E3 Metals Adds Seasoned Oil and Gas Executive to the Board
CALGARY, Feb. 17, 2021 - E3 Metals Corp. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction technology innovator, is pleased to announce the appointment of Mr. Kevin Stashin as an Independent Director to its Board, effective today.
Mr. Stashin is an oil and gas executive with over 40 years of industry experience with both junior and major companies, including Devon Canada Corporation, Anderson Exploration, and Petro-Canada. Most recently, he was the CEO of NAL Resources until its recent strategic combination with Whitecap Resources Inc. His expertise includes over 20 years as an executive in various business, technical and management roles including developing strategic direction, organizational effectiveness, reservoir development, new ventures, production, operations, and business development. Kevin and the companies that he has worked for have operated in Alberta and from within the same aquifer as E3 Metals' Clearwater Lithium Project.
Mr. Stashin also serves as the Chair of the Board of the Petroleum Technology Alliance of Canada (PTAC), sits on the Clean Resources Innovation Board (CRIN), and was a member of the Board of Governors with the Canadian Association of Petroleum Producers (CAPP). He earned a Bachelor of Science in Engineering from McGill University and completed his MBA at the University of Calgary. He is currently a member of APEGA, APEGS, and the Society of Petroleum Engineers.
As part of the Company's continual maturation, the E3 Metals announces the resignation of Mr. Paul Reinhart from the Board of Directors, effective today, but will remain as an Advisor to the Company. Mr. Reinhart was instrumental in assisting E3 Metals' public listing in 2017 and has been a key member of the Board over the past nearly 4 years. The Company is extremely grateful for his service and assistance in cultivating E3 Metals.
CEO and Director, Chris Doornbos commented, "The appointment of Kevin Stashin marks a significant transition point as E3 Metals advances the Clearwater Project towards commercialization wherein new skill sets are required to provide guidance, support, and oversight at the Board level. We sincerely thank Mr. Reinhart for being part of E3's success to this point." Doornbos added, "We are thrilled to now welcome Mr. Stashin to our Board; Kevin's expertise will be invaluable as we enter the next phase of E3 Metals."
"I am thrilled to join the E3 Metals Board and be a part of this exciting venture. The demand for lithium is growing and E3 Metals has positioned itself to help meet that demand. This local diversification could have a substantial impact on the provincial economy and I am pleased to bring my skills from the oil and gas industry to the Company," commented Kevin Stashin.
Paul Reinhart commented, "I am proud of the accomplishments of the entire E3 team in advancing this project to its next stage of development and believe the added strength of Kevin joining the Board is a testament to the progress we have made. I look forward to continuing to work with E3 Metals as an advisor."
Additionally, the Company announces that it has granted incentive stock options to purchase a total of 200,000 common shares at an exercise price of $3.80 per share for a period of three years to certain directors and officers in accordance with the provisions of its stock option plan.
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32%1 IRR pre-tax and USD 820 Million with a 27% IRR after-tax. Through the successful scale up its DLE technology towards commercialization, E3 Metals' goal is to produce 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. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada. For more information about E3 Metals, visit http://www.e3metalscorp.com.
For more information about E3 Metals, visit http://www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 Metals Corp.
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Metals has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective December 21, 2020; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE (inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated June 4, 2018. All reports are available on the Company's website (e3metalscorp.com/technical-reports) and SEDAR (www.sedar.com)
Forward-Looking and Cautionary Statements
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.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.
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.
SOURCE E3 Metals Corp.
Chris Doornbos, Phone: (587) 324-2775, firstname.lastname@example.org