E3 Lithium Clarifies Relationship with Third-Party Providers, Denies Involvement in Stock Promotion
CALGARY, Alberta– Amid recent notifications from the OTC Markets Group Inc., E3 Lithium Ltd, a prominent lithium development company, has come forward to clarify its relationship with third-party providers and address stock promotion activity it was previously unaware of. The company emphasizes that it had no involvement in the alleged stock promotion and expressly disapproves of such activities.
E3 Lithium has responded to the OTC Markets’ request by shedding light on promotional materials disseminated by MrPennyStocks.com (MPS) in relation to the company. In their investigation, E3 Lithium has found no material change to its share price as a result of the promotional activities.
Furthermore, the company states that to the best of their knowledge and after conducting an inquiry, none of their directors, officers, controlling shareholders, employees, contractors, or third-party service providers have any association with MPS. The relevant parties were not involved in the creation, distribution, or payment of the MPS promotional materials. However, it is worth noting that certain directors and officers have sold shares amounting to 224,500 over the past 12 months.
E3 Lithium also discloses its engagement with third-party service providers over the same period. These include Native Ads Inc. (June 14, 2023), Independent Trading Group (June 14, 2023), and Meadowbank Strategic Partners Inc. (September 12, 2023).
Responding to the OTC Markets’ request for information on shares or convertible securities issued at a discount to the current market rate, E3 Lithium confirms the issuance of shares through two public offerings in the past 12 months. On June 8, 2023, the company closed a bought deal public offering, issuing 2,499,483 common shares at a price of CAD$2.25 per share, representing an 8% discount to the closing price on May 30, 2023. On September 26, 2023, another bought deal public offering was closed, with the issuance of 6,486,000 common shares at CAD$3.55 per share, representing a 13% discount to the closing price on September 15, 2023.
E3 Lithium encourages investors and interested parties to rely solely on information provided through press releases distributed by the company via approved news wire or disclosure and news services. They should also refer to the company’s filings and disclosures made with SEDAR+.
E3 Lithium is a development company with substantial lithium resources in Alberta. With 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated mineral resources and 0.9 million tonnes LCE Inferred mineral resources, the company has the potential to become a significant player in the growing electrical revolution. The Clearwater Lithium Project, as outlined in E3’s Preliminary Economic Assessment, projects an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax.
As with any forward-looking statement, it is important to note that actual events or results may differ from projected outcomes due to various factors, including the speculative nature of mineral exploration and development, fluctuating commodity prices, and the effectiveness of emerging lithium extraction technologies. E3 Lithium remains committed to providing accurate and transparent information to its stakeholders.
Disclaimer: This article is not intended to provide financial advice. Readers are encouraged to conduct their own research and consult with a qualified professional before making any investment decisions.
