E3 Lithium Announces $20.0 Million Bought Deal Public Offering
- E3 Lithium secures funding through bought deal offering
- None.
Not for Distribution to United States News Wire Services or for Dissemination in
The Company has granted to the Underwriters an option (the “Over-Allotment Option”, and together with the Base Offering, the “Offering”), exercisable for a period of 30 days after and including the closing date of the Offering, to purchase for resale up to an additional
The net proceeds from the Offering will be used towards the advancement of the Clearwater Project and corporate development activities.
The Offered Shares will be sold by way of a prospectus supplement to be filed in all of the provinces of
The Offering is scheduled to close on or about September 26, 2023 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The Offered Shares have not been and will not be registered under the
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.
About E3 Lithium
E3 Lithium is a development company with a total of 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral resources1 in
1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is amended Sept 17, 2021. Gordon MacMillan, P.Geol, QP, Fluid Domains Inc. and Grahame Binks, MAusIMM, QP (Metallurgy), formerly of Sedgman Canada Limited (Report Date: June 15, 2018, Effective Date: June 4, 2018 Amended Date: September 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 March 21, 2023, identified 16.0Mt LCE (measured & indicated). All reports are available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).
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. In particular, this news release contains forward-looking information pertaining to the Offering and the proposed use of proceeds therefrom. 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.sedarplus.ca. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, delays in obtaining required regulatory approvals, failure to satisfy closing conditions in respect of the Offering and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that all conditions precedent to the completion of the Offering (including the receipt of all requisite regulatory approvals) will be satisfied in a timely manner; and general business and economic conditions will not change in a materially adverse manner. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230917767085/en/
E3 Lithium - Investor and Media Relations
Greg Foofat
Manager, Investor Relations
investor@e3lithium.ca
587-324-2775
Source: E3 Lithium Ltd.