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Bullboard - Stock Discussion Forum ENERGIZER RESOURCES INC T.EGZ

"Energizer Resources Inc is an exploration stage company. It is engaged in the advancement of the Molo Graphite Project, consisting of a commercially minable graphite deposit situated in the African country of Madagascar."

TSX:EGZ - Post Discussion

ENERGIZER RESOURCES INC > news out unhalted 13:00
View:
Post by SMARKOVIC on Aug 18, 2016 12:43pm

news out unhalted 13:00

 

Energizer receives $6M investment from Dundee funds

 

2016-08-18 12:37 ET - News Release

 

Mr. Brent Nykoliation reports

DUNDEE'S CMP FUNDS MAKE SIGNIFICANT CAPITAL INVESTMENT INTO ENERGIZER RESOURCES

Energizer Resources Inc. has closed a non-brokered private placement offering of 96,064,286 common shares at a price of seven cents per share for aggregate gross proceeds of $6,724,500.

Investment funds managed by Goodman & Company Investment Counsel Inc., an affiliate of Dundee Corp., purchased CAD$6,000,000 of Shares under the Offering and puts their holdings of Energizer now at just under 20 percent. Sprott Asset Management and significant incumbent shareholders of the Company represented the remaining investors.

The net proceeds of the Offering will be used to fund the completion of a Front End Engineering Design Study (FEED Study) for the Company's Molo graphite project in Madagascar and for general working capital purposes.

The FEED Study is being undertaken in order to determine potential development path options that have been presented to Energizer by prospective strategic partners. The Company may use certain proceeds of this offering to fund the development path that the Company determines to be most optimal.

All Shares issued in connection with the Offering will be subject to a minimum six-month hold period as required by U.S. securities laws, and will also be subject to a four-month hold period (which will run concurrently with the six-month hold period) as required by Canadian securities laws.

The Company has obtained conditional approval from the Toronto Stock Exchange (the "TSX") for the listing of all common shares issued pursuant to the Offering. The Offering is subject to receipt of final approval of the TSX.

About Energizer Resources

Energizer Resources is a mineral exploration and mine development company based in Toronto, Canada, that is developing its 100%-owned, feasibility-stage Molo Graphite Project in southern Madagascar.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

Comment by StoogeNo4 on Aug 18, 2016 1:14pm
FINALLY!  O.K., this is HUGE.  For Sprott to get involved, they must be very close to an offtake agreement.  The last I spoke over the phone with somebody at Sprott, they said they wouldn't even look at investing into a company in this space unless a bonafide offtake agreement was in place.  Obviously, ENZR hasn't indicated such an agreement; and perhaps Sprott has ...more  
Comment by StoogeNo4 on Aug 18, 2016 2:34pm
If Im'm not mistaken, Sprott and their pals over at Casey Research were behind Mason Graphite. In fact, Inernational Speculator recommended Mason at some point long ago...and it's mostly a gold publication, so no conflict of interest there.  It would appear to me that the tide is finally starting to turn for ENZR. While former CEO's McKinnon and Schler were busy raping ...more