Energizer Resources Inc. (TSX:EGZ,OTCQX:ENZR,FWB:YE5) has closed its recently announced financing for gross proceeds of C$7,344,488.
As quoted in the press release:
Each Subscription Receipt issued pursuant to the Offering was sold at a price of C$0.12 and was exercised, without additional consideration, on closing, for one common share (“Common Share”) and one half of one purchase warrant (each whole warrant, a “Warrant”). Each Warrant has an exercise price of C$0.18 and a term of 36 months following the date of issue, except for those Warrants issued to insiders which have a term of 18 months following the date of issue. The Offering raised gross proceeds of C$7,344,488 on the sale of 61,204,067 Subscription Receipts resulting in 61,204,067 Common Shares and 30,602,034 Warrants.