E3 Lithium Announces Partial Over-Allotment Exercise and Listing of Warrants

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10/31/2025 - 09:35 AM

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CALGARY, Alberta--(BUSINESS WIRE)-- E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), (“E3 Lithium” or the “Company”) a leader in Canadian lithium development, is pleased to announce that the Agents (as defined below) have exercised in part their previously disclosed over-allotment option, resulting in the issuance of an additional 1,000,000 common shares (the “Additional Shares”) at an issue price of $1.07 per Additional Share and 761,250 warrants (the “Additional Warrants”) at an issue price of $0.26 per Additional Warrant for additional aggregate gross proceeds of $1,267,925. Each Additional Warrant entitles the holder thereof to acquire one common share of the Company at a price of C$1.50 per share until October 14, 2028.

The Company has made an application to the TSX Venture Exchange (“TSXV”) for the listing of the 761,250 Additional Warrants as well as the 5,075,000 warrants (together with the Additional Warrants, the “Warrants”) issued in connection with the Company’s public offering of 10,150,000 units for gross proceeds of C$12,180,000 completed on October 14, 2025 (the “Offering”).

An aggregate of 5,836,250 Warrants are expected commence trading on the TSXV on November 5, 2025, under the symbol ETL.WT. The ISIN and CUSIP numbers of the Warrants are CA26925V1325 and 26925V132 respectively. The Warrants are governed by the terms of the warrant indenture dated October 14, 2025, between the Company and Odyssey Trust Company as warrant agent (the “Warrant Indenture”). A copy of the Warrant Indenture is available under the Company’s profile on www.sedarplus.ca.

The Offering was 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. (the “Agents”). In consideration for their services under the Offering, the Agents received a cash commission in the aggregate amount of $756,745.32.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President, CEO & Chair
E3 Lithium Ltd.

About E3 Lithium

E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated¹ resources as well as 0.3 Mt LCE Inferred mineral resources² in Alberta and 2.5 Mt LCE Inferred mineral resources³ in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV(8%) of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV(8%) of USD 3.7 Billion with a 24.6% IRR¹.

1:		The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024 (the “PFS”), identified 16.2 Mt LCE (measured and indicated) and is available on the E3 Lithium website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
2:		The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and is available on the E3 Lithium website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
3:		The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).

Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release.

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.

Forward-Looking Statements

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as “believe”, “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “potential”, “possible” and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to information concerning the listing of the Warrants. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company’s expectations; that the Company’s corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; that all necessary governmental approvals for the planned activities on the Company’s Demonstration Facility will be obtained in a timely manner and on acceptable terms; that the Company will be able to obtain all regulatory and requisite approvals in a timely manner and on acceptable terms.

All forward-looking information (including future-orientated financial 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, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company’s lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company’s profile on SEDAR+ (www.sedarplus.ca). 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.