Enertopia Announces Intention to Complete a $1,000,000 Financing - WCAX.COM Local Vermont News, Weather and Sports-

Enertopia Announces Intention to Complete a $1,000,000 Financing

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Vancouver, BC–Enertopia Corporation (TOP) (the “Company” or “Enertopia”) announces its intention to complete a non-brokered private placement financing, consisting of 10,000,000 Equity Units at US $0.10 per unit, to raise gross proceeds of up to US $1,000,000 (the “Private Placement”).

Each equity unit will consist of one common share of the Company and one half (1/2) non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of two years from the date of issuance, at a purchase price of US$0.15. Funds raised from the equity units will be used for corporate development in the Medical Marijuana business and G&A.

The Company will pay broker commissions of up to 8.0% in cash and 8.0% in broker warrants in connection with the Private Placement. Certain directors, officers and insiders of the Company may participate in the Private Placement.

The securities issued will be subject to a hold period in Canada of four months and one day, or for any resales into the USA under Rule 144, six months and one day. Proceeds of the Private Placement will be used for general working capital and project development. 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

Enertopia’s shares are quoted in the USA with symbol ENRT and in Canada with symbol TOP. For additional information, please visit www.enertopia.com or call Dale Paruk, Coal Harbor Communications at 1.604.662.4505

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, evaluation of clean energy projects for participation and/or financing, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, access to capital, and other factors which may be identified from time to time in the Company’s public announcements and filings. There can be no guarantee that the proposed financing will close and the signing of the Definitive Agreement will result in new projects or partnerships being concluded in the medical marijuana sector and that adequate capital will be sourced to conclude the proposed transaction, now and into the future and any of the proposed projects provides will have any material effect on the Company.

Not for distribution to United States news wire services or for dissemination in the United States

Source: http://www.accesswire.com/viewarticle.aspx?id=410890

ReleaseID: 30608

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