot Aktie: Enttäuschung, aber…
23.02.2018 - E.On Aktie: Das Comeback läuft - oder?
23.02.2018 - Allianz mit News - was macht die Aktie?
23.02.2018 - ProSiebenSat.1 Aktie: Weitere Impulse sind gefragt!
23.02.2018 - Mensch und Maschine Aktie: Was ist hier los?
22.02.2018 - Steinhoff Aktie: Neue Verkaufssignale! Halten die Gläubiger still?
22.02.2018 - Evotec Aktie: Alles super?
22.02.2018 - Baumot Aktie: Heute wird es noch einmal spannend!
22.02.2018 - Paion Aktie erwacht aus dem Tiefschlaf - was passiert hier?


Analystenschätzungen

23.02.2018 - Mensch und Maschine: Starke Zahlen sorgen für neues Kursziel
23.02.2018 - Capital Stage: Aktie bleibt ein Kauf
23.02.2018 - Deutsche Konsum REIT: Expansion geht weiter
23.02.2018 - Süss MicroTec: Nichts Neues
23.02.2018 - E.On: Gute Nachricht aus Frankreich
23.02.2018 - Ströer: Veränderung beim Kursziel
23.02.2018 - ProSiebenSat.1: Keine gute Nachricht für Investoren
23.02.2018 - Deutsche Telekom: Eine Hochstufung der Aktie
23.02.2018 - Aixtron: 2018 kann ein sehr gutes Jahr werden – Aktie mit starker Entwicklung
22.02.2018 - Splendid Medien: Differenz zwischen Kurs und Kursziel


Kolumnen

23.02.2018 - Vonovia und Co.: Zinssorgen belasten Wohnaktien, fundamentales Bild intakt - Commerzbank Kolumne
23.02.2018 - FMC Aktie: Weiteres Erholungspotenzial vorhanden - UBS Kolumne
23.02.2018 - DAX: Die Volatilität bleibt hoch - UBS Kolumne
23.02.2018 - DAX: Erholung zum Wochenende - Donner + Reuschel Kolumne
22.02.2018 - ifo-Geschäftsklima sinkt deutlich – Wirtschaft startet aber schwungvoll ins Jahr - Nord LB Kolumne
22.02.2018 - ifo Index: Rückgang, aber es gibt kein Grund zur Sorge - VP Bank Kolumne
22.02.2018 - Einkaufsmanagerindizes geben stärker als erwartet nach - Commerzbank Kolumne
22.02.2018 - DAX mit schwachem Stand: „Long-Legged-Doji“ - Donner + Reuschel Kolumne
22.02.2018 - ThyssenKrupp Aktie: Der Abwärtstrend könnte sich fortsetzen - UBS Kolumne
22.02.2018 - DAX: Warten auf frische Impulse - UBS Kolumne

Werbung

All Right Reserved by minimalthemes - ©2018 Stoffels & Barck GbR