Mill City Ventures Files S-1 Registration Statement

MINNEAPOLIS, Feb. 16, 2022 /PRNewswire/ -- Mill City Ventures III, Ltd. (OTCQB: MCVT), a non-bank lender and specialty finance company announced the filing of an S-1 registration statement contemplating an issuance of 2,697,603 five-year common stock purchase warrants, each with an exercise price of $4.00 per share of common stock, as a dividend to holders of common stock.  Mill City Ventures intends to apply to have the warrants listed for trading on the OTC Markets.

The offering is subject to the effectiveness of the S-1 registration statement.  Accordingly, no record date has been established for the contemplated dividend.  The warrants will not be issued until the registration statement is declared effective, and the warrants will not be exercisable unless such registration statement remains effective.  If the offering is consummated, Mill City Ventures expects to use net proceeds from the offering for general corporate purposes, including but not limited to extending specialty finance solutions and credit to borrowers and repaying credit facility borrowings.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Mill City Ventures. Offers and sales may only be made by means of a final prospectus, which will be available only if the registration statement is declared effective and the offering is commenced.  Nevertheless, a copy of the preliminary prospectus may be obtained by making a request to Mr. Joseph A. Geraci, II, at [email protected] or via telephone at (952) 479-1920. A preliminary prospectus may also be obtained at the SEC's website at www.sec.gov. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking statements in this release are made pursuant to the "safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including without limitation continued demand for short-term specialty non-bank loans, the company's ability to continue growing its investment portfolio while receiving attractive returns, increased levels of competition, new products or offerings introduced by competitors, changes in the market rates of loans, and other risks.

About Mill City Ventures III, Ltd.
Founded in 2007, Mill City Ventures III, Ltd., is a short-term non-bank lending and specialty finance company. More information about the company can be obtained at www.sec.gov.

SOURCE Mill City Ventures III, Ltd.