Vancouver, British Columbia–(Newsfile Corp. – February 6, 2023) – Millennial Potash Corp. (TSXV: MPL) (“MPL” “Millennial” or the “Company”) is pleased to announce that it has appointed Mr. Farhad Abasov as its Chairman of the Board to expedite the Company’s efforts at its newly acquired Banio Potash Project in Gabon.
Graham Harris, Director, commented, “Mr. Abasov joined the Company as Director in 2020 and we are very pleased that he has accepted the position of Chairman of MLP. Mr. Abasov has over 20 years of successful resource company management and project development arranging in excess of $500M in project funding in the mining and energy sectors. Farhad is coming off another successful exit as the President and CEO of Millennial Lithium Corp, which was acquired by Lithium Americas in early 2022 for $490M. Mr. Abasov brings a wealth of potash experience to the Company as the former President and CEO of Allana Potash Corp. and as a co-founder of Potash One. This potash and corporate experience will be crucial in guiding the Company’s efforts at its newly acquired Banio Potash Project and we look forward to an accelerated successful program in 2023.”
Mr. Abasov has extensive experience in the mining and project development sectors. His latest success was as the President and CEO of Millennial Lithium Corp. guiding the Pastos Grandes project through feasibility, pilot pond, pilot plant testwork and a successful acquisition by Lithium Americas after competing offers from Ganfeng and CATL. Mr. Abasov brings a wealth of potash experience to the Company having led Allana Potash Corp. from an exploration project through feasibility to acquisition by Israel Chemicals Ltd. in 2015. Prior to Allana Farhad was a co-founder of Potash One in Saskatchewan which was acquired by K+S for $470M. In addition, Mr. Abasov has extensive experience in the nuclear energy sector gained through his tenure as Senior VP at Energy Metals (acquired by Uranium One for $1.8B) and at Atomic Energy of Canada.
Millennial continues its preliminary preparations for the ramp up the Banio Potash Project with an initial team mobilizing to the project site in the coming weeks.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at [email protected].
MILLENNIAL POTASH CORP.
Director, SVP Capital Markets
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “intend”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ 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 affections such statements and information other than as required by applicable laws, rules and regulations.
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