- E3 Lithium is adding Sonya Savage, a former cabinet minister and Minister of Energy for Alberta, to its board of directors
- Savage’s extensive experience setting energy laws in the province will be invaluable as the company develops its almost 17-million-tonne resource of lithium carbonate equivalent
- E3 Lithium intends to produce battery-grade lithium products through high-recovery direct extraction technology to support global electrification
- E3 Lithium stock is down by 28.57 per cent year-over-year, but has gained 385.71 per cent since 2019
E3 Lithium (TSXV:ETL) is adding Sonya Savage, a former cabinet minister and Minister of Energy for Alberta, to its board of directors.
Savage served as a senior minister for four years in the Alberta government, including as Minister of Energy, Minister of Justice and Solicitor General, and Minister of Environment and Protected Areas.
As Minister of Energy, she led the development of Alberta’s energy and mineral resources, setting policies, legislation and regulations in place to facilitate critical mineral development, including the brine-hosted lithium E3 is pursuing in the province.
Of particular importance is Bill 82, the Mineral Resource Development Act, which passed in 2021, granting oversight of Alberta’s mineral resources to the Alberta Energy Regulator, positioning the province as an emerging mineral and metal producer.
Savage is also a seasoned litigator with more than 13 years of experience in private practice. The Government of Canada recognized her track record by appointing her to the King’s Counsel in 2022.
Her compensation includes 300,000 restricted common shares priced at C$1.70 per share. One third of the shares will vest every year and expire in three, four and five years, respectively.
“Sonya is one of the true experts in policy across Alberta’s energy industry,” Chris Doornbos, E3 Lithium’s president and chief executive officer, said in a statement. “Her leadership in the development of the regulations underpinning the critical minerals industry in Alberta has been instrumental to the industry and E3 Lithium’s growth. Her forward-thinking approaches will be invaluable as E3 Lithium advances into the next stages of its development.”
“Sonya is a very welcome addition to E3 Lithium’s board of directors, and I extend to her a warm welcome on behalf of the entire board,” added John Pantazopoulos, E3’s chairman. “E3 Lithium will benefit immensely from Sonya’s unique background, specialized knowledge of the energy sector and her proven track record of promoting economic diversification in Alberta.”
The news follows the company’s 2024 guidance, which includes engineering studies and permitting efforts to bring its flagship US$1.1 billion Clearwater lithium project closer to production. A pre-feasibility study is expected to be finalized in Q2, followed by immediate feasibility study work, with E3 estimating that it could produce about 150,000 tonnes of battery grade lithium per year – enough for 2.2 million electric vehicles – across multiple envisioned facilities.
E3 Lithium intends to produce battery-grade lithium products through high-recovery direct extraction technology to support global electrification. The company is developing an Alberta-based resource of 16 million tonnes of lithium carbonate equivalent measured and indicated and 0.9 million tonnes inferred.
E3 Lithium (TSXV:ETL) last traded at C$1.70 per share. The stock is down by 28.57 per cent year-over-year, but has gained 385.71 per cent since 2019.
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