E3 Lithium (EEMMF) has received conditional approval for up to $4.7 million in non-repayable funding from the Critical Minerals Infrastructure Fund (CMIF). The investment will support preconstruction work on transportation and energy infrastructure for the Clearwater Project, including studies for transportation upgrades and energy optimization for lithium production.
The funding, part of CMIF’s $1.5 billion federal initiative until 2030, will reimburse 50% of eligible costs. E3 can apply for expenses incurred from October 2024, potentially including work on the Demonstration Facility Project. The agreement is expected to be finalized within months.
Since 2017, E3 has secured approximately $37.5 million CAD in non-dilutive funding, excluding this CMIF investment. This additional funding provides financial stability without share dilution as the company progresses toward first lithium production in Alberta.
E3 Lithium (EEMMF) ha ricevuto l’approvazione condizionata per un massimo di $4,7 milioni in finanziamenti non rimborsabili dal Critical Minerals Infrastructure Fund (CMIF). L’investimento supporterà i lavori di pre-costruzione per le infrastrutture di trasporto ed energia per il Clearwater Project, comprese le studi per gli aggiornamenti dei trasporti e l’ottimizzazione energetica per la produzione di litio.
Il finanziamento, parte dell’iniziativa federale del CMIF di $1,5 miliardi fino al 2030, rimborserà il 50% dei costi ammissibili. E3 può richiedere il rimborso delle spese sostenute a partire da ottobre 2024, potenzialmente includendo i lavori sul Progetto della Struttura Dimostrativa. Si prevede che l’accordo venga finalizzato entro pochi mesi.
Dal 2017, E3 ha assicurato circa $37,5 milioni CAD in finanziamenti non diluitivi, escludendo questo investimento del CMIF. Questo ulteriore finanziamento offre stabilità finanziaria senza diluizione delle azioni mentre l’azienda avanza verso la prima produzione di litio in Alberta.
E3 Lithium (EEMMF) ha recibido aprobación condicional para hasta $4.7 millones en financiamiento no reembolsable del Critical Minerals Infrastructure Fund (CMIF). La inversión apoyará los trabajos de preconstrucción en la infraestructura de transporte y energía para el Clearwater Project, incluyendo estudios para mejoras en el transporte y optimización energética para la producción de litio.
El financiamiento, parte de la iniciativa federal de $1.5 mil millones del CMIF hasta 2030, reembolsará el 50% de los costos elegibles. E3 puede solicitar el reembolso de los gastos incurridos a partir de octubre de 2024, potencialmente incluyendo trabajos en el Proyecto de Instalaciones de Demostración. Se espera que el acuerdo se finalice en unos meses.
Desde 2017, E3 ha asegurado aproximadamente $37.5 millones CAD en financiamiento no dilutivo, excluyendo esta inversión del CMIF. Este financiamiento adicional proporciona estabilidad financiera sin dilución de acciones mientras la empresa avanza hacia la primera producción de litio en Alberta.
E3 리튬 (EEMMF)은 Critical Minerals Infrastructure Fund (CMIF)로부터 최대 $4.7 백만의 비상환 자금에 대한 조건부 승인을 받았습니다. 이 투자는 Clearwater Project를 위한 교통 및 에너지 인프라의 사전 건설 작업을 지원하며, 리튬 생산을 위한 교통 개선 및 에너지 최적화 연구를 포함합니다.
이 자금은 2030년까지 CMIF의 $1.5 억 연방 이니셔티브의 일환으로, 적격 비용의 50%를 환급합니다. E3는 2024년 10월부터 발생한 비용에 대해 신청할 수 있으며, 이는 시연 시설 프로젝트 작업을 포함할 수 있습니다. 계약은 몇 달 내에 최종화될 것으로 예상됩니다.
2017년 이후, E3는 이 CMIF 투자금을 제외하고 약 $37.5 백만 CAD의 비희석 자금을 확보했습니다. 이 추가 자금은 알버타에서의 첫 리튬 생산을 향해 나아가는 동안 주식 희석 없이 재정적 안정성을 제공합니다.
E3 Lithium (EEMMF) a reçu une approbation conditionnelle pour un maximum de 4,7 millions de dollars de financement non remboursable du Critical Minerals Infrastructure Fund (CMIF). Cet investissement soutiendra les travaux de préconstruction sur les infrastructures de transport et d’énergie pour le Clearwater Project, y compris des études pour des améliorations de transport et une optimisation énergétique pour la production de lithium.
Le financement, qui fait partie de l’initiative fédérale de 1,5 milliard de dollars du CMIF jusqu’en 2030, remboursera 50 % des coûts éligibles. E3 peut demander le remboursement des dépenses engagées à partir d’octobre 2024, y compris potentiellement des travaux sur le projet d’installation de démonstration. L’accord devrait être finalisé dans quelques mois.
Depuis 2017, E3 a sécurisé environ 37,5 millions CAD en financement non dilutif, excluant cet investissement du CMIF. Ce financement supplémentaire offre une stabilité financière sans dilution des actions alors que l’entreprise progresse vers sa première production de lithium en Alberta.
E3 Lithium (EEMMF) hat eine vorläufige Genehmigung für bis zu 4,7 Millionen Dollar an nicht rückzahlbaren Mitteln vom Critical Minerals Infrastructure Fund (CMIF) erhalten. Die Investition wird die Vorbereitungsarbeiten für die Transport- und Energieinfrastruktur des Clearwater-Projekts unterstützen, einschließlich Studien zur Verbesserung des Transports und zur Energieoptimierung für die Lithiumproduktion.
Die Finanzierung, Teil der 1,5 Milliarden Dollar umfassenden Bundesinitiative des CMIF bis 2030, wird 50% der förderfähigen Kosten erstatten. E3 kann ab Oktober 2024 für entstandene Ausgaben beantragen, möglicherweise einschließlich Arbeiten am Demonstrationsanlagenprojekt. Der Vertrag wird voraussichtlich in wenigen Monaten abgeschlossen.
Seit 2017 hat E3 etwa 37,5 Millionen CAD an nicht verwässernden Mitteln gesichert, ohne diese CMIF-Investition. Diese zusätzliche Finanzierung bietet finanzielle Stabilität ohne Verwässerung der Anteile, während das Unternehmen auf die erste Lithiumproduktion in Alberta hinarbeitet.
Positive
- Secured $4.7M non-repayable government funding
- No shareholder dilution from this funding
- 50% cost reimbursement for eligible expenses
- Part of larger $37.5M non-dilutive funding secured since 2017
Negative
- Funding is still conditional pending final agreement
- Expenses can only be claimed from October 2024
E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce that it has been conditionally approved for contribution funding of up to
CMIF’s goal is to provide up to
“Developing Canada’s abundant critical minerals drives economic opportunity and creates good jobs. Developments like this help mines get built faster, and they are a key element in seizing the generational opportunity before us. The funding provided to E3 Lithium Ltd., will help advance the development of the necessary infrastructure to expand Alberta’s sustainable critical minerals production. E3 Lithium Ltd., and many other businesses in
– The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources
“The investment from CMIF supports the planning and development of some of our critical infrastructure for our Clearwater Project, focussing around the Central Processing Facility.
– Chris Doornbos, President and CEO, E3 Lithium
All eligible costs under the program are reimbursed to E3 at
Since 2017, E3 has secured approximately
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.
About E3 Lithium
E3 Lithium is a development company with a total of 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.9 million tonnes LCE Inferred mineral resources2 in
1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium’s website (https://e3lithium.ca/our-assets/technical-reports/) and SEDAR+ (www.sedarplus.ca).
2: The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).
3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).
Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release.
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is 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, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. 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.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250303279923/en/
E3 Lithium – Investor Relations
Alexis de la Renaudiere
Investor Relations
investor@e3lithium.ca
587-324-2775
E3 Lithium – Media Inquiries
Kati Dolyniuk
External Relations
communications@e3lithium.ca
587-324-2775
Source: E3 Lithium Ltd.
FAQ
How much funding did E3 Lithium (EEMMF) receive from the Critical Minerals Infrastructure Fund?
E3 Lithium received conditional approval for up to $4.7 million in non-repayable funding from CMIF.
What will the CMIF funding be used for in E3 Lithium’s Clearwater Project?
The funding will support preconstruction work on transportation and energy infrastructure, including studies for transportation upgrades and energy optimization for lithium production.
When can E3 Lithium (EEMMF) start claiming expenses under the CMIF funding?
E3 can apply for eligible expenses incurred from October 2024, including potential work on the Demonstration Facility Project.
How much non-dilutive funding has E3 Lithium secured since 2017?
E3 has secured approximately $37.5 million CAD in non-dilutive funding since 2017, excluding the new CMIF investment.