Company sells units of one share and one warrant at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., July 30 - Enertopia Corp. raised C$30,000 in the first tranche of a private placement of units on July 27, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 600,000 units of one common share and one warrant at C$0.05 per unit.
Each three-year warrant is exercisable at $0.10 in the first year and at $0.20 in the second and third years. The strike prices are 100% and 300% premiums to the July 26 closing share price of $0.05.
Proceeds will be used for general working capital, to make mineral property payments under existing agreements, for exploration of mineral properties and for administrative purposes.
The Vancouver, B.C., company develops clean energy and clean water technologies and has mining projects in New Mexico and Arizona.
| Issuer: | Enertopia Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$30,000
|
| Units: | 600,000
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.10 in the first year, $0.20 in the second and third years
|
| Settlement date: | July 27
|
| Stock symbol: | OTCBB: ENRT
|
| Stock price: | $0.05 at close July 26
|
| Market capitalization: | $1.36 million
|
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