The pilot project includes drilling Alberta’s first lithium evaluation wells, (what, like hasn't E3 already been doin' that ?) planned to be completed by the end of the third quarter of this year (that's 3 months from now), . Work will also focus on scaling up E3 Lithium’s proprietary technology, which brings the brine liquid to the surface where the lithium is removed and concentrated. This liquid is immediately returned underground as part of a closed-loop system. E3 Lithium’s PEA1 estimates the first phase of development could produce approximately 20,000 tonnes of lithium hydroxide per year......(wow tho - if that's the case)
Under the agreement, E3 Lithium will continue to operate the Clearwater project and retain its IP, with technical and development support from Imperial in areas such as water and reservoir management. The agreement also includes access for E3 Lithium to freehold lands in the area, which are operated by Imperial.
As part of the agreement, Imperial has agreed to invest CAD $6.35 million into E3 (gotta be kiddin' me, is that ALL ?).....at a pre-paid price of CAD $1.86/warrant and the issuance of 3,413,979 warrants. Each warrant provides the holder the option to exercise the warrant for one common share of E3.
I think I'm gonna hafta bail on this - with like, a hundred and fifty dollar profit.....whoopee
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Recent ETL News
- L'Organisme canadien de réglementation des investissements permet la reprise de la négociation - ETL • PR Newswire (Canada) • 09/15/2023 01:39:00 PM
- Canadian Investment Regulatory Organization Trade Resumption - ETL • PR Newswire (Canada) • 09/15/2023 01:34:00 PM
- Suspension de la négociation par l'Organisme canadien de réglementation des investissements - ETL • PR Newswire (Canada) • 09/15/2023 01:23:00 PM
- Canadian Investment Regulatory Organization Trading Halt - ETL • PR Newswire (Canada) • 09/15/2023 01:19:00 PM
- E3 Lithium Files First Quarter 2023 Financial Statements and MD&A • PR Newswire (Canada) • 05/25/2023 11:50:00 PM
- E3 Lithium Begins Field Pilot Plant Site Construction • PR Newswire (Canada) • 05/16/2023 07:05:00 AM
- E3 Lithium Announces Filing of 2022 Annual Information Form and Option Grant • PR Newswire (Canada) • 04/27/2023 07:05:00 AM
- E3 Lithium Files 2022 Year End Financial Results and NI 43-101 Technical Report • PR Newswire (Canada) • 04/21/2023 01:20:00 AM
FEATURED Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • Apr 17, 2024 8:00 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM
Kona Gold Beverages, Inc. Acquires Surge Distribution LLC from Loud Beverage Group, Inc. (LBEV) • KGKG • Apr 16, 2024 8:30 AM
Branded Legacy, Inc. Reports Significant Net Income of Over $3.8 Million • BLEG • Apr 16, 2024 8:30 AM