Deal sells units of one share, a half-share warrant at C$0.10 per unit
By Devika Patel
Knoxville, Tenn., Jan. 31 - Enertopia Corp. raised $429,200 in the first tranche of a private placement of units on Jan. 31, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 4,292,000 units of one common share and one half-share warrant at $0.10 per unit in the first tranche.
Each whole warrant is exercisable at $0.15 for two years. The strike price is a 46.43% discount to the Jan. 30 closing share price of $0.28.
Proceeds will be used for general working capital and for the acquisition of a private company for medicinal marijuana.
The Vancouver, B.C., company develops clean energy and clean water technologies and is adding medical marijuana to its projects.
| Issuer: | Enertopia Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $429,200
|
| Units: | 4,292,000
|
| Price: | $0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | $0.15
|
| Settlement dates: | Jan. 31
|
| Stock symbol: | OTCBB: ENRT
|
| Stock price: | $0.28 at close Jan. 30
|
| Market capitalization: | $13.22 million
|
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