Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSX.V:CRE) (FSE:F12) is pleased to announce the appointment of Patrick Laperrière, CFA, as Director of Investor Relations and Corporate Development
Patrick is an investment professional with over twenty years of experience in portfolio management and capital markets. Prior to joining Critical Elements Lithium Corporation, he was responsible for portfolios specializing in natural resources as well as Canadian and American small-cap public shares at la Caisse de dépôt et placement du Québec from 1998 to 2003. He then held roles at major brokerage firms, such as Canaccord, RBC, Industrial Alliance and Macquarie, where he developed close relationships with institutional asset managers. These experiences allowed him to acquire excellent knowledge of company analysis and investment portfolio structure. He graduated from the University of Montreal with a Bachelor's degree in Mathematics and a Certificate in Economics. He is also a CFA charter holder (Chartered Financial Analyst) from the CFA Institute.
In connection with this appointment, Patrick has been awarded 200,000 stock options of the Corporation at an exercise price of $1.74 per share for a term of five years. These options will vest over a 12-month period at a rate of 25% per quarter. The options are granted in accordance with the Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company's Stock Option Plan.
"We are very proud to have Patrick join our team. Critical Elements expects to benefit from his many years of experience and relationships", declared Jean-Sébastien Lavallée, Chief Executive Officer of the Company.
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 Quebec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, the Corporation completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at C$726 million at an 8% discount rate. In the Corporation's view, Quebec 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 Quebec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.
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Cautionary statement concerning forward-looking statements
This news release contains "forward-looking information" within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information contained herein include, without limitation, statements relating to the completion of the Project's approval, the completion of the provincial permitting process, mineral reserve estimates, mineral resource estimates, realization of mineral reserve and resource estimates, capital and operating costs estimates, the timing and amount of future production, costs of production, success of mining operations, the ranking of the project in terms of cash cost and production, permitting, economic return estimates, power and storage facilities, life of mine, social, community and environmental impacts, lithium and tantalum markets and sales prices, off-take agreements and purchasers for the Corporation's products, environmental assessment and permitting, securing sufficient financing on acceptable terms, opportunities for short and long term optimization of the Project, and continued positive discussions and relationships with local communities and stakeholders. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: the completion of the Project's approval, the completion of the provincial permitting process, Critical Elements' ability to secure sufficient financing to advance and complete the Project, uncertainties associated with the Corporation's resource and reserve estimates, uncertainties regarding global supply and demand for lithium and tantalum and market and sales prices, uncertainties associated with securing off-take agreements and customer contracts, uncertainties with respect to social, community and environmental impacts, uncertainties with respect to optimization opportunities for the Project, as well as those risk factors set out in the Corporation's year-end Management Discussion and Analysis dated August 31, 2020, the Corporation's Annual Information Form dated August 3, 2021, and other disclosure documents available under the Corporation's SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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