E3 Lithium Enters Into Agreement to Sell Non-Core Saskatchewan Assets
Cash proceeds to enhance balance sheet and support Clearwater Project development
CALGARY, Alberta–(BUSINESS WIRE)–E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium has entered into an Asset Purchase and Sale Agreement (the “Agreement”) with an arm’s length private company (the “Purchaser”), to sell the Company’s non-core, Saskatchewan based, Estevan Lithium District assets (the “Estevan Assets”) for a total cash consideration of US$4.296 million (C$6.0 million at current USD/CAD exchange rates) (the “Transaction”).
While E3 sees the long-term development potential of the Estevan lithium district, the Company is prioritizing the commercial development of its Clearwater Project, located in Alberta’s Bashaw District. Proceeds from the Transaction will further enhance the Company’s financial position and support the ongoing advancement of the Clearwater Project.
Chris Doornbos, President and CEO of E3 Lithium, said:
E3 Lithium remains focused on developing Canada’s first fully integrated lithium production facility – our Clearwater Project,
“By monetizing these non-core lithium assets in Saskatchewan, we are unlocking value that bolsters our financial position and supports our Clearwater Project’s active development that will help us reach a final investment decision.”
The Transaction is expected to close in late Q4 2025, and is subject to customary closing conditions, including, but not limited to, receipt of all third party consents as well as satisfactory regulatory, surface impediment and environmental due diligence being completed by the Purchaser.
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E3 Lithium Enters Into Agreement to Sell Non-Core Saskatchewan Assets, source
