3 Apr 2014capital raising announcement● Neutral
Enertopia renewed its Stuart Gray marketing agreement and raised US$177,950 as holders exercised 1,293,500 warrants, at options priced near $0.72 - close to the stock's 2014 peak.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Apr 2014material agreement● Neutral
Enertopia hired a corporate development consultant to handle investor communications around its medical marijuana push, a routine IR expense.
26 Mar 2014capital raising announcement● Neutral
Enertopia appointed cannabis researcher Dr. Robert Melamede to its Advisory Board, paying him in 250,000 shares and options priced at $0.70 - a share price reflecting the stock's run-up during the company's early-2014 cannabis push.
25 Mar 2014capital raising announcement▲ Good
Enertopia raised a further $182,000 as insiders and warrant-holders exercised options and warrants ($67,750 and US$114,250 respectively), continuing the same working-capital cash inflow.
17 Mar 2014capital raising announcement▲ Good
Enertopia raised US$289,475 as holders exercised 1,548,000 warrants from earlier private placements, routine working-capital cash inflow.
14 Mar 2014capital raising announcement● Neutral
Enertopia signed a $21,735 TV/radio marketing contract and raised further cash as insiders and warrant-holders exercised options/warrants for a combined US$170,562, routine working-capital top-ups.
5 Mar 2014material agreement▲ GoodMajor
Enertopia and its President formed a three-year joint venture with Lexaria Corp to jointly source and share in cannabis-sector business opportunities, receiving Lexaria shares and a finder's-fee arrangement on future deals Lexaria closes.
28 Feb 2014capital raising announcement● Neutral
An amendment restating the Green Canvas joint venture terms in full: $100,000 already paid on the letter of intent, then 10 million Enertopia shares and $500,000 cash - $113,400 of which goes to Wolverton Securities as a finder's fee - to vest the first 49% of the medical marijuana business, on the way to 75%.
28 Feb 2014capital raising announcement▲ GoodMajor
Enertopia signed the definitive joint venture agreement to acquire up to 75% of Green Canvas Ltd.'s medical marijuana business, formalizing February's letter of intent (the $100,000 LOI payment already made) with a staged path to a 49% initial stake - its second simultaneous cannabis venture alongside WOM.
27 Feb 2014capital raising announcement● Neutral
Enertopia signed a $50,000 marketing agreement with Agoracom, paid in shares, routine promotional spending.
13 Feb 2014capital raising announcement▲ GoodMajor
Enertopia closed the final tranche of its January private placement (12,938,000 units at US$0.10, US$1,293,800), bringing the combined raise to roughly US$1.7 million with a director and officer participating for $30,000 - substantial financing behind its early-2014 cannabis, vaporizer and mining pushes.
What it means for a shareholder
12.9m new shares at US$0.100 to raise about US$1.3m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.0215% to 0.0168% of the company. To keep it you'd need 2,776 more shares - about US$278 at the issue price.
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10 Feb 2014material agreement▲ GoodMajor
Days after its medical marijuana LOI, Enertopia signed a binding letter of intent to acquire Wisplite Technologies, a developer of e-cigarette/vaporizer technology, for an initial $385,000 plus shares and further funding commitments - pairing its cannabis push with vaporizer hardware.
7 Feb 2014material agreement▲ GoodMajor
Enertopia signed a letter of intent to acquire up to 75% of a private medical marijuana producer's business in Canada (Green Canvas) for up to $1 million cash and 19 million shares over three years, another move into the cannabis sector alongside its existing World of Marihuana joint venture.
5 Feb 2014capital raising announcement● Neutral
Enertopia paid new advisor Ryan Foster a $1,000 honorarium and granted him 50,000 stock options at $0.35, routine advisor compensation.
31 Jan 2014capital raising announcement● Neutral
Enertopia raised CAD$40,500 as insiders exercised 350,000 stock options at $0.075-$0.15, a small non-dilutive-relative cash inflow for working capital.
31 Jan 2014capital raising announcement▲ Good
Enertopia closed the first tranche of a US$429,200 private placement (4,292,000 units at US$0.10), confirming its shares now trade on the Canadian Securities Exchange under symbol TOP - funding its simultaneous cannabis, vaporizer and mining ventures.
What it means for a shareholder
4.3m new shares at US$0.100 to raise about US$429,200. That's 8.4% dilution: every existing holder's slice gets 8.4% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.0215% to 0.0196% of the company. To keep it you'd need 921 more shares - about US$92 at the issue price.
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16 Jan 2014capital raising announcement▲ GoodMajor
Enertopia signed a definitive joint venture agreement to acquire 51% of World of Marihuana Productions Ltd. (WOM), formalizing November's letter of intent for the Mission, BC cannabis license business - the venture it would unwind in October 2014 when WOM's shares were returned to treasury.
14 Jan 2014quarterly activities report▼ Bad
Enertopia Corp. reported quarterly revenue of $0 and a net loss of $149 thousand for the period ended 2013-11-30.
13 Jan 2014capital raising announcement● Neutral
Enertopia hired Don Shaxon for corporate development (250,000 signing shares, a $37,500 bonus and $3,500/month plus 250,000 options) - the same Shaxon relationship that would later see his company Shaxon Enterprises buy Enertopia's Burlington cannabis license interest in 2015.
2 Jan 2014capital raising announcement● Neutral
Enertopia hired a social-media/web marketing consultant (Stuart Gray) for $5,000/month plus 200,000 stock options, routine IR spending.
23 Dec 2013capital raising announcement▲ Good
Enertopia closed a further CAD$126,400 private placement tranche (2,528,000 units at CAD$0.05) through Canaccord Genuity and Wolverton Securities, again to fund working capital and its medical-marijuana acquisition push.
2 Dec 2013asset acquisition disposition● Neutral
Enertopia sold its 8.25% equity stake in Pro Eco Energy (acquired in 2008 for $45,000) to Western Standard Energy for $40,000 in installments, while signaling a pending move into the Canadian medical marijuana sector.
29 Nov 2013late filing notice▼ Bad
Enertopia Corp. notified the SEC that its annual report would be filed late.
26 Nov 2013capital raising announcement▲ Good
Enertopia closed the first tranche of a CAD$136,000 private placement (2,720,000 units at CAD$0.05), with proceeds earmarked for working capital and its pending medical-marijuana acquisition.
18 Nov 2013capital raising announcement● Neutral
Enertopia granted 25,000 options to director Barbara Farr and hired IR firm Coal Harbour Communications for a one-time payment of 200,000 restricted shares, routine investor-relations spending.
7 Nov 2013capital raising announcement● Neutral
Enertopia granted 675,000 stock options at $0.06 to directors, officers and a consultant (McAllister, Bhullar and others), routine equity compensation.
4 Nov 2013capital raising announcement▲ GoodMajor
Enertopia signed a non-binding letter of intent to buy 51% of 0984329 BC Ltd., which operates a medical marijuana facility in Mission, BC - its first step toward what would become the World of Marihuana Productions (WOM) cannabis venture formalized two months later.
4 Oct 2013capital raising announcement● Neutral
Enertopia hired Olibri Acquisitions to source oil and gas acquisition targets, paying 750,000 shares to its principal Stewart Briggs Smith - business-development spending tied to the Downhole Energy oil push.
19 Sept 2013capital raising announcement▲ GoodMajor
Enertopia signed an AMI participation agreement with Downhole Energy LLC to fund and share in up to 100 oil wells on 2,924 acres of historic Pennsylvania leases (Forest/Venango counties), issuing 100,000 shares to Downhole - a new push back into conventional oil and gas drilling alongside the company's other 2013 ventures.
12 July 2013quarterly activities report▼ Bad
Enertopia Corp. reported quarterly revenue of $0 and a net loss of $221 thousand for the period ended 2013-05-31.