Critical Elements Announces the Results from the Annual and Special Meeting of Shareholders

Rhea-AI Summary

Critical Elements Lithium Corporation (TSX.V:CRE) announced that at its Annual shareholders meeting on September 13, 2022, all resolutions were approved. Key outcomes included the election of directors: Jean-Sébastien Lavallée, Steffen Haber, and others; the appointment of KPMG LLP as auditors; and the adoption of the Omnibus Plan for equity incentive compensation. The company is focused on its Rose lithium project in Québec, which boasts an impressive after-tax internal rate of return of 82.4% and a net present value of US$1.9 billion.

Positive

• Successful approval of all resolutions at the Annual shareholders meeting.
• Appointment of KPMG LLP enhances financial credibility.
• Strong projected financial metrics for the Rose lithium project, including a 82.4% internal rate of return and US$1.9 billion net present value.

Negative

• None.

MONTREAL, QC / ACCESSWIRE / September 14, 2022 / Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSX.V:CRE) (US OTCQX:CRECF) (FSE:F12) is pleased to announce that at its Annual shareholders meeting (the "Meeting") held on September 13, 2022, shareholders of the Corporation approved all the resolutions, as follows:

• Election of Jean-Sébastien Lavallée, Steffen Haber, Eric Zaunscherb, Marc Simpson, Matthew Lauriston Starnes, Marcus Brune, Maysa Habelrih, Ani Markova and Vanessa Laplante as directors;
• Appointment of KPMG LLP as auditors;
• Adoption of the Corporation's equity incentive compensation plan (the "Omnibus Plan").

About Critical Elements Lithium Corporation

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 Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. On June 13^th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation's view, Québec 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 Québec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

For further information, please contact:

Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
plaperriere@cecorp.ca
www.cecorp.ca

Jean-Sébastien Lavallée, P.Geo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca

SOURCE: Critical Elements Lithium Corporation

View source version on accesswire.com:
https://www.accesswire.com/715964/Critical-Elements-Announces-the-Results-from-the-Annual-and-Special-Meeting-of-Shareholders

FAQ

What key resolutions were approved at Critical Elements Lithium Corporation's Annual shareholders meeting on September 13, 2022?

All resolutions were approved, including the election of directors and the appointment of KPMG LLP as auditors.

What is the expected financial outcome of the Rose lithium project?

The Rose lithium project has an estimated after-tax internal rate of return of 82.4% and a net present value of US$1.9 billion.

Who were elected as directors during the Annual shareholders meeting of Critical Elements Lithium Corporation?

Directors elected include Jean-Sébastien Lavallée, Steffen Haber, Eric Zaunscherb, and others.

What is the significance of the Omnibus Plan adopted by Critical Elements Lithium Corporation?

The Omnibus Plan is an equity incentive compensation plan aimed at attracting and retaining talent within the organization.