Deal sells units of one share, one two-year warrant at C$0.06 per unit
By Devika Patel
Knoxville, Tenn., Jan. 30 – Enertopia Corp. raised $99,900 in the first tranche of a private placement of units on Jan. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 1,665,000 units of one common share and one warrant at $0.06 per unit in the first tranche.
Each warrant is exercisable at $0.10 for two years. The strike price is a 42.86% premium to the Jan. 29 closing share price of $0.07.
Proceeds will be used for general working capital and corporate opportunities in the medical marijuana and health and wellness industries.
A $7,358 cash finders’ fee and 122,640 broker warrants were issued to Canaccord Genuity.
The Vancouver, B.C., company is in the medicinal marijuana business.
Issuer: | Enertopia Corp.
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Issue: | Units of one common share and one warrant
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Amount: | $99,900
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Units: | 1,665,000
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Price: | $0.06
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike prices: | $0.10
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Settlement date: | Jan. 30
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Stock symbol: | OTCBB: ENRT
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Stock price: | $0.07 at close Jan. 29
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Market capitalization: | $5.07 million
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