- DTC provides an electronic method for transferring shares on the OTC
- Allows for more efficient and streamlined trading in the United States
CALGARY, April 7, 2020 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (The "Company" or "E3 Metals") is pleased to announce that it has met the requirements to become eligible for the depository and book-entry services of The Depository Trust Company (DTC) in the United States. E3 Metals trades on the OTC in the United States under the symbol: EEMMF. DTC eligibility allows investors to trade and hold E3 Metals shares electronically. The benefit to investors is a more streamlined and efficient method to digitally transfer E3 Metals shares for those residing in the United States. Underwriters, brokers and other market players that are DTC participants can use the service to effect the purchase or sale of E3's common shares through DTC's automated processes. In addition, firms that are not direct participants but maintain a clearing relationship with a DTC participant can use the service as a correspondent.
"The Company remains fully reporting to the TSX Venture Exchange which provides a high degree of compliance and oversight; the DTC eligibility is a starting point for E3 Metals to trade more effectively in the United States," commented E3 Metals CEO, Chris Doornbos, "E3 continues to advance development of our lithium project for the growing electrification revolution. This project is designed and will be built by the experts in Alberta on the backbone of the oil and gas industry. We have a 100% owned, globally significant lithium resource base and we are working in partnership with one of the leading global experts in lithium production and product quality. We are developing a company-owned extraction technology, designed for purity, that is leading the charge towards the future of lithium production across the globe."
About E3 Metals Corp.
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. E3 Metals is currently advancing its proprietary Ion Exchange Direct Lithium Extraction Process (DLE Process) in partnership with Livent Corporation under a Joint Development Agreement. Livent is the world's largest pure-play lithium producer, well-known for being one of the lowest cost producers of lithium carbonate. With facilities across the globe, Livent holds technical expertise in the extraction and production of various lithium products. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada.
Through the successful scale up its DLE Process towards commercialization, E3 Metals plans to quickly move towards the production of high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world. The development of this lithium resource through brine production is a well-understood venture in Alberta, where this brine is currently being produced to surface through an extensive existing oil and gas infrastructure and development. For more information about E3 Metals, visit www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 METALS CORP.
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by NI 43-101 and has read and approved the technical information contained in this announcement.
1: E3 Metals has released information on three 43-101 Technical Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15, 2018, effective June 4, 2018. All reports are available on SEDAR (www.sedar.com)
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.
This news release includes certain forward-looking statements concerning the potential of the Company's projects and technology, 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.
SOURCE E3 Metals Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2020/07/c3414.html