E3 Metals to Become E3 Lithium
E3 Metals to Become E3 Lithium
CALGARY, AB
,
May 31, 2022
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTCQX:
EEMMF) (the "Company" or "E3"),
Alberta's
leading lithium developer and Direct Lithium Extraction
(DLE) technology innovator, is pleased to announce it intends to change its name to E3 Lithium Ltd.
Since its inception in 2017, E3 has evolved to become a leader in lithium ion-exchange technology
with a goal of becoming a major producer of battery grade lithium products. With its business
focused singularly on lithium, the name change comes at a pivotal time.
"Over the last five years we have pioneered the development of
Western Canada's
leading lithium-in-
brine resource and a made-in-
Alberta
technology solution for lithium extraction," said
Chris
Doornbos
, CEO of E3. "We are excited about this change; E3 Lithium better reflects the direction
and focus of our Company, which is to become
Western Canada's
largest supplier of battery-grade,
EV-ready lithium."
The Company has updated its corporate presentation which can be found on its new website,
www.e3lithium.ca
.
"I would like to thank the E3 team for getting the Company to where we are today, and I look
forward to the successful future of E3 Lithium," said Doornbos.
E3 Lithium is a registered trade name to E3 Metals Corp. At the Company's Annual General Meeting
scheduled for
June 24, 2022
, E3 is seeking shareholder approval to change the corporate name to
E3 Lithium Ltd. In the intervening period to completion of the proposed name change, E3 will carry
on business as "E3 Lithium". Upon receiving shareholder and TSXV approvals, E3 Lithium Ltd.
expects to trade under the symbol ETL. A formal announcement will be made confirming the
effective date of the formal change to the new name and trading symbol.
About E3 Lithium
E3 Lithium is a development company with 7.0 million tonnes of lithium carbonate equivalent (LCE)
inferred mineral resources
1
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-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
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Metals 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.
View original content:
http://www.newswire.ca/en/releases/archive/May2022/31/c6638.html
%SEDAR: 00011471E
For further information:
Aneta Fabianova, Manager, Investor Communications,
[email protected], 587 324 2775
CO: e3 Metals Corp.
CNW 03:05e 31-MAY-22