Enertopia Announces Close of Financing
BUZ INVESTORS PRESS RELEASE Close of Financing Enertopia Corporation (OTCQB: ENRT and CSE: TOP) (the “Company” or “Enertopia”) is pleased to announce it has closed the final tranche of CAD$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 finders 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.
Close of Financing
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.
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.
Enertopias 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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