What changed in this filing

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Item 1. Business

2024-11-25 compared with 2023-11-29 · 50 added, 26 removed, 85 unchanged (47% of the section changed)

19 unchanged sentences

Summary of Recent Business

On September 1, 2021 the Company granted 500,000 options to a consultant of the Company for 5yrs at $0.08 per common share.

On December 6, 2021, the Company issued 500,000 stock options to one of the consultants of the Company with an exercise price of $0.07 vested immediately, expiring December 6, 2026.

On December 6, 2021, the Company issued 250,000 stock options to one of the consultants of the Company with an exercise price of $0.07 vested immediately, expiring December 6, 2026.

On December 6, 2021, the Company issued 250,000 stock options to the president of the Company with an exercise price of $0.07 vested immediately, expiring December 6, 2026.

On February 23, 2022, the Company accepted an offer subject to shareholder approval to sell the 160 Acre mineral property in Clayton Valley Nevada to Cypress Development (Nevada) Inc.

for $1,100,000 cash with a deposit of $50,000 being paid on signing and the issuance of 3,000,000 common shares of Cypress Development Corp.

On February 25, 2022, the Company issued 1,000,000 shares at $0.04 to one consultant of the Company and $2,500 cash.

On February 25, 2022, the Company received confirmation of staking 1,760 Acres of 88 unpatented lode claims in Esmeralda County, Nevada.

On April 29, 2022, at the Company's SGM shareholders voted 99.12% 45,021,336 in favor, 0.46% 209,236 against and 0.42% 189,752 abstained, for the resolution to sell the 160 acre clayton valley property.

On May 4, 2022, the Company closed the sale of the 160 acre clayton valley property and received the remaining $1,050,000 in cash and the issuance of 3,000,000 shares of Cypress Development Corp on closing, as per the agreement.

On May 23, 2022 the Company announced the filing of Non provisional patent #1, known as the

Enertopia Solar Booster TM

On May 23, 2022 the Company announced the filing of Non provisional patent #2, known as Enertopia Heat Extractor TM

On August 15, 2022 the Company announced the filing of Non provisional patent #3, known as Enertopia Rain Maker TM

On August 18, 2022 the Company issued 1,000,000 stock options to two Directors of the Company with an exercise price of $0.06 vested immediately, expiring August 18, 2027.

On August 18, 2022 the Company issued 1,000,000 stock options to Chief Financial Officer of the Company with an exercise price of $0.06 vested immediately, expiring August 18, 2027.

During May of 2022, the Company began filing two provisional patents in the Clean Technology segment of our business with 2 more filings occurring during May and August of 2022 for a total of four filings.

On August 15, 2022 the Company announced the filing of Non provisional patent #3, known as Enertopia Rainmaker TM By cooling the backside of the PV panels below the dew point the atmospheric moisture condenses on the back side of the panel and drips as rain into the tray collecting the water.

On January 9, 2023, the Company's shares began trading on the Canadian Securities Exchange ("CSE") under the trading symbol ENRT.

On January 12, 2023 the Company announced the filing of Non provisional patent #4, known as the EMS filed November 2, 2022.

The EMS is a battery monitoring technology that helps to increase the life and health of monitored battery packs.

On March 22, 2023, the Company held its 2023 annual meeting of stockholders At the Annual Meeting, the Company's stockholders voted on (1) the election of the following individuals to the board of directors:

5 unchanged sentences

All proposals were approved.

During February 2024, we received comments from the USPTO (United States Patent and Trademark Office) that the USPTO has declined our application for the Enertopia Solar Booster TM .

We will not be pursuing this application any further.

As a result, the 1,000,000 shares in escrow that were issued upon the condition of the granting of the patent will be returned to Treasury for cancellation.

As of August 31, 2024 the shares were still in escrow.

The Company held its AGM on May 17, 2024.

On May 21, 2024 the Company reported on form 8-K that all resolutions were passed, which included a resolution for the Directors to consolidate the shares of the company based on a range of 1-5 to 1-20 consolidation.

The exact number to be determined at the time the Directors decide to proceed with the share consolidation.

At the time of filing of this report there has not been a decision to proceed with the share consolidation.

Chronological Overview of our Business over the Last Five Years

12 unchanged sentences

On April 2, 2020 the Company announced its maiden 43-101 Lithium resource report.

The project this report referenced was sold on May 5, 2022 for $1,050,000 in cash and 3,000,000 shares of Cypress Development Corp (renamed to Century Lithium).

The project this report referenced was sold on May 5, 2022 for $1,050,000 in cash and 3,000,000 shares of Cypress Development Corp (renamed to Century Lithium), plus a $50,000 cash deposit received February 24, 2022.

On October 30 th , 2020 the Company signed a 1% Royalty agreement with respect to any future commercial lithium production from the Company's Clayton Valley, Nevada claims in exchange for $250,000.

2 unchanged sentences

On January 12, 2023 the Company announced the filing of Non provisional patent #4, known as the EMS filed November 2, 2022.

The EMS is a battery monitoring technology that helps to increase the life and health of monitored battery packs.

On November 2, 2023 the Company announced completion of its National Instrument 43-101 technical report for the West Tonopah (WT) Lithium Project (filed in on form 8K November 2, 2023).

Key data from the report include:

• Current geological modeling has separated the project into two mineral resource areas;

the higher-lithium grade western area defined by 18 sonic drillholes, and the lower-lithium grade eastern area defined by 4 sonic drillholes.

• The western resource area is estimated to contain 212,000 tonnes lithium carbonate equivalent (LCE) of indicated mineral resources at 609 parts per million (ppm) lithium and 420,000 tonnes LCE of inferred mineral resources at 722 ppm.

• The lithium-claystone mineralization occurs in the near surface (between zero and approximately 70 feet of overburden).

• High-grade western resource zone currently accounts for 100% of the indicated and 94.4% of the inferred mineral resources at the WT Lithium Project.

• There is good potential for the indicated portion of the mineral resources in the west resource area to increase because the indicated resource is restricted to the current depth of the drilling with continuing mineralization evident at the end-of-hole depths in several drillholes.

On January 19, 2024 the Company announced that one of the co inventors in CapNtrack was over come by a sudden illness and has passed away.

After discussions with the Estate, Enertopia and the Estate have entered into a mutual Release and Settlement Agreement.

Based on the terms of the Agreement the 2,500,000 shares held in escrow will be returned to Treasury for cancellation.

Also, the 25% interest in CapNtrack held by the deceased co-inventor has been returned to Enertopia.

Enertopia now has a 76% ownership interest in CapNtrack with the remaining inventor holding the remaining 24% interest.

During February 2024, we received comments from the USPTO (United States Patent and Trademark Office) that the USPTO has declined our application for the Enertopia Solar Booster TM .

We will not be pursuing this application any further.

As a result, the 1,000,000 shares in escrow that were issued upon the condition of the granting of the patent will be returned to Treasury for cancellation.

As of August 31, 2024 the shares were still in escrow.

On May 29, 2024 the Company announced results of solution testing work performed on lithium mineralized material from our 2023 drill program on our West Tonopah Lithium project.

Highlights of the process development and laboratory work completed to-date:

HCL acid leaching - extraction of 97% lithium is achieved with 4 hours of retention time at 60 degrees C.

HCL acid leaching - extraction of 91% lithium is achieved with 1 hour of retention time at 60 degrees C.

Sulphuric acid leaching - extraction of 91% lithium is achieved with 4 hours of retention time at 60d degrees C.

Sulphuric acid leaching - extraction of 79% lithium is achieved with 1 hour of retention time at 60 degrees C.

Distilled water leaching for baseline test - extraction of 1% lithium is achieved with 24 hours or retention time at 23degrees C.

The Company held its AGM on May 17, 2024.

The exact number to be determined at the time the Directors decide to proceed with the share consolidation.

At the time of filing of this report there has not been a decision to proceed with the share consolidation.

Our Current Business

10 unchanged sentences

Esmeralda County, NV

Company completed its maiden drill program in June 2022, second phase drill program April 2023 and has a pending 43-101 Technical Resource report pending publication.

Company completed its maiden drill program in June 2022, second phase drill program April 2023 and has a published S-K 1300 Technical Resource report.

Further information can be found at www.enertopia.com.

CLEAN TECHNOLOGY

The company continues to test off-the-shelf technology under the potential for lower capex scenarios in lithium extraction.

2 unchanged sentences

The Enertopia Solar Booster captures heat from the solar panels, increasing PV output enhancing production and increasing the lifetime of the PV panels.

On May 23, 2022 the Company announced the filing of Non provisional patent #2, known as Enertopia Heat Extractor TM Heat Extractor Technology can be used behind the PV panels or in a glazed format on their own to create liquid temperatures to 200 degrees F.

On January 19, 2024 the Company announced that the USPTO had declined our Non provisional patent application and the Company has determined not to pursue the application.

On November 4, 2021, the Company announced the provisional patent filing known as Energy Management System, this was subsequently filed as a non-provisional patent on November 2, 2022, and is undergoing USPTO review.

13 unchanged sentences

McAllister was appointed as our President and on April 14, 2008 he was appointed as a director.

On July 31, 2017, Mr.

McAllister was appointed interim CFO.

McAllister voluntarily suspended and terminated accrual of these consulting fees commencing on December 1, 2019 and continuing until such time as the Company's financial condition permits a resumption of such cost.

On May 1, 2022, the Company entered into a consulting agreement with President of the Company for $9,500 per month plus goods and services tax ("GST") on a continuing basis.

On August 16 th Mr.

McAllister resigned from the interim CFO position.

On July 1, 2024, Mr.

McAllister voluntarily suspended and terminated accrual of these consulting fees.

The Company has a consulting agreement with the CFO of the Company Mr.

5 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business