PR Newswire | Jan 19, 2021 11:22AM EST

01/19 10:21 CST

Mill City completes insurance settlement funding MINNEAPOLIS, Jan. 19, 2021

MINNEAPOLIS, Jan. 19, 2021 /PRNewswire/ -- Mill City Ventures III, Ltd. ("Mill City") (OTCQB: MCVT) announced today its participation in a purchase of a settled insurance claim. Mill City's portion of participation was $720,000.

Mill City Chief Executive Officer Douglas M. Polinsky said, "We continue to realize attractive opportunities in the specialty finance sector. The partial purchase of this settlement allows Mill City to realize an outsized return on a risk mitigated investment. We continue to exercise creativity for the long term benefit of our shareholders."

Forward-Looking StatementsForward-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, 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 specialty finance company providing short-term non-bank lending. Additional information can be found at www.sec.gov.

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SOURCE Mill City Ventures III, Ltd.