Enertopia Corp. was very pleased to announce today that it has signed a definitive agreement with Global Solar Water Power Systems Inc. As terms of the agreement, the company can now acquire up to a 20% equitable ownership interest in GSWPS in exchange for cash payments of up to $400,000 and the issuance of 1,000,000 shares of common stock.
According to the press release, the company has issued 500,000 restricted shares and $40,500 in cash payments to fulfill its initial payment requirements. As of February 28, 2010, Enertopia has closed on and now owns 5.62% of the water purification company.
Enertopia and GSWPS are currently pursuing partnership with third parties for the worldwide rollout of their transportable solar powered water purification units.
“Enertopia looks forward to not only building the portable solar water business but also growing it’s presence in clean power generation. We are very proud that our deliberate and planned actions of today are building the foundation for a clean energy utopia – an Enertopia – of tomorrow,” stated Enertopia President Robert McAllister. “Our technology and actions could contribute to saving the lives of millions and making the world a better place.”
Enertopia also told investors that it is developing a new website that will be operational soon. The new website will better illustrate its commitment and vision.
GSWPS is focused on developing and manufacturing state of the art transportable solar powered trailer or bench-mounted water purification units that can be delivered and operated nearly anywhere in the world and can provide a village, resort, or remote work-camps with all their drinking water and domestic water requirements. Over 300 locations in Iraq are now benefiting from clean drinking water as a result of the deployment of these systems.