E3 LITHIUM LTD. ("ETL")
BULLETIN TYPE: Prospectus-Share Offering
BULLETIN DATE: October 27, 2023
TSX Venture Tier 1 Company
The Company's Prospectus Supplement dated September 20, 2023 to the Short Form Base Shelf Prospectus dated April 18, 2022, was filed with and accepted by TSX Venture Exchange. The Short Form Base Shelf Prospectus was filed with and receipted by the Alberta Securities Commission on April 19, 2022. The Ontario Securities Commission has also issued a receipt for the Short Form Base Shelf Prospectus. The Short Form Base Shelf Prospectus has been filed under Multilateral Instrument 11-102 Passport System in British Columbia, Saskatchewan, Manitoba, Quebec, New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland and Labrador, Yukon, Northwest Territories and Nunavut.
TSX Venture Exchange has been advised that closing occurred on September 26, 2023, for gross proceeds of $23,025,300.
Underwriters: Echelon Wealth Partners Inc. and Eight Capital (together, the "Underwriters")
Offering: 6,486,000 shares including the full exercise of the Over-Allotment Option (defined below) for total aggregate gross process of $23,025,300.
Share Price: $3.55 per share
Underwriters' Warrants: 324,300 non-transferable warrants exercisable to purchase one share at $3.55 per share until September 26, 2025
Over-Allotment Option: The Company granted the Underwriters an option to purchase an additional 15% of the securities issued. The Over-Allotment Option was exercised in full for $3,003,300 in aggregate.
For further details, please refer to the Company's Prospectus Supplement dated September 20, 2023, the Short Form Base Shelf Prospectus dated April 18, 2022 and the Company's news releases dated September 18 and 26, 2023, all of which are filed on SEDAR+.
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