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File: 36284120_1_E3 Metals News Release Close of Financing .DOCX
CALGARY, ALBERTA, December 24, 2018 -E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"
--->) is pleased to announce the closing of its non-brokered private placement financing (the "Offering") announced on Decem
--->ber 17, 2018. Under the Offering, the Company has issued 307,500 units of the Company (the "Units") at a price of $0.40
---> per Unit (the "Unit Price") for gross proceeds of $123,000. Each Unit comprises one common share (a "Share") and one c
--->ommon share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Share with an exercise pric
--->e of $0.60 for a period of 18 months following the date of issuance.
In accordance with applicable securities laws and the policies of the TSX Venture Exchange ("TSXV"), the Company paid a
--->n aggregate $2,000 in cash commission, and issued an aggregate 10,000 broker warrants, on the same terms as the Warrants
--->, in connection with the Offering.
All securities issued are subject to a hold period under applicable securities laws in Canada expiring on four months an
--->d a day from issuance.
E3 Metals will use the net proceeds of the Offering to accelerate the progression of its proprietary lithium extraction
--->technology and for general and working capital expenses.
In addition, the Company granted stock options, to officers of the Company for the purchase of up to 175,000 Shares of t
--->he Company at an exercise price of $0.40 per Share for a period of 3 years. The options will vest in 50% tranches quarte
--->rly, beginning 3 months from grant, in accordance with the policies of the TSXV. The stock option issuance remains subje
--->ct to TSXV approval.
About E3 Metals Corp.
E3 Metals is a Petro-Lithium company rapidly advancing the development of direct recovery lithium brine projects in Albe
--->rta. E3 Metals holds lithium resources at 6.7 Mt LCE (inferred)1. The Company has a compelling competitive advantage by
--->virtue of having access to extensive infrastructure built by the Oil and Gas industry in Alberta. This has provided E3 M
--->etals with low finding costs, as the Company has been able to sample existing wells to define its resource. This infrast
--->ructure may also provide wells and pipelines for a future lithium production operation, potentially reducing the Company
--->'s future capital requirements. The Company's immediate goal is to scale-up its proprietary chemical concentration proce
--->ss, which it views as a key driver to enable commercial production of its Alberta lithium brine resources. More informat
--->ion about E3 Metals can be found on our website by visiting: www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 METALS CORP.
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by NI 43-101 and has read
--->and approved the technical information contained in this announcement.
E3 Metals has released information on three 43-101 Technical Reports totalling resource of 6.7 Mt LCE. The Central Cl
--->earwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, a
--->nd the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inf
--->erred). Both reports are available on SEDAR (www.sedar.com). A third report for the Exshaw West Resource Area (EWRA), id
--->entifies 3.9Mt LCE (inferred) and will be released within the next week.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TS
--->X Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements concerning the potential of the Company's projects to prod
--->uce saleable lithium byproducts, including LCE, the future performance of our business, its operations and its financial
---> performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking stat
--->ements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" an
--->d 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 assumpt
--->ions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating comm
--->odity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been test
--->ed or proven on a commercial scale or on the Company's brine, competitive risks and the availability of financing, as de
--->scribed 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.
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