MillenMin Ventures Inc. (TSXV:MVM) ('MillenMin') announces that it has entered an agreement with Bellomonte Investments Company Limited ('BICL'), the controlling shareholder of MillenMin, to extend the term of BICL's non-interest bearing CAN$125,000 loan (the 'Loan') to MillenMin.

Under the terms of the extension agreement, the Loan, which was previously due on December 31, 2019, will be due on December 31, 2020.

MillenMin obtained the Loan on January 27, 2017 from BICL and was used by MillenMin to fund the costs relating to its private placement of common shares. On completion of such private placement in July 2017, BICL became and is currently the controlling shareholder of MillenMin. The Loan is deemed a related party transaction as BICL is the controlling shareholder of MillenMin. The Loan is exempt from requiring a formal valuation and minority approval in accordance with, respectively, sections 5.5(b) and 5.7(1)(f) of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions as MillenMin is listed on the TSX Venture Exchange and the Loan involves no equity or voting component. The independent directors of MillenMin's board of directors reviewed and approved the extension of the Loan.

Contact:

Tel: +1.289.597.9188

(C) 2019 Electronic News Publishing, source ENP Newswire