E3 Lithium Ltd (ETL)

[TradingCharts]

$27-million can buy a IBAT UNIT.

Remember IBAT is a Canadian Company, could they get some cash?

All eligible costs under the program are reimbursed to E3 at 33.94% up to a total of $27M. E3 can immediately apply for all eligible expenses as of the initial application date in August 2021, which includes the costs associated with E3's 2022 drilling program. E3 expects its first reimbursement from SIF to exceed $4M.

Since 2017, E3 has secured approximately $35M CAD to fund its development over the last five years, exclusive of the SIF investment. The SIF investment provides funding stability without share dilution as E3 works towards first lithium production in Alberta.

The SIF contribution is conditionally repayable if and when E3 earns gross revenue from commercial operations. Repayable at a rate of 1% of annual revenue over a period of 20 years, repayments are limited to a maximum of 1.4 times the amount of SIF contribution disbursed.



Making big ones out of little ones.