CALGARY, Alberta, Oct. 08, 2025 (GLOBE NEWSWIRE) -- E3 LITHIUM LTD. (TSXV:ETL) (FSE: OW3) (OTCQX:EEMMF), ("E3" or the "Company") is pleased to announce that it has increased the size of its previously announced offering. Pursuant to the amended terms, the Company intends to pursue a "best efforts" public offering of units of E3 ("Units"), led by TD Securities Inc., as co-lead agent and sole bookrunner, and Roth Canada Inc. as co-lead agent, together with a syndicate of agents including ATB Securities Inc. and Stifel Nicolaus Canada Inc. (collectively the "Agents"), at a price of C$1.20 per Unit for gross proceeds to the Company of up to C$12,180,000 (the "Offering").
Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole such warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of C$1.50 per Common Share for a period of 36 months from the date of issuance of such Warrant.
The Company has granted the Agents an over-allotment option (the "Over-Allotment Option") to sell up to an additional 15% of the Offering (in any combination of additional Units, Common Shares or Warrants), exercisable in whole or in part at any time up to 30 days after the closing of the Offering. If the Over-Allotment Option is exercised in full, the gross proceeds of the Offering will be $14,007,000.
The Company intends to use the net proceeds from the Offering to fund advancement of the Company's Clearwater Lithium Project and for general working capital purposes. The Offering is expected to close on or about October 14, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities to be issued under the Offering will be offered by way of a prospectus supplement (the "Prospectus Supplement") that will be filed in each of the provinces and territories of Canada (excluding Quebec) under the Company's (final) short form base shelf prospectus dated June 21, 2024 (the "Base Shelf Prospectus").
Access to the Base Shelf Prospectus, the Prospectus Supplement, and any amendments to the documents will be provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement, a base shelf prospectus and any amendment. The Base ...
