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Enertopia Corp arranges C$360,000 placing

The firm said it intended to use the cash for the continued development of the lithium brine recovery technology...
Enertopia Corp arranges C$360,000 placing
A key focus for the group is the Clayton Valley lithium project (not pictured)

Enertopia Corp (CNSX:TOP) announced it has arranged a private placing to raise up to C$360,000.

The firm said it intended to use the cash for the continued development of the lithium brine recovery technology, optimization plans for the permitting and development of the company's Clayton Valley lithium project, and for general corporate and working capital purposes.

It will issue 6mln equity units priced at six cents a throw.

Each equity unit consists of one share and one non-transferable share purchase warrant, the latter entitling the holder to buy one further share for 24 months at 7.5 US cents.

In March, the group said it was set for more lithium recovery tests as it revealed partner Genesis Water Technologies Inc (GWT)  will complete the bench scale build.

Pre-testing with synthetic Li (lithium) brine solutions will begin the following week and testing will continue until the end of May.

Final third-party lab results are currently expected by the end of May.

The synthetic Li brine samples will be made from Li enriched surface samples from Enertopia's Clayton Valley project.

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