Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSX.V:CRE) (US OTCQX:CRECF) (FSE:F12) is pleased to announce that at its Annual shareholders meeting (the "Meeting") held on September 13, 2022, shareholders of the Corporation approved all the resolutions, as follows
- Election of Jean-Sébastien Lavallée, Steffen Haber, Eric Zaunscherb, Marc Simpson, Matthew Lauriston Starnes, Marcus Brune, Maysa Habelrih, Ani Markova and Vanessa Laplante as directors;
- Appointment of KPMG LLP as auditors;
- Adoption of the Corporation's equity incentive compensation plan (the "Omnibus Plan").
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Québec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.
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