The Vancouver-based explorer also settled over $337,000 in outstanding debt through share issuances.

March 10, 2026

Private Placement Details

Millennium Silver Corp., which trades on the TSX Venture Exchange under the ticker MSC, announced on March 9, 2026, that it has closed an oversubscribed non-brokered private placement generating gross proceeds of approximately $2.89 million. The company simultaneously completed a shares-for-debt settlement covering more than $337,000 in obligations owed to directors, officers, and related parties.

The private placement consisted of roughly 192.6 million units priced at $0.015 each. Every unit includes one common share and one non-transferable warrant allowing the holder to purchase an additional common share. The warrants are exercisable over five years, priced at $0.05 per share for the first three years and $0.10 for the remaining two.

Approximately 132.2 million units were issued at closing for proceeds of about $1.98 million. The remaining roughly 60.4 million units, representing $905,500, are being held in trust pending the completion of background reviews by the TSX Venture Exchange related to a foreign subscriber. Those units and funds will be released once the Exchange grants final acceptance.

Aggregate finder fees of approximately $118,155 in cash and nearly 7.9 million finder warrants were paid to arm’s-length intermediaries. The finder warrants carry the same exercise terms as those included in the placement units.

Use of Proceeds

Millennium Silver plans to direct the funds toward exploration activities at its Silver Peak, Nevada project, consistent with the company’s 2019 NI 43-101 Technical Report. Additional proceeds will be applied to accounts payable and general working capital.

A company director purchased one million units in the placement, a transaction the company identified as a related party transaction under Multilateral Instrument 61-101. The company expects this purchase to qualify for exemptions from valuation and minority shareholder approval requirements.

Debt Settlement

In a separate transaction, Millennium Silver issued approximately 22.5 million common shares at a deemed price of $0.015 per share to settle $337,622 in outstanding debt. The creditors included:

• A family trust connected to the former CEO, owed $25,000 for a 2022 loan
• A current company director, owed $57,500 for loans made in 2021 and 2022
• Current and former directors and officers, owed $132,875 in aggregate
• A firm affiliated with the Chief Financial Officer, owed $122,247

All shares issued in the debt settlement are subject to a four-month hold period ending June 25, 2026.

Exchange Approval and Hold Periods

The TSX Venture Exchange has granted conditional acceptance for both the private placement and the debt settlement. All securities issued through the private placement are subject to a statutory hold period of four months and one day from the date of issuance.

Millennium Silver Corp. is primarily focused on the exploration and development of its Silver Peak property in Nevada.