19 July 2019debt financing● Neutral
Enertopia's President personally loaned the company CAD$20,000 at 10% interest, a small stopgap related-party financing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 July 2019quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $67 thousand for the period ended 2019-05-31.
9 Apr 2019quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $204 thousand for the period ended 2019-02-28.
29 Mar 2019capital raising announcement▲ Good
Enertopia closed the first tranche of a CAD$143,176 private placement (5,506,769 units at CAD$0.026, its lowest unit price yet) for continued lithium brine development and working capital.
What it means for a shareholder
5.5m new shares at C$0.026 to raise about C$143,176. That's 4.3% dilution: every existing holder's slice gets 4.3% smaller. If you held C$1,000 of shares (38,462 at the issue price), your slice goes from 0.0315% to 0.0302% of the company. To keep it you'd need 1,737 more shares - about C$45 at the issue price.
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14 Jan 2019quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $95 thousand for the period ended 2018-11-30.
20 Dec 2018drilling progress report▲ Good
Enertopia reported progress on its first drilling program at Clayton Valley, with multiple holes confirming the mineralized lithium claystone layer identified by neighboring Cypress Development's drilling.
24 Sept 2018capital raising announcement▲ Good
Enertopia closed the final tranche of its August offering (CAD$66,750, with the CEO buying $6,675 of it), bringing the combined raise to roughly CAD$198,750 for lithium brine work.
5 Sept 2018capital raising announcement● Neutral
Enertopia closed the first tranche of a new CAD$132,000 private placement (4,400,000 units at CAD$0.03, the lowest tranche price yet) with its CEO buying in and exercising options for further proceeds - financing coming soon after the Genesis Water licensing deal's purity-test failure.
What it means for a shareholder
4.4m new shares at C$0.030 to raise about C$132,000. That's 3.5% dilution: every existing holder's slice gets 3.5% smaller. If you held C$1,000 of shares (33,333 at the issue price), your slice goes from 0.0278% to 0.0269% of the company. To keep it you'd need 1,225 more shares - about C$37 at the issue price.
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9 July 2018quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $180 thousand for the period ended 2018-05-31.
5 July 2018material agreement termination▼ BadMajor
Enertopia terminated its lithium-extraction licensing agreement with Genesis Water Technologies after independent third-party testing showed the technology failed to achieve battery-grade purity, taking the recovery process design back in-house.
30 May 2018capital raising announcement▲ Good
Enertopia closed the final tranche of the same offering (CAD$148,200), bringing the combined raise to roughly CAD$253,000 for continued Lithium Brine division work.
15 May 2018capital raising announcement▲ Good
Enertopia closed the first tranche of an April-announced placement (CAD$104,814, with a director buying in and exercising options for further proceeds) and granted 535,000 options to directors and consultants, alongside reporting the first of its final Li2CO3 lithium-recovery bench-test runs.
6 Apr 2018quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $200 thousand for the period ended 2018-02-28.
5 Feb 2018capital raising announcement▲ Good
Enertopia raised a small $3,500 as third-party warrant holders exercised 50,000 warrants, routine working-capital inflow.
16 Jan 2018capital raising announcement▲ Good
Enertopia closed the final tranche of the same offering (CAD$80,550, with a director buying $10,000 of it), bringing the total raise to roughly CAD$210,550.
12 Jan 2018director interest notice● Neutral
Enertopia Corp. President Robert Mcallister bought 400,000 shares on the open market.
10 Jan 2018quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $193 thousand for the period ended 2017-11-30.
11 Dec 2017director interest notice● Neutral
Enertopia Corp. President Robert Mcallister acquired 1,040,000 shares and disposed of 240,000 in a set of related equity transactions.
14 Nov 2017director interest notice● Neutral
Enertopia Corp. director Kristian Ross bought 500,000 shares on the open market at $0.05.
3 Nov 2017capital raising announcement▲ Good
Enertopia closed the first tranche of the placement announced in October (CAD$130,000: 2,600,000 shares plus warrants), proceeds earmarked for its Lithium Brine division.
What it means for a shareholder
2.6m new shares at about C$0.050 to raise about C$130,000. That's 2.5% dilution: every existing holder's slice gets 2.5% smaller. If you held C$1,000 of shares (20,000 at the issue price), your slice goes from 0.0196% to 0.0191% of the company. To keep it you'd need 508 more shares - about C$25 at the issue price.
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30 Oct 2017capital raising announcement▲ Good
Enertopia announced a bench-test update on its lithium recovery technology and separately announced its intent to complete a new non-brokered private placement - the origin announcement for the raise closed in tranches through January 2018.
30 Aug 2017asset acquisition disposition▲ GoodMajor
Enertopia staked 160 acres of lode and placer claims in Clayton Valley, Nevada and reported strong early lithium assay results (up to 4,160 ppm) from surface sampling, becoming the company's flagship lithium property.
17 Aug 2017auditor change● Neutral
Enertopia replaced MNP LLP with Davidson & Company as its auditor for fiscal 2017, a routine change with no disagreements reported.
8 Aug 2017director interest notice● Neutral
Kristian Ross became a Enertopia Corp. director and company insider (initial ownership filing).
31 July 2017director interest notice● Neutral
Baljinder Bhullar became a Enertopia Corp. company insider (initial ownership filing).
12 July 2017quarterly activities report▼ Bad
Enertopia Corp. reported a quarterly net loss of $251 thousand for the period ended 2017-05-31.
8 May 2017material agreement termination▼ Bad
Enertopia let its option lapse on Nevada placer mining claims in Churchill, Lander and Nye counties by declining to make the final property payment, narrowing its lithium land position to focus on higher-priority targets including a new push into Argentina.
5 May 2017securities registration● Neutral
Enertopia Corp. filed notice of an exempt private placement.
2 May 2017capital raising announcement● Neutral
Enertopia granted technical consultant JAT Metconsult Ltd. 500,000 stock options at $0.10, routine equity compensation for lithium-project consulting work.
28 Apr 2017capital raising announcement▲ Good
Enertopia closed a CAD$290,160 private placement (3,224,000 units at CAD$0.09) through Leede Jones Gable and Canaccord Genuity - a notably higher price than its 2016 raises, reflecting an improved stock price.
What it means for a shareholder
3.2m new shares at C$0.090 to raise about C$290,160. That's 3.2% dilution: every existing holder's slice gets 3.2% smaller. If you held C$1,000 of shares (11,111 at the issue price), your slice goes from 0.0112% to 0.0109% of the company. To keep it you'd need 363 more shares - about C$33 at the issue price.
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