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Enertopia closes first tranche of its private placement, raising C$104,814

The firm will 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.

Canadian dollars
One director put his hand in his pocket to purchase C$12k worth of shares

Enertopia Corp (CNSX:TOP, OTCMKTS:ENRT) has closed the first tranche of its private placement, raising C$104,814.

Enertopia will be issuing 1.75mln shares at six cents per share and 1,746,900 whole warrants that expire on May 11, 2020, with an exercise price of 7.5 US cents during the 24-month period.

READ Enertopia Corp arranges C$360,000 placing​​

The company also reported one director purchased 200,000 units of the above private placement and exercised 200,000 options for proceeds of US$12,000 to Enertopia.

Quick facts: Enertopia Corp

Price: 0.01 CAD

CSE:TOP
Market: CSE
Market Cap: $1.28 m
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Enertopia expects lithium brine results by end of June

Enertopia Corp (CSE:TOP, OTCQB:ENRT) CEO Robert McAllister provided investors with the latest update on its lithium brine testing and work at the Clayton Valley project in Nevada. McAllister says the lithium sector is the fastest-growing resource sector of size, and he says demand will be...

on 16/6/18

2 min read