Seems ridiculous..... 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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