Each one in plain English, with the numbers worked through for a shareholder.
16 Mar 2011capital raising announcement● Neutral
Enertopia granted an advisor 150,000 stock options at $0.18 and settled a further US$12,500 consulting debt to Tom Ihrke by issuing 78,125 shares at $0.16, continuing its pattern of paying consultants in stock.
Enertopia closed a CAD$872,900 private placement (8,729,000 units at CAD$0.10, each with a warrant exercisable at CAD$0.20) through brokers Canaccord Genuity and Wolverton Securities, with proceeds earmarked for its New Mexico mining project and working capital - real cash financing behind the gold-silver-copper exploration push begun in February.
What it means for a shareholder
8.7m new shares at C$0.100 to raise about C$872,900. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Enertopia granted a further 1,010,000 stock options at $0.15 to directors and consultants (Bunka, McAllister, Bhullar, Carlson, Ross), routine equity compensation.
Enertopia settled a US$9,375 consulting debt owed to SVP Business Development Tom Ihrke by issuing 62,500 restricted shares at $0.15, again paying in stock rather than cash.
Enertopia settled a US$15,000 debt owed to its investor-relations firm Mercury Media by issuing 100,000 restricted shares at $0.15, paying a vendor in stock rather than cash - a pattern that recurs through this period.
Enertopia granted 500,000 stock options to its directors and consultants and repriced 1,785,000 older options (adjusted to 892,500 after a 2:1 stock consolidation) to $0.20, routine equity compensation.
Golden Aria borrowed CAD$50,000 from 0743608 BC Ltd., an entity controlled by a director, via an 18%-interest promissory note convertible into shares at $0.25 - an early instance of the insider lending that would recur throughout the company's history.