CALGARY,
AB, July 8, 2022 /CNW/ - 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.
SOURCE e3 Metals Corp.
