New Millennium Capital Corp.

New Millennium Capital Corp.

September 02, 2005 17:00 ET

New Millennium Capital Corp. Announces Credit Facility and Issuance of Warrants

CALGARY, ALBERTA--(CCNMatthews - Sept. 2, 2005) - New Millennium Capital Corp. (TSX VENTURE:NML) ("NML") is pleased to announce that it has entered into a loan agreement with Middlemarch Partners Limited ("Middlemarch") for a $2,000,000 credit facility (the "Credit Facility"). The Credit Facility may be drawn down at the option of NML in $1,000,000 installments. The first installment was drawn down on September 1, 2005 and the second installment may be drawn down after September 15, 2005. The Credit Facility does not bear interest and is repayable in full on or before March 15, 2006. As consideration for advancing the Credit Facility, NML has issued to Middlemarch 1,000,000 common share purchase warrants (the "Warrants"). Each Warrant is exercisable into one common share of NML at an exercise price of $0.75 per share until August 15, 2007. Middlemarch does not own any securities of NML and is at arm's length to NML.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of adequacy of this release.

Contact Information

  • New Millennium Capital Corp.
    Robert Martin
    President and Chief Executive Officer
    (514) 935-3204
    New Millennium Capital Corp.
    Dean Journeaux
    Project Director
    (514) 935-3204