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E3 Lithium Received $4.9 Million Since Q3 2022 from Exercise of Warrants

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E3 Lithium Received $4.9 Million Since Q3 2022 from Exercise of Warrants

 

 

 

 

 

Highlights:

  • E3 Lithium Received $4.9 Million since Q3 2022 from exercise of warrants
  • December 2020 and February 2021 warrants have been exercised or have expired
  • Imperial Oil Limited has the only remaining warrants, which have been prepaid

 

E3 LITHIUM LTD. (TSX-V: ETL) (FSE: OW3) (OTCQX: EEMMF), Alberta’s leading lithium developer and extraction technology innovator, announced that all warrants issued through equity financings that closed on December 17, 2020 and February 8, 2021 have been exercised or expired. E3 Lithium (E3) has received a total of $4.9M CAD since the start of Q3 2022 from the recent warrant exercises.

 

Full account of the warrants recently expired (values in millions)

 

December 17, 2022 Expiration Date February 8, 2023 Expiration Date Total
Aggregate Totals
Total Warrants
Issued
3.3 7.8 11.1
Total Warrants
Exercised
3.2 6.7 9.9
Total Warrants
Unexercised
0.1 1.1 1.2
Total Value
Received
$4.4 $10.9 $15.3
Since Q3 2022
Total Warrants
Exercised
2.1 1.2 3.3
Total Value
Received
$3.0 $1.9 $4.9

 

There are 3.4 million warrants that remain outstanding related to the Imperial Oil Limited investment. These warrants, which expire in June 2024, have been prepaid and E3 has received a total of $6.35 million. E3 currently has a total of 64.4 million shares issued and outstanding.

 

About E3 Lithium

 

E3 Lithium is a development company with total of 24.3 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. As outlined in E3’s Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium’s goal is to produce high purity, battery grade lithium products. 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.

 

Posted February 13, 2023

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