Proceeds to be used for advanced testing of lithium-ion battery anodes
By Susanna Moon
Chicago, Feb. 16 – Energizer Resources Inc. closed a C$450,653 private placement of units consisting of one share and one warrant, according to an 8-K filing with the Securities and Exchange Commission. Each warrant is exercisable at US$0.11 per share until Feb. 4, 2018.
The company sold 6,437,900 units at a price of C$0.07 each.
Proceeds will be used for advanced testing of lithium-ion battery anodes using Molo graphite concentrate and for general working capital purposes.
Energizer is a Toronto-based mineral exploration and mine development company.
| Issuer: | Energizer Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$450,653
|
| Units: | 6,437,900
|
| Price: | C$0.07
|
| Warrants: | One per unit
|
| Warrant expiration: | Feb. 4, 2018
|
| Warrant strike price: | US$0.11
|
| Settlement date: | Feb. 4
|
| Stock symbol: | Toronto: EGZ
|
| Stock price: | C$0.09 at close Feb. 12
|
| Market capitalization: | C$31.55 million
|
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