CALGARY,
AB, May 31, 2022 /CNW/ - E3 METALS CORP.
(TSXV: ETMC) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3"),
Alberta's leading lithium
developer and Direct Lithium Extraction (DLE) technology innovator,
is pleased to announce it intends to change its name to E3 Lithium
Ltd.
Since its inception in 2017, E3 has evolved to become a leader
in lithium ion-exchange technology with a goal of becoming a major
producer of battery grade lithium products. With its business
focused singularly on lithium, the name change comes at a pivotal
time.
"Over the last five years we have pioneered the development of
Western Canada's leading
lithium-in-brine resource and a made-in-Alberta technology solution for lithium
extraction," said Chris Doornbos,
CEO of E3. "We are excited about this change; E3 Lithium better
reflects the direction and focus of our Company, which is to become
Western Canada's largest supplier
of battery-grade, EV-ready lithium."
The Company has updated its corporate presentation which can be
found on its new website, www.e3lithium.ca.
"I would like to thank the E3 team for getting the Company to
where we are today, and I look forward to the successful future of
E3 Lithium," said Doornbos.
E3 Lithium is a registered trade name to E3 Metals Corp. At the
Company's Annual General Meeting scheduled for June 24, 2022, E3 is seeking shareholder approval
to change the corporate name to E3 Lithium Ltd. In the intervening
period to completion of the proposed name change, E3 will carry on
business as "E3 Lithium". Upon receiving shareholder and TSXV
approvals, E3 Lithium Ltd. expects to trade under the symbol ETL. A
formal announcement will be made confirming the effective date of
the formal change to the new name and trading symbol.
About E3 Lithium
E3 Lithium is a development company with 7.0 million tonnes of
lithium carbonate equivalent (LCE) inferred mineral
resources1 in Alberta
and an NPV8% on its Clearwater Lithium Project 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.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President &
CEO
E3 Lithium
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1: The Preliminary
Economic Assessment (PEA) of the Clearwater Lithium Project NI
43-101 technical report is effective Dec 21, 2020. E3 Metals has
also released three NI 43-101 Technical Reports providing a total
resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource
estimate, identifying 2.2Mt LCE (inferred) effective December 21,
2020; the North Rocky Resource Area (NRRA) Technical Report
effective October 27, 2017 identifying 0.9Mt LCE (inferred); and
the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE
(inferred) dated June 4, 2018. All reports are available on the
Company's website (e3lithium.ca/technical-reports) and SEDAR
(www.sedar.com)
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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.sedar.com.
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.
SOURCE e3 Metals Corp.
