Energizer Resources Raises $588,000 Through Private Placement

 Energizer Resources (TSX:EGZ,OTCQX:ENZR) says it has closed a private placement offering 4.9 million common shares raising gross proceeds of USD $588,000. The net proceeds will be used to fund the production of purified graphite concentrate samples from the Molo project as well as general working capital purposes.

According to the press release:

In connection with the Offering, the Company paid a cash commission of US$29,400 and issued 147,000 Finder’s warrants. Each Finder’s warrant entitles the holder to acquire one Common Share of Energizer at an exercise price of US$0.12 per share for a period of 24 months from the date of issuance.

The net proceeds from the Offering will be primarily used to fund the production of purified graphite concentrate samples from the Molo Project in Madagascar and also for general working capital purposes.

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