Business
E3 Metals Receives $5.6 Million from Exercise of Warrants
E3 Metals Receives $5.6 Million from Exercise of Warrants Canada NewsWire ...
About this update from E3 Lithium Ltd
[{"type":"text","content":"\n \n \n \n E3 Metals Receives $5.6 Million from Exercise of Warrants\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 3, 2021\n \n /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the \"Company\" or \"E3 Metals\"), an emerging lithium developer and leading direct lithium extraction (\"DLE\") technology innovator, is pleased to announce that its has received approximately\n \n $5.6 million\n \n from a total of 3.5 million warrants exercised in the month of October.\n \n \n Approximately 3.2 million of the warrants exercised in the past week were issued in connection with a private placement undertaken in the first quarter of 2021 and had an exercise price of\n \n $1.65\n \n with a 2-year term. As of today, E3 Metals has over\n \n $17.0 million\n \n in cash on its balance sheet with 56.9 million shares outstanding. The funds will be used to accelerate its development plans in 2022 for its Field Pilot Plant, Aquifer Management Plan towards a resource classification upgrade and for general working capital purposes.\n \n \n \n \n About E3 Metals Corp.\n \n \n \n E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources\n \n 1\n \n in\n \n Alberta\n \n and an NPV\n \n 8%\n \n on its Clearwater Lithium Project of\n \n USD 1.1 Billion\n \n with a 32% IRR pre-tax and\n \n USD 820 Million\n \n with a 27% IRR after-tax\n \n 1\n \n . Through the successful scale up its DLE technology towards commercialization, E3 Metals' goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to ma...