E3 Lithium Ltd V.ETL

Ask Bing

[Alexshipman]

Ok kind of crazy I know but fun no matter. I asked a popular AI machine about Lithium ventures in the Province of Alberta. Here is what it said: 

" Yes, the Government of Canada is investing in E3 Lithium to advance Canada’s EV battery production. This investment will help create battery-grade lithium in Canada and add to the domestic EV battery supply chain. The investment will support E3 Lithium’s $87 million project for the construction of a demonstration plant specializing in lithium production. This facility will be the first step toward a full-scale lithium production plant that will produce up to 20,000 tonnes of battery-grade lithium. This will enable the development of a sustainable, long-term source of lithium supply, which is critical to building electric vehicles and an anchor in the North American supply chainAd1."

I hope this helps!

[Dibah420]

The "investment"  by the GoC, if I remember correctly, amounted to $23m  back in January of this year.

[Alexshipman]

Yes I remember something about the 23 M. I found the reference about 87 M on the gov. of Canada web site. 

[Yajne]

The Cdn Govt investment was actually $27million from Strategic Innovation Fund announced in November 2022. It provides E3 with reimbursement of ~34% of eligible costs up to $27 mil total so it wasn't a lump sum received, it is received gradually as expenditures are made. https://www.e3lithium.ca/newsroom/news-releases/e3-lithium-receives-27m-investment-from-the-government-of-canadas-strategic

[Yajne]

E3 was awarded another $3.5mil from GoC in March 2023. The funds were non-dilutive and non-repayable so should have been received as a lump sum IMO. https://www.e3lithium.ca/newsroom/news-releases/e3-lithium-awarded-35m-in-funding-from--government-of-canada