Enertopia closes $104K (U.S.) 1st tranche of placement

Executive Summary

• Enertopia Corp. has closed the first tranche of its private placement, raising $104,000 USD.
• The company issued 1.04 million common shares at a price of $0.10 USD per share.
• Proceeds are designated for patent advancement and general working capital.

Key Details

• Transaction Structure: Closed first tranche of private placement.
• Gross Proceeds: $104,000 USD.
• Share Issuance: 1.04 million common shares.
• Price Per Share: $0.10 USD.
• Director Participation: One director purchased 150,000 shares for $15,000 USD.
• Finder's Fees: $1,120 USD paid to third parties.
• Use of Proceeds: Continued patent and patent-pending technology advancement and general working capital.
• Regulatory Conditions: Subject to customary regulatory approvals, including Canadian Securities Exchange approval.
• Hold Period: Common shares subject to a four-month hold period under Canadian securities laws.

Notable Quotes

• "We are working aggressively at mapping out the next steps for advancements in patented clean energy technologies and our patent pending oxyhydrogen technology," stated president and chief executive officer Robert McAllister.