E3 Lithium Announces Annual Meeting Results and Grant of Stock Options

In This Article:

CALGARY, Alberta, July 17, 2024--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), "E3 Lithium" or the "Company," a leader in Canadian lithium, is pleased to announce that all items of business were approved at its annual general and special meeting (the "Meeting") of shareholders held on July 16, 2024. At the Meeting, Shareholders voted in favor of the following, as described in the Company’s management information circular dated May 31, 2024 (the "Circular"):

  1. Appointing MNP LLP as the Company’s auditor for the ensuing year

  2. Setting the number of directors at six

  3. The election of all director nominees listed in the Circular, comprised of:

    1. Chris Doornbos

    2. John Pantazopoulos

    3. Kevin Stashin

    4. Alexandra Cattelan

    5. Sonya Savage

    6. Tina Craft

  4. The amendment of the Company’s omnibus equity incentive plan from a "rolling" to a "fixed" plan

  5. Approving the Amended and Restated By-Law No. 1 of the Company as described in the Circular

Tina Craft joins the board of directors of E3 Lithium (the "Board") and replaces Mike O’Hara, who has retired from the Board. E3 Lithium would like to thank Mr. O’Hara for his seven years of service and significant contributions to the Company.

As part of Ms. Craft’s appointment to the Board, the Company has granted Ms. Craft incentive stock options (the "Options") exercisable to acquire up to 300,000 common shares of the Company at an exercise price of $1.52 per share under its omnibus equity incentive plan with an expiry dates as to 100,000 Options on each of the third, fourth and fifth anniversaries from the date of grant. The Options will vest as to one-third of all Options on each of the first, second, and third anniversary of the date of grant. The grant of the Options is subject to approval by the TSX Venture Exchange.

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.