On a relatively quiet day for company news, Kelowna, B.C.-based Enertopia Corporation (OTC:ENRT) announced Wednesday it had closed the first tranche of $143,175.99 Canadian from a Private Placement. Enertopia will be issuing 5,506,769 common shares at $0.026 Canadian and 5,506,769 whole warrants that expire on March 27, 2023, with an exercise price of $0.04 U.S. over the next four years.
A news release issued Wednesday morning revealed that a cash finder's fees for $13,067.60 Canadian and 502,600 full broker warrants were paid to third parties. All full broker warrants expire on March 27, 2023.
Enertopia is working to establish a lithium resource and at the same time working on extracting Lithium from its synthetic brine solutions by using industry leading proven technology.
What’s more, Enertopia is well into its systematic and complete solution testing of the drilled lithium enriched horizons. This will enable the Company to map out the subsurface horizons as per oxide and reduced horizons and further differentiate the grade of Lithium in the synthetic solution that can be potentially recovered in a low CAPEX mining and processing scenario.
"We look forward to providing detailed updates as testing results are received over the coming weeks and months," stated President and CEO Robert McAllister.
Shares in ENRT proved the winningest of a losing lot Wednesday, picking up 2.2% to 2.35 cents, on volume of 191,000.
