Proceeds to be used for advanced testing of lithium-ion battery anodes
By Susanna Moon
Chicago, Feb. 16 – Energizer Resources Inc. closed a C$450,653 private placement of units consisting of one share and one warrant, according to an 8-K filing with the Securities and Exchange Commission. Each warrant is exercisable at US$0.11 per share until Feb. 4, 2018.
The company sold 6,437,900 units at a price of C$0.07 each.
Proceeds will be used for advanced testing of lithium-ion battery anodes using Molo graphite concentrate and for general working capital purposes.
Energizer is a Toronto-based mineral exploration and mine development company.
Issuer: | Energizer Resources Inc.
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Issue: | Units of one share and one warrant
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Amount: | C$450,653
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Units: | 6,437,900
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Price: | C$0.07
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Warrants: | One per unit
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Warrant expiration: | Feb. 4, 2018
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Warrant strike price: | US$0.11
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Settlement date: | Feb. 4
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Stock symbol: | Toronto: EGZ
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Stock price: | C$0.09 at close Feb. 12
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Market capitalization: | C$31.55 million
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