E3 Lithium Closes Upsized CA$11.5 Million Public Offering of Units

01:24 PM EDT, 09/24/2026 (MT Newswires) -- E3 Lithium (ETL.V) closed its upsized public offering of around 12.78 million units for gross proceeds of around CA$11.5 million, including the full exercise of the over-allotment option, it said Thursday. The units were priced at CA$0.90 each, according to the Sept. 17 news release from the company. Each unit is made up of a share and a warrant, with each warrant entitling the holder to buy a share at a price of CA$1.10 until Sept. 24, 2029, said the company. The TSX Venture Exchange has conditionally approved the company's application to list the warrants for trading on the TSXV, the company added. The company plans to use the net proceeds to fund the advancement of its Clearwater Project and for general working capital purposes, it added. "This financing, along with available government grants, strengthens our financial position as we accelerate executing on key milestones to propel the Clearwater Project towards commercial production of battery-grade lithium," said Chief Executive Officer and Chair Chris Doornbos. "The financing was oversubscribed and primarily consisted of institutional investors, which shows a great vote of confidence in the development of our project." The company's shares were last seen down CA$0.01 at CA$0.78 on the TSX Venture Exchange. Price: 0.78, Change: -0.01, Percent Change: -1.27