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Critical Elements Announces Receipt For Final Short-Form Prospectus
MONTRÉAL, QC / ACCESSWIRE / December 1, 2021 / Critical Elements Lithium Corporation (T...
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"Critical Elements Announces Receipt For Final Short-Form ProspectusMONTRÉAL, QC / ACCESSWIRE / December 1, 2021 / Critical Elements Lithium Corporation (TSX-V:CRE) (OTCQX:CRECF) (FSE:F12) (the \"Corporation\" or \"Critical Elements\") announces that it has obtained a receipt for the final short-form prospectus dated November 29, 2021 in respect of its recently announced \"bought deal\" underwritten offering (the \"Offering\") (see the press release dated November 4, 2021 for details of the Offering). The Corporation anticipates that the closing of the Offering will occur on December 3, 2021.About Critical Elements Lithium CorporationCritical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Quebec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, the Corporation completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at C$726 million at an 8% discount rate. In the Corporation's view, Quebec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Quebec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.For further information, please contact:Jean-Sébastien Lavallée, P. GéoChief Executive [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary statement concerning forward-looking statementsThis press release contains \"f...