Mill City Ventures Closes on $3.9 million Funding The Single Largest Transaction In Corporate History

MINNEAPOLIS, Feb. 28, 2022 /PRNewswire/ -- Mill City Ventures III, Ltd. (OTCQB: MCVT), a non-bank lender and specialty finance company, announced today its funding of a pre-closing to the sale of a 350-unit apartment complex. Mill City Ventures advanced $3.9 million in the form of a short-term note with an anticipated annualized return of approximately 20%. This investment represents the largest single investment in company history.

Mill City Ventures' Chief Executive Officer, Douglas M. Polinsky. stated, "With the recent closing of our credit facility, we are now in a position to expand the size of our funding opportunities." Polinsky continued, "We have seen an increase in deal flow and continue to pursue investment opportunities in adjudicated insurance settlements, asset-based loans, real-estate-backed loans, and equity investment opportunities."

We continue to work diligently with NASDAQ to meet applicable listing requirements.

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.