Critical Elements Comments on Recent Market Activity

Rhea-AI Summary

Critical Elements Lithium (TSX.V:CRE, US OTCQX:CRECF, FSE:F12) has issued a statement in response to a request from the Canadian Investment Regulatory Organization (CIRO). The company confirms that its management is not aware of any material change in the 's operations that could explain the recent increase in market activity. This statement was released on October 3, 2024, from Montreal, QC, to address the unusual market behavior observed in the company's stock.

MONTREAL, QC / ACCESSWIRE / October 3, 2024 / At the request of Canadian Investment Regulatory Organization ("CIRO"), Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSX.V:CRE)(US OTCQX:CRECF) (FSE:F12) wishes to confirm that the Corporation's management is unaware of any material change in the Corporation's operations that would account for the recent increase in market activity.

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-Tantalum project in Québec, the Corporation's first lithium project to be advanced within a land portfolio of over 1,050 km². On August 29, 2023, the Corporation announced results of a new Feasibility Study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 65.7%, with an estimated after-tax net present value of US$2.2B 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 94% 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, received the Certificate of Authorization pursuant to section 164 of Québec's Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks, and the project mining lease from the Québec Minister of Natural Resources and Forests under the Québec Mining Act.

Neither 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.

For further information, please contact:

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

SOURCE: Critical Elements Lithium Corp.

View the original press release on accesswire.com

FAQ

What did Critical Elements Lithium (CRECF) say about recent market activity?

Critical Elements Lithium stated that its management is unaware of any material change in the 's operations that would account for the recent increase in market activity.

Who requested Critical Elements Lithium (CRECF) to comment on market activity?

The Canadian Investment Regulatory Organization (CIRO) requested Critical Elements Lithium to comment on the recent market activity.

When did Critical Elements Lithium (CRECF) issue the statement about market activity?

Critical Elements Lithium issued the statement on October 3, 2024.

What stock exchanges is Critical Elements Lithium (CRECF) listed on?

Critical Elements Lithium is listed on TSX Venture Exchange (TSX.V:CRE), US OTCQX (CRECF), and Frankfurt Stock Exchange (FSE:F12).