Early Warning Report

Rhea-AI Summary

Critical Elements Lithium Corporation (TSXV:CRE)(OTCQX:CRECF) has acquired 12,051,770 shares of Chilean Metals Inc., representing approximately 19.6% of the Issuer's total outstanding shares. This acquisition is part of an option agreement established in December 2020. Prior to this transaction, Critical Elements did not hold any shares in Chilean Metals. The company may consider acquiring more securities or selling its current holdings in the future. The transaction has been reported under Canadian securities legislation's early warning provisions.

Positive

• Acquisition of 12,051,770 shares enhances Critical Elements' position in the market.
• Ownership of approximately 19.6% of Chilean Metals potentially allows for influence in strategic decisions.

Negative

• None.

MONTREAL, QC / ACCESSWIRE / February 25, 2021 / Critical Elements Lithium Corporation (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Company") that it has acquired ownership of 12,051,770 shares (the "Shares") of Chilean Metals Inc. (the "Issuer") in connection with an option agreement. See press release dated December 23, 2020, for more information. The Shares acquired represent, approximately 19.6% of the Issuer's issued and outstanding Shares.

Prior to the transaction, the Company was not a shareholder of the Issuer. Following the closing of this Transaction, the Company owns 12,051,770 Shares which represents approximately 19.6 % of the Issuer's issued and outstanding common shares.

The Shares were acquired for investment purposes. The Company may from time to time acquire additional securities of the Issuer, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.

A copy of the Early Warning Report filed by the Company in connection with the option agreement is available on SEDAR on the Issuer's SEDAR profile. The press release is being issued under the early warning provisions of Canadian securities legislation.

For further information, please contact:

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Critical Elements Lithium Corporation

View source version on accesswire.com:
https://www.accesswire.com/632151/Early-Warning-Report

FAQ

What shares did Critical Elements Lithium acquire?

Critical Elements Lithium Corporation acquired 12,051,770 shares of Chilean Metals Inc.

What percentage of Chilean Metals Inc. does Critical Elements now own?

Critical Elements now owns approximately 19.6% of Chilean Metals Inc.

Was Critical Elements a shareholder of Chilean Metals before this acquisition?

No, Critical Elements was not a shareholder of Chilean Metals prior to this acquisition.

What is the purpose of acquiring shares in Chilean Metals Inc.?

The shares were acquired for investment purposes.

Where can I find more information about this acquisition?

More information can be found in the Early Warning Report on SEDAR.