8-K - SUIG - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 8, 2020

MillCity Ventures III, Ltd.

(Exact name of registrant as specified in its charter)

Minnesota	811-22778	90-0316651
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

1907 Wayzata Boulevard, Suite 205

Wayzata, MN 55391

(Address of principal executive offices)

(952) 479-1923

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 8.01	Other Events.

On May 8, 2020, Mill City Ventures III, Ltd. issued a press release. A copy of that press release is filed as exhibit 99.1 to this report.

Item 9.01	Financial Statements and Exhibits.

(d) Exhibits.

No.	Description
99.1	Press release dated May 8, 2020 (filed herewith)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Mill City Ventures III, Ltd.
Date: May 11, 2020
	By:	/s/ Douglas M. Polinsky
		Douglas M. Polinsky
		Chief Executive Officer

Exhibit Index

No.	Description
99.1	Press release dated May 8, 2020

Exhibit99.1

Mill City Ventures III, Ltd. Formalizes New Business Plan

Minneapolis, Minn., May 7, 2020 – Mill City Ventures III, Ltd. (OTCPK: MCVT) (“Mill City” or the “Company”), announced today that the company’s Board of Directors has authorized a formal change to the company’s business operations to include short-term non-bank lending and specialty finance.

Douglas M. Polinsky, Chief Executive Officer and Chairman of the Board, commented “The opportunities Mill City has enjoyed just months since withdrawing our BDC election have been plentiful. We liquidated most of our portfolio in the fourth quarter and were well positioned with cash available to loan to businesses in an environment where demand is high, and our returns are very attractive.”

The company has recently made approximately $4.2M in loans to a variety of borrowers, including a real estate investment company, a professional medical practice, and a money service business among others. The loans represent both secured and unsecured loans and are priced according to perceived risk-return proposition. The loans are generally structured with short terms to maturity (generally 9 months, and no longer than 12 months). The company is presently exploring additional opportunities in cash inventory funding, title loans, settled insurance claims, and real estate loan participation.

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, 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 is available at www.millcityventures3.com.

Contact:

Joseph A. Geraci, CFO

952-479-1920