E3 Lithium Announces Marketed Equity Offering for Up to $10 Million

Core Viewpoint - E3 Lithium Ltd. is initiating a public offering of units priced at C$1.20 per unit, aiming to raise up to C$10 million to advance its Clearwater Lithium Project and for general working capital purposes [1][4]. Offering Details - The offering will consist of units, each comprising one common share and one-half of a common share purchase warrant, with the warrant allowing the purchase of one common share at C$1.50 for 36 months [2]. - An over-allotment option has been granted to agents to purchase up to an additional 15% of the offering within 30 days post-closing [3]. Financial Projections - The Clearwater Lithium Project has a pre-tax NPV (8%) of USD 5.2 billion and an after-tax NPV (8%) of USD 3.7 billion, with internal rates of return (IRR) of 29.2% and 24.6% respectively [7]. - The company holds 21.2 million tonnes of lithium carbonate equivalent (LCE) in Measured and Indicated resources and 2.5 million tonnes in Inferred resources across Alberta and Saskatchewan [7]. Regulatory and Compliance - The offering will be conducted under a prospectus supplement filed in Canadian provinces and territories, excluding Quebec, and is subject to necessary approvals, including from the TSX Venture Exchange [5][4]. - The securities will not be registered under the United States Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an exemption [6].