Energizer Resources Inc. (TSX:EGZ) (OTCQB:ENZR) (WKN: A1CXW3) (“Energizer” or the “Company”) announces it has closed a non-brokered private placement offering (the “Offering”) for gross proceeds of CDN$224,550. Insider participation consisted of CDN$195,150 of the Offering. The net proceeds of the Offering will be used to fund the permitting fees associated with the Company’s Molo graphite project in Madagascar.
The Company has issued 3,207,857 units (the “Units”) at a price of CDN$0.07 per Unit, with each Unit consisting of one (1) common share of the Company and one (1) common share purchase warrant (a “Warrant”), with each Warrant entitling the holder thereof to acquire one (1) additional common share of the Company at a price of US$0.11 per share until April 11, 2018.
All securities 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
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, flagship Molo Graphite Project in southern Madagascar.
For further information contact:
Brent Nykoliation, Senior Vice President, Corporate Development: +1.416.364.4911
or Craig Scherba, President and CEO: firstname.lastname@example.org