Enertopia Closes Second Tranche of Financing
December 08 2017 - 6:00AM
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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