Enertopia Corporation (ENRT) on the OTCQB and (TOP) on the CSE is pleased to announce it has closed the final tranche of CAD$170,000 for its Private Placement announced on December 5, 2016. Enertopia will be issuing 4,250,000 common shares at CAD$0.04 and 4,250,000 whole warrants that expire on February 28, 2019 with an exercise price of USD $0.06 during the 24 month period.
Funds raised will be used for advancing the company’s lithium business and G&A.
A cash finder’s fee for CAD $11,100.00 and 227,500 full broker warrants was paid to third parties. All full broker warrants expire on February 28, 2019 with the same exercise terms as noted above.
The Company also announces Adam Mogil has been retained as a consultant to help the company as it moves forward, In lieu of a monthly compensation Mr. Mogil has been issued 1,000,000 warrants at an exercise price of USD$0.09 for six months and will expire on August 28, 2016 if not exercised on or before the aforementioned date.
“While we wait for the bench test results, we are working aggressively at mapping out the next steps for project advancements and potential property acquisitions.” Stated President and CEO Robert McAllister
All issued shares will be subject to a hold period, for any resale into the United States under Rule 144, of six months and one day. 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.
Enertopia’s shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1.250.765.6412
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