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Energizer Resources closes C$7.3 million financing through its private placement

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GMP Securities L.P. and GMP Securities Europe L.L.P.

Fasken Martineau represented GMP, in its capacity as agent and broker to Energizer Resources Inc. (Energizer Resources), in its connection with the placement of subscription receipts (“Subscription Receipts”) of the Company (the “Offering”) on the TSX. 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. Energizer Resources is a TSX listed mineral exploration and mine development company based in Toronto, Canada, which is focused on developing its 100%-owned flagship Molo flaked Graphite Project located near Fotadrevo, in Southern Madagascar, Africa. The net proceeds from the Offering will be used primarily to fund a feasibility study in respect of the Graphite Project. Funds will also be used for general working capital purposes, including generating additional quantities of graphite concentrate for product evaluation and marketing.



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