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TORONTO, April 29, 2016 /CNW/ - MillenMin Ventures Inc.
(TSX-V: MVM) ("MillenMin" or the "Corporation")
has closed a non-brokered private placement (the "Private
Placement") of 7,000,000 common shares ( "Shares" ) at a
price of $0.015 per Share for
aggregate gross proceeds of $105,000,
as disclosed in its press release dated April 15, 2016.
The Corporation has undertaken to the TSXV to seek shareholder
approval for a consolidation of its common shares on the basis of
one post‑consolidation common share for every four
pre‑consolidation common shares no later than the earlier of its
next annual general and special meeting and six months from the
date of completion of the Private Placement. Shareholders of the
Corporation holding an aggregate 5,612,000 common shares
representing 61.67% of the current issued and outstanding common
shares and all the subscribers to the Private Placement have signed
the confirmations to vote in favour of the share consolidation.
Mr. Yunkai Cai, President and a director of the Corporation,
subscribed for one million Shares, or 14.3% of seven million
Shares. There are neither finders' fees nor commissions to be paid
in connection with the Private Placement. The Shares issued
pursuant to the Private Placement will be subject to a 4 month hold
period expiring August 30, 2016.
The proceeds of the Private Placement will be used to pay
current liabilities, and for the identification and evaluation of
mining assets and for general working capital purposes.
Additional information about the Corporation is available to the
public on SEDAR at www.sedar.com.
Neither 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.
Forward-Looking Statements
This press
release may include forward-looking information within the meaning
of applicable securities laws including information concerning the
business and future results of the Corporation. Any such
forward-looking statements are subject to risks and uncertainties.
Additional information on these and other potential factors that
could affect the Corporation's actual results, performance or
achievements are detailed in disclosure documents filed from time
to time with the applicable securities regulatory authorities.
The Corporation disclaims any obligation to update or revise
any forward-looking information or statements except as may be
required under the applicable laws.
SOURCE MillenMin Ventures Inc.