Energizer Resources Holders Exercise 20 Million Special Warrants

Energizer Resources Inc. (TSX:EGZ,OTCQX:ENZR,FWB:YE5) announced that twenty million special warrants have been deemed to be exercised under the terms of the special warrants certificates and pursuant to the receipt for the company’s short-form prospectus dated July 31, 2015, filed with the securities regulatory authorities in the provinces of Ontario and British Columbia.
As quoted in the press release:

The special warrants were issued on May 4, 2015, at a price of 12 cents per special warrant. In accordance with the terms of the definitive certificates governing the special warrants, each special warrant entitled the holder to acquire, for no additional consideration, one unit of Energizer, with each unit being composed of one common share of Energizer and one-half of one common share purchase warrant of Energizer. Each warrant entitles the holder thereof to purchase one common share at a price of 14 U.S. cents per warrant share until May 4, 2018.
The company also notes that it issued one million common shares and paid $700,000 to Malagasy Minerals Ltd. pursuant to the mineral rights agreement between the parties. Energizer was required to make this payment upon the conclusion of the company’s feasibility study as part of its agreement with Malagasy to acquire a 100-per-cent interest in the Molo graphite project, excluding a 1.5-per-cent net smelter royalty held in Malagasy’s favour.

Click here to view the Energizer Resources Inc. (TSX:EGZ,OTCQX:ENZR,FWB:YE5) press release.
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