E3 Lithium Received $4.9 Million Since Q3 2022 from Exercise of Warrants
E3 Lithium Received $4.9 Million Since Q3
2022 from Exercise of Warrants
Highlights:
E3 Lithium Received
$4.9 Million
since Q3 2022 from exercise of warrants
December 2020
and
February 2021
warrants have been exercised or have expired
Imperial Oil Limited has the only remaining warrants, which have been prepaid
CALGARY, AB
,
Feb. 13, 2023
/CNW/ - E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX:
EEMMF),
Alberta's
leading lithium developer and extraction technology innovator, today announced
that all warrants issued through equity financings that closed on
December 17, 2020
and
February 8,
2021
have been exercised or expired. E3 Lithium (E3) has received a total of
$4.9M
CAD since the
start of Q3 2022 from the recent warrant exercises.
Full account of the warrants recently expired (values in millions)
December 17, 2022 Expiration Date
February 8, 2023 Expiration Date
Total
Aggregate Totals
Total Warrants
Issued
3.3
7.8
11.1
Total Warrants
Exercised
3.2
6.7
9.9
Total Warrants
Unexercised
0.1
1.1
1.2
Total Value
Received
$4.4
$10.9
$15.3
Since Q3 2022
Total Warrants
Exercised
2.1
1.2
3.3
Total Value
Received
$3.0
$1.9
$4.9
There are 3.4 million warrants that remain outstanding related to the Imperial Oil Limited investment.
These warrants, which expire in
June 2024
, have been prepaid and E3 has received a total of
$6.35
million
. E3 currently has a total of 64.4 million shares issued and outstanding.
About E3 Lithium
E3 Lithium is a development company with total of 24.3 million tonnes of lithium carbonate equivalent
(LCE) inferred mineral resources1 in
Alberta
. As outlined in E3's Preliminary Economic Assessment,
the Clearwater Lithium Project has an NPV8% of
USD 1.1 Billion
with a 32% IRR pre-tax and
USD
820 Million
with a 27% IRR after-tax
1
. 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 Ltd.
1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101
technical report is effective
Sept 17, 2021
. The mineral resource NI 43-101 Technical Report for the
North Rocky Property, effective
October 27, 2017
, identified 0.9Mt LCE (inferred). The mineral
resource NI 43-101 Technical Report for the Bashaw District Project, effective
July 11, 2022
,
identified 23.4Mt LCE (inferred). All reports are available on the E3 Lithium'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 Lithium
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2023/13/c5642.html
%SEDAR: 00011471E
For further information:
E3 Lithium - Investor and Media Relations: Robin Boschman, Director,
External Affairs, [email protected], 587-324-2775
CO: E3 Lithium
CNW 03:05e 13-FEB-23