E3 Lithium Receives TSXV Approval and Closes Agreement with Imperial Oil

E3 Lithium Receives TSXV Approval and Closes Agreement with Imperial Oil

E3 LITHIUM LTD. (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF) (the "Company") Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator, is pleased to announce further to its news release of June 23, 2022, that it has received TSX Venture Exchange ("TSXV") approval to issue 3,413,979 prepaid warrants (the "IOL Warrants") to Imperial Oil Limited as well as 128,024 common shares (the "Finder's Shares") to the finder in respect of the transaction with Imperial Oil Ltd.

On closing today, the Company issued and delivered the IOL Warrants against receipt of the sum of CAD $6.35M and issued and delivered the Finder's Shares as well as paid the finder the balance of the finder's fee in the amount of CAD$79,375.

"E3 Lithium is pleased to have completed the agreement with Imperial Oil and we look forward to working closely with their team to rapidly advance our Clearwater Lithium Project development," commented Chris Doornbos, E3 Lithium's CEO.

About E3 Lithium

E3 Lithium is a development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium's goal is to produce high purity, battery grade lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.

ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium

1: The Preliminary Economic Assessment( PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Lithium has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective December 21, 2020; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE (inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated June 4, 2018. All reports are available on the Company's website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)

Forward-Looking and Cautionary Statements

This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: E3 Lithium - Investor and Media Relations, Robin Boschman, Director, External Relations, 403-612-9498, investor@e3lithium.ca

Source

ETL:CA
The Conversation (0)
E3 Lithium Outlines 23.4 Mt LCE Inferred Mineral Resource in Consolidated Bashaw District

E3 Lithium Outlines 23.4 Mt LCE Inferred Mineral Resource in Consolidated Bashaw District

E3 Lithium (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3 Lithium" or "E3"), Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator today announced the increase in its inferred mineral resource to 23.4 million tonnes of lithium carbonate equivalent (LCE) contained within the newly-named Bashaw District (the "Resource"). The Bashaw District combines and expands the Clearwater Resource and Exshaw Resource areas into a consolidated resource that contains an estimated total of 59 billion m 3 (59 km 3 ) of brine formation water at an average grade of 74.5 milligramLitre (mgL) lithium (Figure 1).

"This increase clearly establishes E3 Lithium, and the Leduc Aquifer in this region, as being a globally-significant source of lithium," commented Chris Doornbos , E3's CEO.  "With the combination of the Resource, and the Company's ion-exchange direct extraction technology, E3 continues to lead Alberta on the path to becoming a major lithium producing jurisdiction.  With E3's significant resource, established social licence to operate, supportive government policy, low-risk and transparent regulatory processes, and stable tax and royalty systems, E3 is well-situated to realize commercial production of battery-grade lithium."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Galan Lithium

Galan Investor Presentation Singapore March 2024

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to present its investor presentation.

Click here for the full ASX Release

Keep reading...Show less
Lithium Universe

Extension To Share Purchase Plan

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7") provides the following update regarding its $3.0 million Share Purchase Plan (SPP), as announced on 13 March 2024 (ASX release: LU7 Launches Share Purchase Plan).

Keep reading...Show less
Galan Lithium

Shareholders Resoundingly Support SPP

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce the results of the Share Purchase Plan (“SPP”) announced on 31 January and 9 February 2024. The SPP was extended a week and closed at 5.00pm (AWST) on Friday 22 March 2024.

Keep reading...Show less
Galan Lithium

Galan Increases Total Mineral Resource by 18% to 8.6Mt LCE @ 859mg/L Lithium

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce a further consolidating increase to its JORC (2012) reported Mineral Resource estimate for the Hombre Muerto West Project (HMW Project) located in Catamarca Province, Argentina. The revised Mineral Resource estimate was completed by a team of leading independent geological consultants, WSP Chile (WSP).

Keep reading...Show less
Trevor Walker, lithium-ion battery.

Frontier Lithium: Lithium's Long-term Outlook Strong as EV "Evolution" Continues

Speaking to the Investing News Network (INN), Trevor Walker, president and CEO of Frontier Lithium (TSXV:FL,OTCQX:LITOF) shared details on the company's recent deal with Mitsubishi (TSE:8058).

With a definitive agreement to establish a joint venture partnership in hand, Frontier will be working on progressing Phase 1 and Phase 2 definitive feasibility studies for its PAK lithium project in Northern Ontario.

Phase 1 will focus on a mine and mill, while Phase 2 will look at a downstream refinery.

Keep reading...Show less

Latest Press Releases

Related News

×