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Energizer Resources Inc. (TSX:EGZ,OTCQX:ENZR,FWB:YE5) arranged a brokered private placement to raise gross proceeds of up to C$8,000,000 through the sale of subscription receipts of the Company. In addition, Energizer Resources also intends to complete a non-brokered private placement on the same terms for gross proceeds of up to $600,000.
As quoted in the press release:
…it has engaged an agent (the “Agent”) to conduct a brokered private placement, on a best efforts basis, of securities of the Company (the “Offering”) to raise gross proceeds of up to C$8,000,000 through the sale of subscription receipts of the Company (the “Subscription Receipts”). In addition, Energizer anticipates completing a non-brokered private placement on the same terms for gross proceeds of up to C$600,000 raising, if fully subscribed as to the brokered and non-brokered placements, an aggregate of C$8,600,000. In the event the Offering is fully subscribed, the Company has agreed that a total of up to 125,000,000 Subscription Receipts may be sold.
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