Enertopia Corp. (CSE: TOP) Announces Close of Financing
April 28, 2017
•3 min read
Enertopia Corp. (ENRT) (CSE: TOP) has closed the final tranche of $290,160 for its private placement announced on March 17, 2017. Enertopia will be issuing 3,224,000 common shares at CAD$0.09 and 3,224,000 whole warrants that expire on April 28, 2019 with an exercise price of USD $0.12 during the 24 month period.
A cash finder’s fee for CAD $20,736 and 230,400 full broker warrants was paid to third parties. All full broker warrants expire on April 28, 2019 with the same exercise terms as noted above.
“We are working aggressively at mapping out the next steps for Phase two bench testing with our Technology partner Genesis Water Technologies (GWT) as we focus to achieve battery grade Lithium carbonate product. We expect to have news out shortly on project advancements and property updates.” Stated President and CEO Robert McAllister
The Company announces it has received $11,655 from the exercise of warrants previously granted. The warrants were exercised at US$0.07 for a total of 166,500 common shares being issued. All warrants are being exercised by third parties who are neither officers nor directors of the Company. No commissions or placement fees have been paid related to the funds received from this warrant exercise. Proceeds will be used for general corporate purposes.
Proceeds of the Private Placement will be used for continued Lithium Brine division development, general working capital and other opportunities. The Private Placement will be subject to normal regulatory approvals.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Enertopia
Enertopia is exploring a portfolio of three prospective lithium projects in Nevada and reviewing other mineral projects, while concurrently working with water purification technology partner GWT using patent pending technology that is believed able to recover Lithium from brine solutions.
In the interest of full disclosure, we call the reader’s attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.
Trending Now
1
3
Read Next
Thought Leaders
Introducing the NEW Equities News: Transforming the world by investing in what matters most
Paula DeLaurentis
Mar 15, 2024
Economic
An opportunity for women in the clean-energy transition
Green Money
Mar 12, 2024
Economic
Making diversity in venture-capital funding a priority
Yinka Faleti
Mar 11, 2024
Environment
E-bike incentives are a costly way to cut carbon emissions, but they also promote health
The Conversation
Mar 7, 2024
3 dividend-paying health-care stocks that top analysts recommend
Benzinga
Mar 7, 2024
Economic
The true cost of food is far higher than what you spend at the grocery checkout
The Conversation
Mar 6, 2024
The Latest
Thought Leaders
Introducing the NEW Equities News: Transforming the world by investing in what matters most
Mar 15, 2024
Economic
An opportunity for women in the clean-energy transition
Mar 12, 2024
Economic
Making diversity in venture-capital funding a priority
Mar 11, 2024
Environment
E-bike incentives are a costly way to cut carbon emissions, but they also promote health
Mar 7, 2024