Enertopia Ord Shs C.ENRT

March 27th News/Update

[lancemanion1974]

https://www.globenewswire.com/news-release/2019/03/27/1773894/0/en/Enertopia-Provides-Corporate-Update.html

March 27, 2019 08:00 ET  | Source: Enertopia Corp

 

 

KELOWNA, British Columbia, March 27, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Enertopia Corporation (OTCQB: ENRT) (CSE: TOP) (the "Company" or "Enertopia") is pleased to announce it has closed the first tranche of CAD $143,175.99 from a Private Placement. Enertopia will be issuing 5,506,769 common shares at CAD$0.026 and 5,506,769 whole warrants that expire on March 27, 2023, with an exercise price of USD $0.04 during the four-year period. 

A cash finder's fees for CAD $13,067.60 and 502,600 full broker warrants were paid to third parties. All full broker warrants expire on March 27, 2023, with the same exercise terms as noted above.

Testing Update:

The Company 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

All issued shares will be subject to a hold period, for any resale into the United States under Rule 144, of six months and one day. Proceeds of the Private Placement will be used for continued Lithium Brine division development, project development, and general working capital. The Private Placement will be subject to normal regulatory approvals.  

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Enertopia:

A Company focused on using modern technology to build shareholder value.  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.

Enertopia shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1.250.870.2219