E3 Lithium Closes Upsized $11.5 Million Equity Offering and Schedules Investor Webinar

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Postmedia has not reviewed the content. by Business Wire E3 Lithium Closes Upsized $11.5 Million Equity Offering and Schedules Investor WebinarAuthor of the article:THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountUpsized financing, including the full exercise of over-allotment option, complements non-repayable government funding to advance the Clearwater Project.E3 to host webinar on Tuesday, September 29, 2026, at 2:00 PM ETNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCALGARY, Alberta — E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF) (“E3”, “E3 Lithium” or the “Company”), a leader in Canadian lithium development, announces the closing of its public offering of 12,782,250 units of the Company (“Units”), previously announced on September 16, 2026 and upsized on September 17, 2026, for aggregate gross proceeds of $11,504,025, including the full exercise of the over-allotment option (the “Offering”).Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $1.10 until September 24, 2029.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Company has applied to list the Warrants issued in connection with the Offering for trading on the TSX Venture Exchange (“TSXV”) and the TSXV has conditionally approved the Company’s listing application. Listing will be subject to the Company fulfilling all the listing requirements of the TSXV.The Offering was co-led by ATB Cormark Capital Markets and Canaccord Genuity Corp., together with a syndicate of agents including Roth Canada Inc. and Stifel Nicolaus Canada Inc. (collectively, the “Agents”) In consideration for their services under the Offering, the Agents received a cash commission in the aggregate amount of $669,992.The Company intends to use the net proceeds from the Offering to fund advancement of the Company’s Clearwater Project and for general working capital purposes as set out in the Prospectus Supplement (as defined below).Two directors (one of whom is also an officer) and two officers of the Company participated in the Offering, acquiring a total of 168,889 Units with an aggregate purchase price of $152,000. Participation by such insiders constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to, or the consideration paid by, such insiders exceeded 25% of the Company’s market capitalization. E3 Lithium did not file a material change report 21 days prior to closing of the Offering as the related parties’ participation had not been confirmed at that time and E3 Lithium wished to close the transaction as soon as practicable for sound business reasons. The securities in the Offering were issued by way of a prospectus supplement (the “ProspectusSupplement”) dated and filed on September 17, 2026, in each of the provinces and territories of Canada (excluding Quebec) under the Company’s (final) short form base shelf prospectus dated July 23, 2026 (the “Base Shelf Prospectus”). Copies of the Prospectus Supplement and the accompanying Base Shelf Prospectus are available under the Company’s SEDAR+ profile at www.sedarplus.ca.“This financing, along with available government grants, strengthens our financial position as we accelerate executing on key milestones to propel the Clearwater Project towards commercial production of battery-grade lithium,” said Chris Doornbos, CEO and Chair of E3 Lithium. “The financing was oversubscribed and primarily consisted of institutional investors, which shows a great vote of confidence in the development of our project.”E3 invites its shareholders and interested stakeholders to join a webinar to be held on Tuesday, September 29, 2026, at 12:00 PM MT (2:00 PM ET) to discuss recent updates and outline the Company’s next steps as it advances the Clearwater Project.Tuesday, September 29, 202612:00 PM MT – 1:00 PM MT (2:00 PM ET – 3:00 PM ET)Virtual Webinar, followed by a Q&A.(Meeting ID: 894 1384 6569) at the time of the meeting; there is no need to register in advanceThe webinar will be followed by a live Q&A session where attendees can submit questions in real-time. Participants are encouraged to submit questions in advance by emailing investor@e3lithium.ca to ensure they are reviewed during the webinar.The webinar recording will be made available on the Company’s website following the event.ON BEHALF OF THE BOARD OF DIRECTORSChris Doornbos, CEO & Chair E3 Lithium Ltd.E3 Lithium is a development company with a total of 21.2 million tonnes (Mt) of lithium carbonate equivalent (LCE) Measured and Indicated mineral resources as well as 0.3 Mt LCE Inferred mineral resources in Alberta, comprised of (a) Measured and Indicated mineral resources of 16.2 Mt LCE at a lithium grade of 75.5 mg/L within its Clearwater Project1 and (b) Measured and Indicated mineral resources of 5.0 Mt LCE at a lithium grade of 54.0 mg/L and Inferred mineral resources of 0.3 Mt LCE at a lithium grade of 42 mg/L within its Garrington District2. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve at a lithium grade of 75.5 mg/L, with a pre-tax NPV (8%) of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV (8%) of USD 3.7 Billion with a 24.6% IRR1.1: The technical report titled “Clearwater Project, NI 43-101 Technical Report on Pre-Feasibility Study, Bashaw District Mineral Property, Central Alberta, Canada”, with an effective date of June 20, 2024, is available on the E3 Lithium’s website ( www.e3lithium.ca/technical-reports/) and under E3 Lithium’s profile on SEDAR+ ( www.sedarplus.ca).This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.2: The technical report titled “NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate”, with effective date of June 25, 2025, is available on the E3 Lithium’s website ( www.e3lithium.ca/technical-reports/) and under E3 Lithium’s profile on SEDAR+ ( www.sedarplus.ca).Unless otherwise indicated, Chris Doornbos, P. Geo., Chief Executive Officer and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsThis news release includes certain forward-looking statements and forward-looking information as defined under applicable securities laws (collectively, “forward-looking statements”) as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “believe”, “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “potential”, “possible” and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the Clearwater Pre-Feasibility Study, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking statements relating to: the anticipated use of the net proceeds of the Offering, including to fund the advancement of the Clearwater Project and for general working capital purposes as set out in the Prospectus Supplement; the listing of the Warrants on the TSXV and the Company’s ability to fulfill all of the listing requirements of the TSXV; receipt of final approval of the Offering by the TSXV ; the availability, amount and timing of non-repayable government funding and grants, and the expectation that such funding, together with the proceeds of the Offering, will strengthen the Company’s financial position; the Company’s ability to meet key milestones and to advance the Clearwater Project toward commercial production of battery-grade lithium; the holding of the webinar on the date and at the time indicated, including the live Q&A session, and the subsequent availability of a recording on the Company’s website; and the estimates of mineral resources and mineral reserves at the Clearwater Project and the Garrington District, the assumptions underlying them, and the results of the Clearwater Pre-Feasibility Study, including estimated NPV, IRR and other future-oriented financial information.All forward-looking statements (including future-orientated financial information) are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company’s lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company’s profile on SEDAR+ ( www.sedarplus.ca). Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.View source version on businesswire.com: E3 Lithium – Investor Relations E3 Lithium – Media Inquiries communications@e3lithium.ca 587-324-2775Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.