Energizer Resources Inc.
Energizer Resources Applies to List Common Shares on The Toronto Stock Exchange
Energizer Resources Inc. / Key word(s): Miscellaneous Energizer Resources Applies to List Common Shares on The Toronto Stock Exchange NEWS RELEASE TORONTO, ON – March 24, 2011 Energizer Resources Inc. (TSX.V: EGZ) (OTCBB: ENZR) (FWB: YE5) ('Energizer' or the 'Company') announces that it has submitted an application to list its common shares on The Toronto Stock Exchange (the 'TSX'), Canada's premier stock exchange. The Company has made an application to graduate to the TSX from its current listing on the TSX Venture Exchange. The Company also trades on the Over-The-Counter Bulletin Board and the Frankfurt Exchange. Energizer Meets TSX Minimum Listing Requirements The application is being made as the Company now satisfies the TSX's minimum listing requirements, including the working capital, financial resources and property requirements, which were achieved with the recently completed non-brokered private placement of U.S.$13,921,495 and the filing of a National Instrument 43-101 ('NI 43-101') compliant resource estimate of 49.5 million tonnes at an average grade of 0.693% vanadium pentoxide ('V2O5') and an inferred resource of 9.7 million tonnes at an average grade of 0.632% V2O5, respectively. Julie Lee Harrs, President and Chief Operating Officer of the Company, said, 'A listing on the TSX is a tremendous opportunity for the Company to have exposure to a broader investor base. As the pre-eminent global stock exchange for international resource companies, the TSX will provide the Company with access to a wider range of institutional investors.' With continued evidence in the marketplace of commercial applications of vanadium-based battery technologies, such as vanadium redox batteries, a great opportunity exists for vanadium producers who can provide the necessary high purity vanadium. The Company's Green Giant vanadium project is being positioned to meet the new anticipated demand for high purity vanadium, as well as the anticipated 7% annual growth in demand for vanadium from the steel industry.
'With a NI 43-101 compliant resource and the recently completed private placement of almost U.S.$14 million, we feel this is the right time to move to the senior exchange to position the Company so that we can aggressively more forward with the development of the project' said Ms. Lee Harrs. Please visit our website at www.energizerresources.com to learn more about the Green Giant vanadium project and to read the latest developments in vanadium news. About Vanadium Vanadium is well established as a strategic metal that strengthens and hardens alloys like steel and is positioned to play a significant role in emerging battery technologies such as batteries for electric cars and for large-scale energy storage. While there are some opportunities for substitution in steel production, the same is not true for other markets, including the emerging energy (battery) storage markets, the military and particularly in the aerospace industry, where vanadium is irreplaceable. About the Green Giant Vanadium Project The Green Giant vanadium project, located in Madagascar, is 100% owned by Energizer. The Company has a NI 43-101 compliant indicated resource of 49.5 million tonnes at an average grade of 0.693% vanadium pentoxide ('V2O5') containing 756.3 million pounds of V2O5 and an inferred resource of 9.7 million tonnes at an average grade of 0.632% V2O5 containing 134.5 million pounds of V2O5. With this resource estimate, the Green Giant deposit currently ranks as one of the largest known vanadium deposit in the world, with only 75% of the 21-kilometre (18 mile) stratigraphic trend of vanadium remaining open for drilling. About Energizer Resources Energizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada. The Company's common shares are traded on the TSX Venture Exchange under the symbol EGZ, on the Over-The-Counter Bulletin Board under the symbol ENZR, and on the Frankfurt Exchange under the symbol YE5. For more information, please visit our website at www.energizerresources.com Or contact: Brent Nykoliation, Vice President of Business Development Toll Free: 800.818.5442 or 416.364.4911 Email: bnykoliation@energizerresources.com or Julie Lee Harrs, President and COO
Cautionary Statement: The above resource estimates were calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Among other things, the terms 'measured', 'indicated' and 'inferred' mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements of the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission. End of Corporate News 25.03.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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