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E3 Lithium Announces Equity Awards Grant and Re-Pricing of Stock Options

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E3 Lithium (OTCQX: EEMMF) has announced updates to its 2024-2025 compensation programs following a successful year. The company is implementing several equity awards including:

- Re-pricing of 2,108,000 non-executive staff stock options from $1.10-$2.75 to $0.81 per share
- Issuance of 786,000 new stock options to company insiders at $0.81 per share
- Grant of 300,000 restricted share units (RSUs) to directors, officers, and employees
- Approval of 509,600 Performance Share Units (PSUs) for staff and 270,000 PSUs for insiders

The PSUs will vest based on achieving specific performance goals within 24 months, including:
- Successful demonstration program
- Securing strategic partners/off-take agreements
- Completing feasibility study
- Successful permitting and stakeholder engagement
- Continued corporate financing

All modifications and issuances are subject to TSXV approval.

E3 Lithium (OTCQX: EEMMF) ha annunciato aggiornamenti ai suoi programmi di compensazione per il 2024-2025 dopo un anno di successo. L'azienda sta implementando diversi premi azionari, tra cui:

- Ricalcolo di 2.108.000 opzioni su azioni per il personale non esecutivo da $1,10-$2,75 a $0,81 per azione
- Emissione di 786.000 nuove opzioni su azioni a membri interni dell'azienda a $0,81 per azione
- Assegnazione di 300.000 unità di azioni vincolate (RSU) a direttori, funzionari e dipendenti
- Approvazione di 509.600 unità azionarie di performance (PSU) per il personale e 270.000 PSU per i membri interni

Le PSU saranno maturate in base al raggiungimento di specifici obiettivi di performance entro 24 mesi, tra cui:
- Programma dimostrativo di successo
- Sicurezza di partner strategici/accordi di acquisto
- Completamento dello studio di fattibilità
- Permessi e coinvolgimento degli stakeholder di successo
- Finanziamento aziendale continuo

Tutte le modifiche e le emissioni sono soggette all'approvazione del TSXV.

E3 Lithium (OTCQX: EEMMF) ha anunciado actualizaciones a sus programas de compensación para 2024-2025 tras un año exitoso. La empresa está implementando varios premios en acciones, incluyendo:

- Reajuste de 2,108,000 opciones sobre acciones para personal no ejecutivo de $1.10-$2.75 a $0.81 por acción
- Emisión de 786,000 nuevas opciones sobre acciones a miembros internos de la empresa a $0.81 por acción
- Otorgamiento de 300,000 unidades de acciones restringidas (RSUs) a directores, funcionarios y empleados
- Aprobación de 509,600 Unidades de Acciones de Rendimiento (PSUs) para el personal y 270,000 PSUs para miembros internos

Las PSUs se otorgarán en función del logro de objetivos de rendimiento específicos dentro de los 24 meses, incluyendo:
- Programa de demostración exitoso
- Asegurar socios estratégicos/acuerdos de compra
- Completar el estudio de viabilidad
- Permisos y compromiso de las partes interesadas exitosos
- Financiamiento corporativo continuo

Todos los cambios y emisiones están sujetos a la aprobación de TSXV.

E3 리튬 (OTCQX: EEMMF)는 성공적인 한 해를 보낸 후 2024-2025 보상 프로그램에 대한 업데이트를 발표했습니다. 회사는 다음과 같은 여러 주식 보상을 시행하고 있습니다:

- 비임원 직원의 2,108,000 주식 옵션 가격을 $1.10-$2.75에서 주당 $0.81로 재조정
- 내부자에게 주당 $0.81로 786,000개의 새로운 주식 옵션 발행
- 이사, 임원 및 직원에게 300,000개의 제한 주식 단위(RSU) 부여
- 직원에게 509,600개의 성과 주식 단위(PSU) 및 내부자에게 270,000개의 PSU 승인

PSU는 24개월 이내에 특정 성과 목표 달성에 따라 발생하며, 목표에는 다음이 포함됩니다:
- 성공적인 시연 프로그램
- 전략적 파트너/구매 계약 확보
- 타당성 조사 완료
- 성공적인 허가 및 이해관계자 참여
- 지속적인 기업 자금 조달

모든 수정 및 발행은 TSXV의 승인을 받아야 합니다.

E3 Lithium (OTCQX: EEMMF) a annoncé des mises à jour de ses programmes de rémunération pour 2024-2025 après une année réussie. L'entreprise met en œuvre plusieurs attributions d'actions, y compris :

- Réajustement de 2 108 000 options d'achat d'actions pour le personnel non exécutif de 1,10 $ à 2,75 $ à 0,81 $ par action
- Émission de 786 000 nouvelles options d'achat d'actions aux initiés de l'entreprise à 0,81 $ par action
- Attribution de 300 000 unités d'actions restreintes (RSU) aux directeurs, aux dirigeants et aux employés
- Approbation de 509 600 unités d'actions de performance (PSU) pour le personnel et de 270 000 PSU pour les initiés

Les PSU seront acquis en fonction de l'atteinte d'objectifs de performance spécifiques dans un délai de 24 mois, notamment :
- Programme de démonstration réussi
- Sécurisation de partenaires stratégiques/accords d'achat
- Achèvement de l'étude de faisabilité
- Obtention des permis et engagement des parties prenantes réussi
- Financement d'entreprise continu

Toutes les modifications et émissions sont soumises à l'approbation de la TSXV.

E3 Lithium (OTCQX: EEMMF) hat Updates zu seinen Vergütungsprogrammen für 2024-2025 nach einem erfolgreichen Jahr angekündigt. Das Unternehmen implementiert mehrere Aktienvergaben, darunter:

- Neupreisung von 2.108.000 Aktienoptionen für nicht-executive Mitarbeiter von $1,10-$2,75 auf $0,81 pro Aktie
- Ausgabe von 786.000 neuen Aktienoptionen an interne Mitarbeiter zu $0,81 pro Aktie
- Gewährung von 300.000 Restricted Share Units (RSUs) an Direktoren, Führungskräfte und Mitarbeiter
- Genehmigung von 509.600 Performance Share Units (PSUs) für Mitarbeiter und 270.000 PSUs für interne Mitarbeiter

Die PSUs werden basierend auf der Erreichung spezifischer Leistungsziele innerhalb von 24 Monaten fällig, darunter:
- Erfolgreiches Demonstrationsprogramm
- Sicherung strategischer Partner/Kaufverträge
- Abschluss der Machbarkeitsstudie
- Erfolgreiche Genehmigungen und Stakeholder-Engagement
- Fortlaufende Unternehmensfinanzierung

Alle Änderungen und Ausgaben unterliegen der Genehmigung durch die TSXV.

Positive
  • Implementation of performance-based compensation structure aligns management interests with shareholders
  • Clear performance metrics tied to business development milestones
Negative
  • Significant downward repricing of stock options from $1.10-$2.75 to $0.81 indicates share price decline
  • Additional equity compensation may lead to dilution for existing shareholders

CALGARY, Alberta--(BUSINESS WIRE)-- E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3 Lithium” or the “Company,” a leader in Canadian lithium, outlines its 2024 and 2025 compensation programs. The Company had a significant and successful 2024 with many major company milestones achieved. In light of excellent work by the team at E3, who are fundamental to that success, the Board of Directors has approved issuing RSUs and repricing options to provide compensation for that effort, which aligns with the Company’s goals to protect E3’s balance sheet.

All non-executive staff’s current and non-exercised stock options have been re-priced. An aggregate total of 2,108,000 stock options (the “Options”) to purchase common shares (“Option Shares”) which are currently exercisable at prices ranging from $1.10 to $2.75 per Option Share, whereby the exercise price of such Options has been repriced to $0.81 per Option Share (the “Re-Pricing”). All other terms within the Options will remain the same. The Re-Pricing does not include stock options previously granted to directors and officers of the Company (the “Insiders”).

Insiders have been issued a total of 786,000 stock options (the “New Options”) to purchase common shares at an exercise price of $0.81 per share under its omnibus equity incentive plan (the “Plan”) with an expiry of 5 years from date of grant. The New Options vest one-quarter immediately and one quarter on each anniversary from the date of grant.

The Company has also granted 300,000 restricted share units (the “RSUs”) to certain directors, officers and employees of the Company under the Plan.

In an effort to be more transparent to both the E3 staff and the market on the issuance of compensation securities, the Company has defined a set of performance goals that, upon success, the Company will issue Performance Share Units (the “PSUs”) per the Plan. As such, The Board of Directors has approved 509,600 PSUs to staff and 270,000 PSUs to Insiders under the Plan. PSUs will vest upon the attainment of Performance Goals, outlined below, to be achieved during the Performance Period of 24 months and are settled with common shares. No PSU may vest before the date that is one year from the date of grant.

Performance Goals are as follows:

  1. Successful Demonstration Program
  2. Securing a Strategic Partner or Off-take Agreement
  3. Completion of Feasibility Study
  4. Successful Permitting, Policy and Stakeholder Engagement
  5. Continued Corporate Financing

The Option Re-Pricing, issuance of PSUs and RSUs are subject to the approval of the TSXV. Prior to such approval, none of the Options may be exercised at the Re-Pricing terms. Upon completion of Re-Pricing, the Options will be exercisable for the balance of their respective original terms.

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 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.9 million tonnes LCE Inferred mineral resources2 in Alberta and 2.5 million tonnes LCE Inferred mineral resources3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR1. E3 Lithium’s goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. 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.

1: The Clearwater Pre-Feasibility Study (“PFS”) news release dated June 26, 2024 is available on the E3 Lithium’s website (e3lithium.ca/newsroom/news-releases/) and SEDAR+ (www.sedarplus.ca).

2: The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).

3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is 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. 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. 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.

E3 Lithium - Investor Relations

Alexis de la Renaudiere

Investor Relations

investor@e3lithium.ca

587-324-2775

E3 Lithium - Media Inquiries

Kati Dolyniuk

External Relations

communications@e3lithium.ca

587-324-2775

Source: E3 Lithium Ltd.

FAQ

What is the new exercise price for E3 Lithium's (EEMMF) repriced stock options?

The repriced stock options have been adjusted to $0.81 per share, down from the previous range of $1.10 to $2.75.

How many Performance Share Units (PSUs) did E3 Lithium (EEMMF) approve in total?

E3 Lithium approved a total of 779,600 PSUs, with 509,600 for staff and 270,000 for company insiders.

What are the performance goals for E3 Lithium's (EEMMF) PSU vesting?

PSUs will vest based on achieving: successful demonstration program, securing strategic partners, completing feasibility study, successful permitting, and continued corporate financing.

How many stock options were granted to E3 Lithium (EEMMF) insiders?

Insiders were granted 786,000 new stock options at an exercise price of $0.81 per share with a 5-year expiry.
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