Enertopia Closes Second Tranche of Financing
December 08 2017 - 6:00AM
InvestorsHub NewsWire
Enertopia Closes Second
Tranche of Financing
Kelowna, BC --
December 08, 2017 -- InvestorsHub NewsWire -- Enertopia Corporation
(ENRT)
on the OTCQB and (TOP)
on the CSE (the
"Company" or "Enertopia") is pleased to announce it has closed the
second tranche of CAD $197,700 for its Private Placement announced
on October 26, 2017. Enertopia will be issuing 3,954,000
common shares at CAD$0.05 and 3,954,000 whole warrants that expire
on December 8, 2019, with an exercise price of USD $0.06 during the
24 month period.
The Company also reports one Director
purchased 400,000 units of the above second tranche at a cost of
CAD$20,000 and also exercised 240,000 options for proceeds of USD
$12,000 to the Company.
A cash finder’s fee for CAD $12,770
and 230,400 full broker warrants was paid to third parties. All
full broker warrants expire on December 8, 2019, with the same
exercise terms as noted above.
“We are working aggressively at
mapping out the next steps for advancements in our lithium
technology business and will provide a full update shortly.” 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 Technology
division development, project development, and general working
capital. 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
A Company focused on using
modern technology to build shareholder value. Working closely
with Genesis Water Technologies (GWT) on an exclusive process
(Enerlet) to recover and produce battery-grade lithium from
material sourced from the company’s Clayton Valley Lithium
project.
Enertopia 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
This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements which are not historical facts are
forward-looking statements. The Company makes forward-looking
public statements concerning its expected future financial
position, results of operations, cash flows, financing plans,
business strategy, products and services, potential and financing
of its, mining projects, Lithium brine recovery technology,
competitive positions, growth opportunities, plans and objectives
of management for future operations, including statements that
include words such as "anticipate," "if," "believe," "plan,"
"estimate," "expect," "intend," "may," "could," "should," "will,"
and other similar expressions that are forward-looking
statements. Such forward-looking statements are estimates
reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no assurance that other factors will not affect the
accuracy of such forward-looking statements., foreign exchange and
other financial markets; changes of the interest rates on
borrowings; hedging activities; changes in commodity prices;
changes in the investments and expenditure levels; litigation;
legislation; environmental, judicial, regulatory, political and
competitive developments in areas in which Enertopia
Corporation operates. There can be no assurance
that the funds raised will have any positive impact on Enertopia.
There is no assurance that the current bench test will be
successful and other projects will be acquired. The User should
refer to the risk disclosures set out in the periodic reports and
other disclosure documents filed by Enertopia Corporation from time
to time with regulatory authorities.
The CSE has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release
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