ENERTOPIA CORP. (OTCMKTS:ENRT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
Enertopia Corp. (“we”, “us”, “our”, the “Company”) has entered into a Net Smelter Returns Purchase Royalty Agreement dated October 29, 2020 to which it has granted a perpetual 1% net smelter returns royalty for its Lode and Placer claims located in Esmeralda county Nevada. The royalty holder paid $250,000 on execution of the agreement in consideration of the royalty. Subject to the 1% royalty, and a previously sold additional 1% royalty, the Company holds a 100% interest in the 160 acre property, which it originally staked on BLM lands in August, 2017.
Royalty payments will be payable annually within 60 days after each fiscal year during which any sales of treated minerals from the Esmeralda property have occurred. The royalty grants no working interest or right of possession, and imposes no transfer restriction, or duty of exploration, development, or production. The royalty holder will have a right to monitor the processing of minerals from the property. The Company has a right of first refusal to repurchase the royalty upon any proposed sale by the royalty holder to a third party. There is no affiliate relationship between the Company and the royalty holder.
On October 30, 2020 the Company issued a news release, attached as exhibit 99.1, announcing the sale of the above described net smelter returns royalty.
Enertopia Corp. Exhibit
EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Enertopia Corporation: Exhibit 99.1 – Filed by newsfilecorp.com Exhibit 99.1 Press Release #202012 FOR IMMEDIATE RELEASE October 30,…
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About ENERTOPIA CORP. (OTCMKTS:ENRT)
Enertopia Corp. is a development-stage company. The Company is engaged in pursuing business opportunities in various sectors natural resource and technology used in the resource sector. The Company operates through two segments: alternative health and wellness, and natural resource acquisitions. The Company focuses on a technology used for lithium extraction through brines. The Company was a natural resource company and was engaged in the exploration, development and acquisition of natural resources in the United States and Canada.
