E3 Lithium Announces Results from Annual General and Special Meeting, Election of Board Chairperson, and Appoints New Chief Financial Officer
CALGARY, Alberta — E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to announce that all items of business were approved at its Annual General and Special Meeting (the 'Meeting') of shareholders held on July 2, 2025, and that the Board of Directors ('the Directors' or the 'Board') has subsequently elected a Chairperson and appointed a new Chief Financial Officer.
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Results of the Meeting
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At the Meeting, Shareholders voted in favour of the following, as described in the Company's Management Information Circular (the 'Circular') dated May 16, 2025:
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As previously announced, John Pantazopoulos retired from the Board of Directors in order to pursue a career in public office. We wish him well in his future endeavours and would like to thank him once again for his many valuable contributions to E3 Lithium over the years.
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Subsequent to the Meeting, the Directors elected by unanimous resolution Chris Doornbos as Chairperson of the Board. Mr. Doornbos has successfully led E3 Lithium through resource and technology development since 2017 and has been instrumental in developing critical external relationships with industry, government, and stakeholders. This appointment is in line with E3 Lithium's maturation, discussed more fulsomely below. In line with the high standards of corporate governance, the Directors will appoint a lead director at the next board meeting.
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The Board also reconfirmed the Company's subcommittee's including Tina Craft as audit committee chair, Alexandra Cattelan as compensation and human resources committee chair, and Kevin Stashin as governance chair.
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Message from the Incoming Chair of the Board
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I am honoured to have been elected as the Chairperson for E3 Lithium. Several years ago, the Company put in place a plan to transition from a junior explorer and technology developer to a successful mineral producer. These transitions take time, and the Company aims to ensure we are well positioned for eventual construction and operations of a first-of-its-kind lithium processing facility. As part of this evolution, the Company has focused on building a leadership structure that reflects the critical skill sets and industry experience required to guide the next phase of growth and development.
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Nearly two years ago, the Board of Directors was expanded to strengthen its governance and strategic capabilities, with the appointments of Alexandra Cattelan, Tina Craft, and the Hon. Sonya Savage. They joined Kevin Stashin, who had been appointed to the Board in 2021.
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The transition plan is focussed on ensuring the right team is in place at an executive level to align with the growing demands of the business. Included with this is the plan to recruit a President to the Company who will be responsible for managing the internal day-to-day operations and functions of the Company. This includes the continual expansion of the design and construction team to deliver our commitment to build and operate a first-of-its-kind lithium facility in Alberta. This is a critical role for the Company that we will look to bring on board in the coming year. In the interim, I will continue to oversee these important responsibilities. Following the recruitment of a President, my responsibilities as Chairperson and CEO will focus more exclusively on external-facing initiatives that are critical to securing the required regulatory approvals and financing for the Clearwater Project and building the business around the technology and value-additive transactions.
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As E3 Lithium continues to progress the development of the Clearwater Project, raising the required development and construction capital for a project of this scale is a critical role. To lead this effort, E3 Lithium is excited to welcome Brian Newmarch as its new chief financial officer. Brian is a seasoned industry professional with a successful background in raising and managing large capital projects in Alberta and globally.
With over 20 years of experience in finance, energy, and midstream infrastructure, Brian has held senior leadership roles across the North American energy sector. He has served as the Chief Financial Officer at both Tidewater Midstream and Infrastructure and, most recently, Denver-based Humble Midstream LLC, following executive positions at Seven Generations Energy and ARC Resources. Throughout his career, Brian has led strategic debt and equity financings to support major infrastructure developments and operational growth across Western Canada. He also brings experience in go-public transactions, corporate mergers, and large-scale asset acquisitions and divestitures. Earlier in his career, Brian worked in commodity sales and trading at global financial institutions, including Credit Suisse and Citi, where he specialized in structured risk management and financing solutions. Brian holds the Chartered Financial Analyst designation and a Bachelor of Commerce degree from the Haskayne School of Business at the University of Calgary.
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The Company has granted Newmarch 300,000 incentive stock options (the 'Options'), vesting 25% per year over four years at an exercise price based on the closing price on July 2, 2025, under its omnibus equity incentive plan (the 'Plan'). In addition, Newmarch was issued 40,000 Performance Share Units ('PSUs'), issued in line with the Company's performance goals outlined on March 7, 2025, and 20,000 Restricted Share Units ('RSUs') vesting 50% per year over the next two years. The grant of the Options and issuance of PSUs and RSUs are subject to the approval of the TSX Venture Exchange.
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The Board and Management would like to thank Raymond Chow for his four years of service at E3 Lithium. Raymond was instrumental to the Company's success during his tenure. His dedication to the Company through our growth stage has been significant, and his contributions have added value across the organization. We wish him all the best in his future endeavours.
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The Company has also initiated the recruiting process for a Vice President of Facility Design, considering both internal and external candidates. The key responsibilities will include leading the design team through the successful development, deployment, and construction of the first commercial facility and beyond.
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E3 Lithium is at an exciting stage as the Company matures and moves closer to commercial operations. We are well prepared to execute on our vision of building a lithium industry in Alberta, supporting Canada's initiatives to be a leader in critical minerals, and ensuring the Company's ongoing success. This success is, at its core, the success of the team and the work they will accomplish over the coming years. We are very proud of the work we have completed to date and are confident in building a business poised for the future and ready to execute. I would like to thank our shareholders and stakeholders for their ongoing support of this vision.
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ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, Chairperson & CEO
E3 Lithium Ltd.
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About E3 Lithium Ltd.
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E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1.
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1:
The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's 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 will be available on the E3 Lithium's website ( www.e3lithium.ca/technical-reports/) and SEDAR+ ( www.sedarplus.ca) within 45 days of this news release.
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's website ( www.e3lithium.ca/technical-reports/) and SEDAR+ ( www.sedarplus.ca).
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Forward-Looking and Cautionary Statements
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This news release includes certain forward-looking statements 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.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.
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Contacts
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Rob Knowles
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Investor Relations
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investor@e3lithium.ca
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587-324-2775
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Kati Dolyniuk
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