Mr. Farhad Abasov reports

MILLENNIAL LITHIUM ANNOUNCES CLOSING OF SHORT FORM PROSPECTUS OFFERING RESULTING IN GROSS PROCEEDS OF $11.5 MILLION

Millennial Lithium Corp. has closed its previously announced short form prospectus offering, including the full exercise of the overallotment option, raising gross proceeds of $11.5-million for the company through the issuance of 9.2 million units of the company at a price of $1.25 per unit.

Each unit consists of one common share of the company and one-half of one transferable common share purchase warrant. Each whole warrant is exercisable into one share until Sept. 26, 2019, at an exercise price of $1.50. The units were sold pursuant to an agency agreement dated Sept. 14, 2017, between the company and the agent.

Canaccord Genuity Corp. acted as agent and sole bookrunner in connection with the offering. In consideration for the services performed by the agent under the agency agreement, the company paid the agent a cash commission of $606,155 which represents 7 per cent of the gross proceeds raised under the offering, other than proceeds received from purchasers on a president's list comprising investors introduced by the company to the agent for which a reduced commission applied. The company also issued to the agent common share purchase warrants entitling the agent to acquire 484,924 shares at an exercise price of $1.25 per share for a period of 24 months from the closing of the offering. In addition, the company paid the agent a corporate finance fee of 50,000 shares issued at a deemed price equal to $1.25 per share.

The net proceeds of the offering are expected to be used to finance continuing development and exploration activities and for general corporate purposes.

We seek Safe Harbor.