Waterton Files Early Warning Report in respect of Millennial Precious Metals Corp.

TORONTO, Nov. 12, 2021 /CNW/ - Waterton Precious Metals Fund II Cayman, LP ("Waterton Precious Metals") announced today that it disposed of 6,735,500 common shares (the "Common Shares") of Millennial Precious Metals Corp. ("Millennial") on November 11, 2021 through the facilities of the TSX Venture Exchange. These Common Shares represent approximately 4.90% of the outstanding Common Shares. The consideration received by Waterton Precious Metals for such Common Shares was Cdn.$2,966,315.85, being an average price of approximately Cdn.$0.4404 per Common Share.

Immediately prior to giving effect to the disposition described above, Waterton Precious Metals owned and exercised control or direction over 20,206,500 Common Shares, representing approximately 14.71% of the issued and outstanding Common Shares. Immediately after giving effect to the disposition described above, Waterton Precious Metals now owns and exercises control or direction over 13,471,000 Common Shares, representing approximately 9.81% of the issued and outstanding Common Shares.

Waterton Precious Metals has no current plan or future intentions which relate to, or would result in, acquiring additional securities of Millennial or disposing of securities of Millennial. Depending on market conditions, Waterton Precious Metals' view of Millennial's prospects, other investment opportunities and other factors considered relevant by Waterton Precious Metals, Waterton Precious Metals may acquire additional securities of Millennial from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Millennial.

An early warning report will be filed by Waterton in accordance with applicable securities laws. For further information or to obtain a copy of the early warning report, please see Millennial's profile on SEDAR at www.sedar.com or contact Richard Wells, Chief Financial Officer of Waterton Global Resource Management, Inc., at 416-504-3505.

The head office address of Waterton Precious Metals is 309, Ugland House, Grand Cayman, Cayman Islands, KY1-1104 and the head office address of Waterton Global Resource Management, Inc. is Commerce Court West, 199 Bay Street, Suite 5050, Toronto, ON, M5L 1E2. 

The head office address of Millennial is 400-350 Bay Street Toronto, ON, M5H 2S6.

SOURCE Waterton Precious Metals Fund II Cayman, LP

Richard Wells, Chief Financial Officer of Waterton Global Resource Management, Inc., 416-504-3505