Millennial Potash Corp. Announces Appointment of Dr. Mark Stauffer as Director and Resignation of Luke Norman, Engagement of Oak Hill Financial for Investor Relations
Vancouver, March 20, 2023 - Millennial Potash Corp. (TSXV: MLP) ("MLP" "Millennial" or the "Company") is pleased to announce that Dr. Mark D. Stauffer, Ph.D. and P.Ag. has been appointed to the Company's Board of Directors. Dr. Stauffer is the former President of the Potash and Phosphate Institute of Canada ("PPIC"), and former Senior Vice President of International Programs, at the Potash and Phosphate Institute ("PPI"), now the International Plant Nutrition Institute. He is also a past Director of Migao Corporation, a China based specialty potash producer, a past Chairman of Allana Potash Corp. and a past Director of Gensource Potash Corp.
Farhad Abasov, Millennial's Chair, commented, "We are very pleased that Dr. Stauffer has decided to join Millennial's Board. Dr. Stauffer has a long, distinguished career in potash, phosphate and fertilizer applications and marketing as well as the junior mining sector. Over his career he has developed international programs promoting the benefit of balanced fertilizer applications, particularly in developing countries including Africa, and he will be instrumental in our efforts to bring increased food production to the region. The addition of Dr. Stauffer continues our efforts to form a strong potash-focused Board and we are looking forward to his contributions as we accelerate the development of our Banio Potash Project in Gabon."
Dr. Stauffer has had an extensive career in agriculture development and the fertilizer business. He has worked in both the public and private sectors in research, education and chemical production and sales. In 1988, Dr. Stauffer became a regional director of PPI and PPIC and in 1994 was promoted to the position of Vice President, International Programs at PPI and became the President of PPIC. During his tenure as President of PPIC, Dr. Stauffer coordinated PPIC's seven international research and education-based potash and phosphate market development programs throughout Asia and Latin America. Dr. Stauffer has lectured on the role of potash and phosphate in increasing food production and the role of balanced fertilizer practices in maximizing crop yield and income opportunities for the farming community.
Dr. Stauffer's mining experience includes time as Allana Potash's Chairman from 2010 to 2015 where he successfully guided the company through the exploration and feasibility stages at its Danakhil Potash Project in Ethiopia culminating in the sale of Allana to Israel Chemicals Ltd. in 2015. Dr. Stauffer obtained his B.Sc. (Agriculture) and M.Sc. from the University of Guelph and obtained his Ph.D. in Agronomy from the Virginia Polytechnic Institute & State University.
The Company would also like to announce the resignation of Luke Norman from the Board and wish him the best in his future endeavours and mining projects.
GRANT OF A TOTAL OF 250,000 INCENTIVE STOCK OPTIONS
The Company has granted 100,000 incentive stock options exercisable for a period of five (5) years at an exercise price of $0.50 per share. The Company has granted a further 150,000 incentive stock options for a period of two (2) years at an exercise price of $0.50 per share to Oak Hill Financial as described below.
ENGAGEMENT OF OAK HILL FINANCIAL FOR INVESTOR RELATIONS
The Company has entered into an agreement (the "Agreement") with Oak Hill Financial Inc. ("Oak Hill Financial") to provide business and capital markets advisory services including investor relations. Oak Hill Financial's investor relations services will focus on providing turn-key solutions for investor relations, marketing in the investment community, targeting advisor channels of distribution and identifying existing and new investors in Canada.
The Agreement has a three-month term (automatically renewable on a monthly basis unless terminated by either party) commencing effective March 20, 2023. The Agreement can be terminated by either party at any time on five (5) days' notice. Under the terms of the Agreement, Oak Hill is to receive a fee of $12,000 per month.
The Company has granted 150,000 incentive stock options exercisable for a period of two (2) years at an exercise price of $0.50 per share (the "Oak Hill Options"). The Oak Hill Options are subject to applicable resale and vesting provisions of the TSX Venture Exchange.
Oak Hill owns no securities of the Company other than the Oak Hill Options which it holds for investment purposes and has no intention to sell at this time.
The Agreement is subject to its approval by the TSX Venture Exchange.
About Oak Hill Financial
Oak Hill Financial is a leading Canadian marketing and distribution firm, focused on IIROC retail brokerage networks, servicing both asset managers and public companies. Oak Hill Financial's experienced team of former asset management wholesalers, research analysts and capital market professionals specialize in providing advice to listed Canadian companies and in building credibility for their clients to a network of over 10,000 Canadian IIROC retail brokers and over 300 North American funds. Oak Hill Financial a private company headquartered in Toronto, Ontario.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at info@millennialpotashcorp.com.
"Farhad Abasov"
Chair of the Board of Directors
Neither 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", "intend", "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 including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for gold/silver and potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of COVID-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. 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, environmental 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 affecting such statements and information other than as required by applicable laws, rules and regulations.
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