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.
(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.
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.
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