Online:
Visits:
Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Enertopia closes $170,000 final tranche of financing

Tuesday, February 28, 2017 12:34
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Enertopia Corp (CNSX:TOP) shares firmed on Tuesday after the company said it closed the final tranche of $170,000 for its private placement announced last December.

Proceeds of the private placement will be used for continued lithium brine division development, general working capital and other opportunities.

Last month, the company announced it had begun its lithium recovery bench testing and the company is now awaiting the results.

Read:  Enertopia begins lithium recovery bench test

Enertopia will issue 4.25mln common shares at four cents and 4.25mln whole warrants that expire on Feb. 28, 2019, with an exercise price of six US cents during the 24-month period.

Cash finders’ fees of $11,100 and 227,500 full broker warrants were paid to third parties. All full broker warrants expire on Feb. 28, 2019, with the same exercise terms as noted above.

The company also announced that Adam Mogil has been retained as a consultant to help the company as it moves forward. In lieu of a monthly compensation, Mogil has been issued one million warrants at an exercise price of nine US cents for six months. The warrants will expire on Aug. 28, 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 Robert McAllister, president and chief executive officer of Enertopia.

Enertopia shares were up 0.7% at $0.07 on Tuesday.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/173948/enertopia-closes-170000-final-tranche-of-financing-173948.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.