New Risk • May 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 62% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (CA$18m net loss in 3 years). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). Announcement • Jan 30
Millennial Potash Corp. announced that it has received CAD 15.999998 million in funding On January 29, 2026, Millennial Potash Corp. closed its "bought deal" private placement offering (the "LIFE Offering") and Concurrent Non-Brokered Private Placement for Total aggregate gross Proceeds of CAD 18,287,500. The company issued 5,750,000 units at a price of CAD 3.05 per LIFE Unit for gross proceeds of CAD 17,537,500, including the full exercise of the option granted to the syndicate of Underwriters for 750,000 units at a price of CAD 3.05 for gross proceeds of CAD 2,287,500 as part of overallotment option sold under the LIFE Offering. The company also issued 245,901 units of the Company (the "Non-LIFE Units") at a price of CAD 3.05 for gross proceeds of CAD 750,000 under the concurrent non-brokered private placement offering. Each LIFE Unit and Non-LIFE Unit consisted of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of CAD 4.00 for a period of 36 months from the closing date. In consideration for their services, the Company paid the Underwriters a cash commission equal to CAD 1,052,250 and issued to the Underwriters non-transferable compensation options entitling the Underwriters to purchase up to 230,000 Common Shares at a price per Common Share equal to the Offering Price until January 29, 2029. The Common Shares underlying the compensation options are subject to a four-month resale restriction. The LIFE Units issued to subscribers under the LIFE Exemption are not subject to a hold period pursuant to applicable Canadian securities laws. The Non-LIFE Units, together with the Common Shares and Warrants comprising the Non-LIFE Units, are subject to a four-month resale restriction. The LIFE Offering remains subject to the final approval of the TSX Venture Exchange (the "TSXV"). Announcement • Jan 20
Millennial Potash Corp. announced that it expects to receive CAD 15.25 million in funding Millennial Potash Corp. announced a private placement under LIFE Offering of 5,000,000 Units of the company at price per Unit of CAD 3.05 for gross proceeds of CAD 15,250,000 on January 19, 2026. Each offered unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of CAD 4 at any time until the date that is three years from the closing date. In connection with the LIFE offering, Cantor Fitzgerald Canada Corp. (CFCC) is acting as lead underwriter and sole bookrunner under the terms of a letter agreement dated Jan. 19, 2026. Under the CFCC agreement, CFCC will, on its own behalf and on behalf of a syndicate of underwriters, agree to purchase the offered units. The CFCC agreement is to be replaced by an underwriting agreement prior to or concurrently with the closing date. The CFCC agreement calls for the underwriters to receive cash commissions equal to 6% of the gross proceeds of the LIFE offering and brokers' warrants equal to 4% of the aggregate number of offered units sold. Each of these broker's warrants will entitle the holder, for a period of 36 months, to purchase one common share at CAD 3.05 per common share. The company has granted to the underwriters an option, exercisable in whole or in part at any time up to 48 hours prior to the closing date, to arrange for the purchase at the issue price of up to an additional 15% of offered units sold under the LIFE offering. The closing date is expected to occur on or about January 29, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the acceptance of the TSX Venture Exchange. Securities issued under the LIFE offering will not be subject to a statutory hold period under applicable Canadian securities laws, in accordance with the listed issuer financing exemption. 
