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TORONTO, July 10, 2017 /CNW/ - MillenMin Ventures Inc.
(TSX-V:MVM) ("MillenMin") is pleased to announce that it has
completed its private placement offering (the "Control
Placement") for common shares and subscription receipts with
Bellomonte Investments Company Limited ("BICL"), a
Cayman Islands company, and with
three other investors (the "Other Investors"). This
Control Placement was previously announced on January 27, 2017 and on July 7, 2017 and for additional information
regarding the Control Placement and matters referenced in this news
release, please see MillenMin's filing statement dated April 12, 2017 and updated by its news release
dated July 7, 2017, which are
available on SEDAR at www.sedar.com.
With the completion of the private placement of the common
shares, BICL and the Other Investors together hold approximately
61.8% of MillenMin. BICL holds approximately 49.2% of
MillenMin and is a "Control Person" and the Other Investors hold
2.8%, 3.9% and 5.9% of MillenMin as described in MillenMin's news
releases dated January 27, 2017 and
July 7, 2017 and MillenMin's filing
statement dated April 12, 2017.
With the completion of the Control Placement, the board of
directors of MillenMin now comprises of five members consisting of
pre-existing directors, Mr. Peiwei
Ni, Mr. John Paterson and Mr.
Shunyi Yao, and new directors, Mr.
Xu Qian and Mr. Kin Wai Siu. As well, Mr. Kin Wai Siu has been appointed as Chief Executive
Officer and Mr. Lee Cham Wan as
Chief Financial Officer and Corporate Secretary.
Trading of the MillenMin shares remains halted on the TSX
Venture Exchange and it is expected that the trading halt will
continue until submissions to the TSX Venture Exchange for the
Vend-in Transaction have been completed to the satisfaction of the
TSX Venture Exchange or until it determines otherwise in its
discretion.
Additional Information
Additional information about MillenMin is available to the
public on SEDAR at www.sedar.com.
Completion of the Vend-in Transaction is subject to a number
of conditions, including but not limited to, contractual
conditions, Exchange acceptance and applicable disinterested
shareholder approvals. The Vend-in Transaction cannot close
until the required shareholder approvals and applicable regulatory
approvals are obtained and contractual conditions are met or
waived. There can be no assurance that the Vend-in
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared
in connection with the transaction, any information released or
received with respect to the transaction may not be accurate or
complete and should not be relied upon. Trading in the
securities of MillenMin Ventures Inc. should be considered highly
speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this news release.
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 news release contains forward-looking statements and
information that are based on the beliefs of management and reflect
MillenMin's current expectations. When used in this news
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. The forward-looking statements and information
in this news release includes information relating to completion of
the Vend-in Transaction and the Transaction. The
forward-looking information is based on certain assumptions, which
could change materially in the future. Such statements and
information reflect the current view of MillenMin with respect to
risks and uncertainties that may cause actual results to differ
materially from those contemplated in those forward-looking
statements and information. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause MillenMin's actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors
include, among others, the risk that MillenMin is unable to
complete the Vend-in Transaction and the Transaction, as expected
or at all, the risk that the necessary directors, shareholders and
regulatory approvals are not obtained or the Transaction may be
terminated prior to completion, the risks associated with property
development and doing business in Cuba. When relying on
MillenMin's forward-looking statements and information to make
decisions, investors and others should carefully consider the
foregoing factors and other uncertainties and potential
events. MillenMin has assumed a certain progression, which
may not be realized. It has also assumed that the material
factors referred to above will not cause such forward-looking
statements and information to differ materially from actual results
or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF MILLENMIN AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE MILLENMIN MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
SOURCE MillenMin Ventures Inc.