Odd Burger Appoints New Chief Financial Officer and Announces Grand Opening of Second Edmonton Location
Vasiliki McInnes Appointed as Chief Financial Officer
Vasiliki McInnes, Odd Burger's co-founder, former Chief Operating Officer, and largest shareholder has been appointed Chief Financial Officer, effective July 25, 2025. Vasiliki has played a critical role in the financial operations of Odd Burger since January 2024 and has led the company's annual financial audit for the past two years. Her deep understanding of Odd Burger's strategic vision and her extensive experience in operations and financial leadership makes her an ideal fit for this role.
"Vasiliki has been a driving force behind Odd Burger's growth and financial discipline," said James McInnes, CEO and Co-Founder of Odd Burger. "Her leadership, commitment, and deep alignment with our mission, positions her perfectly for the CFO role as we enter this next stage of expansion."
Grand Opening: Second Edmonton Location
Odd Burger is also pleased to announce the grand opening of its second Edmonton location at 9518 Ellerslie Road, Edmonton, AB. The celebration will take place on Saturday, August 2, 2025, from 12:00 PM to 6:00 PM, with a ribbon cutting ceremony at 12:00 noon to kick off the festivities.
Highlights of the grand opening include:
$1 plant-based soft serve available all day
25% of all sales donated to Farm Animal Rescue and Rehoming Movement (FARRM), a local sanctuary that provides a safe haven for surrendered and abused farm animals and cats near Wetaskiwin, AB
Free Odd Burger tote bags for the first 30 people in line
This new location continues Odd Burger's mission to make sustainable, ethical, and delicious fast food more accessible across Canada and expands its footprint in Edmonton AB where it successfully operates a franchise location in the west end.
Odd Burger Announces Refiling of CFO Certificate for Interim Financial Statements
Odd Burger has refiled its CFO certificate for Q2 2025 interim financial statements, originally filed on May 29th 2025. The refiling is a result of a clerical error, resulting in the incorrect version filed on SEDAR+.
Odd Burger confirms that the refiled CFO certificate is now accurate and compliant with all applicable requirements of the TSX Venture Exchange. The refiling does not have any impact on the company's previously reported financial statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Odd Burger Corporation
Odd Burger Corporation is a franchised vegan fast-food restaurant chain and food technology company that manufactures a proprietary line of plant-based protein and dairy alternatives. Its manufactured products are distributed to Odd Burger restaurant locations through its foodservice line and also sold at grocery retailers through its consumer-packaged goods (CPG) line. Odd Burger restaurants operate as smart kitchens, which use state-of-the art cooking technology and automation solutions to deliver a delicious food experience to customers craving healthier and more sustainable fast food. With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain along with healthier ingredients, Odd Burger is revolutionizing the fast-food industry by creating guilt-free fast food that can be enjoyed at its restaurant locations or at home though its CPG line. Odd Burger Corporation is traded on the TSX Venture Exchange under the symbol "ODD" and on the OTCPK under the symbol "ODDAF". For more information visit https://www.oddburger.com.
Forward-Looking Information
This news release contains forward-looking information for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward looking information contained or referred to in this news release includes statements relating to future restaurant openings, potential franchisees, demand for our products and other similar statements. Forward-looking information is based on several factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to material assumptions with respect to the continued strong demand for the Company's products, the availability of sufficient financing on reasonable terms to fund the Company's capital requirements and the ability to obtain necessary equipment, production inputs and labour. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forwardlooking information because the Company can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of the Company to differ materially from those expressed or implied in such forward-looking information include, among others, negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, expansion of facilities, competition, availability of raw materials, dependence on senior management and key personnel, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability and product recalls, risks related to intellectual property, difficulties with forecasts, management of growth and litigation, as well as the impact of, uncertainties and risks associated with the ongoing COVID-19 pandemic, many of which are beyond the control of the Company. For a more comprehensive discussion of the risks faced by the Company, please refer to the Company's Annual Information Form filed with Canadian securities regulatory authorities at www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Non-GAAP Measures
This news release may refer to certain non-GAAP measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. 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 news release
SOURCE Odd Burger Corporation
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Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "forecast", "expect", "estimate", "predict", "intend", "would", "could", "if", "may" and similar expressions. This press release includes, among others, forward-looking statements regarding the Company's expectations regarding: the Company's financial profile, the results of the acquisition of Serato and the inclusion of Serato financial results with Tiny's, and the future plans of the Company and its subsidiaries. These statements reflect current expectations of management regarding future events and operating performance and speak only as of the date of this press release. In addition, forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. By their nature, forward-looking statements require management to make various assumptions and are subject to inherent risks and uncertainties. There is a significant risk that such predictions, forecasts, conclusions or projections will not prove to be accurate, that management's assumptions may not be accurate and that actual results, performance or achievements may differ significantly from such predictions, forecasts, conclusions or projections expressed or implied by such forward-looking statements. We caution readers not to place undue reliance on the forward-looking statements in this press release as a number of factors, many of which are beyond the Company's control, could cause actual future results, conditions, actions or events to differ materially from the targets, outlooks, expectations, goals, estimates or intentions expressed in the forward-looking statements. These factors include, but are not limited to: reliance on the Shopify platform; the limited operating history of certain of the Company's subsidiaries; the integration of Serato with Tiny; reliance on management and key employees; conflicts of interest in relation to the Company and its subsidiaries' officers, directors, and consultants; the ability to integrate previous acquisitions or future acquisitions; limitations on claims against a seller of an acquired company; additional financing requirements and earn out obligations; reliance on unaudited financial information for Tiny Fund I LP; risks related to dilution; global financial conditions; management of growth; risks associated with the Company's strategy of growth through acquisitions; tax risks; reputational risks; payment processing risks; currency fluctuations; competitive markets; uncertainty and adverse changes in the economy; unsustainability of the Company's rapid growth and inability to attract new customers, retain revenue from existing merchants, and increase sales to both new and existing customers; adverse effects on the Company's revenue growth and profitability due to the inability to attract new customers or sell additional products to existing customers; future results of operations being harmed due to declines in recurring revenue or contracts not being renewed; cyber security and privacy breaches; changes in client demand; challenges posed by developments in artificial intelligence; challenges to the protection and enforcement of intellectual property; infringement of intellectual property; regulatory risks; risks related to legal claims; ineffective operations through mobile devices, which are increasingly being used to conduct commerce; risks related to information technology; and risks associated with internal controls over financial reporting. For a more detailed discussion of certain of these risk factors, see the list of risk factors in the Company's Annual Information Form dated April 29, 2025 which is available on SEDAR+ at under the Company's profile. The Company cautions that the foregoing list is not exhaustive of all possible factors, as other factors could adversely affect our results. When relying on our forward-looking statements to make decisions with respect to the Company and its securities, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise indicated, the information in this press release is current as of the date of this press release and the Company does not intend, and disclaims any obligation, to update any forward-looking statements, whether written or oral, or whether as a result of new information or otherwise, except as may be required by law. Non-IFRS Measures This press release contains certain non-International Financial Reporting Standard ("IFRS") financial measures. These measures are not recognized measures under IFRS accounting standards as issued by the International Accounting Standards Board. These financial measures do not have standardized meanings prescribed under IFRS and our computation may differ from similarly-named computations as reported by other entities and, accordingly, may not be comparable. These financial measures should not be considered as an alternative to, or more meaningful than, measures of financial performance as determined in accordance with IFRS as an indicator of performance. The Company believes these measures may be useful supplemental information to assist investors in assessing our operational performance and our ability to generate cash through operations. The non-IFRS measures also provide investors with insight into our decision making as we use these non-IFRS measures to make financial, strategic and operating decisions. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and prepare annual budgets and forecasts. Because non-IFRS measures do not have a standardized meaning and may differ from similarly-named computations as reported by other entities, securities regulations require that non-IFRS measures be clearly defined and qualified, reconciled with their nearest IFRS measure and given no more prominence than the closest IFRS measure. Non-IFRS measures are not audited. Unless otherwise indicated, the financial information presented in this press release is prepared in accordance with IFRS accounting standards as issued by the International Accounting Standards Board. These non-IFRS measures have important limitations as analytical tools and investors are cautioned not to consider them in isolation or place undue reliance on ratios or percentages calculated using these non-IFRS measures. The non-IFRS financial measures referred to in this press release are further detailed in the Company's management discussion and analysis for the three months ended June 30, 2025 which is available at and under Tiny's profile on SEDAR+ at NON-IFRS MEASURES RECONCILIATIONS EBITDA and Adjusted EBITDA Three-months ended June 30, Six-months ended June 30,2025 2024 2025 2024Net income / (loss) $ 10,990,847$ (1,671,756 ) $ 6,985,450$ (10,526,223 ) Income tax expense / (recovery)(1,666,830 )(5,287,794 )(1,126,638 )(4,826,253 ) Depreciation and amortization9,562,814 8,873,617 18,248,515 17,598,371Interest expense3,026,865 2,950,853 5,275,836 5,969,940EBITDA21,913,696 4,864,920 29,383,163 8,215,835 EBITDA Adjustments Share of losses from unlisted equityinvestments(4,312,293 )(384,359 )(4,792,069 )(658,994 ) Gain on sale of intangibles- (1,612,839 )- (1,481,060 ) Fair value (gain) / loss to financial instruments122,488 (565,370 )525,113 (2,381,435 ) Fair value on contingent consideration- 23,634 (285,526 )50,369Business acquisition costs2,154,385 292,028 3,616,601 337,370Share-based compensation736,452 290,260 1,447,830 744,041Foreign exchange(5,196,970 )2,018,954 (4,958,879 )5,030,700Other income1(7,586,732 )(423,402 )(7,751,286 )(959,564 ) Non-recurring severance expense201,627 1,065,729 276,880 2,406,308Non-recurring project costs2- 775,963 - 1,635,221Non-recurring professional fees3199,828 409,206 486,859 707,596Adjusted EBITDA8,232,481 6,754,724 17,948,686 13,646,387 1 Other income relates gain/loss on FX, a one-time license income of $8.2 million, and other minor non-operating items2 Non-recurring project related to advertising and promotion expense for a specific project that will not continue in the future.3 Non-recurring professional fees relates to legal fees for the go-public transaction and amalgamation with WeCommerce, restructuring, and software implementation costs Serato Q2-2025 EBITDA and Adjusted EBITDA (Prior to Acquisition) & Pro Forma Adjusted EBITDA Three-months ended June 30, 2025Net loss $ (541,768 ) Income tax expense / (recovery)(113,984 ) Depreciation and amortization(100,941 ) EBITDA(326,843 ) EBITDA Adjustments Business acquisition costs(2,728,426 ) Foreign exchange351,295Q2-2025 Serato Adjusted EBITDA (Prior to Acquisition)2,050,288Adjusted EBITDA8,232,481Pro Forma Adjusted EBITDA10,282,769 EBITDA % and Adjusted EBITDA Margin % Three-months ended June 30, Six-months ended June 30,2025 2024 2025 2024EBITDA $ 21,913,696$ 4,864,920$ 29,383,163$ 8,215,835Revenue50,000,797 51,005,412 98,062,762 99,945,010EBITDA %44 % 10 % 30 % 8 % Adjusted EBITDA8,232,481 6,754,724 17,948,686 13,646,387Revenue50,000,797 51,005,412 98,062,762 99,945,010Adjusted EBITDA Margin %16 % 13% 18% 14% Recurring Revenue and Recurring Revenue % Three-months ended June 30, Six-months ended June 30,2025 2024 2025 2024Recurring Revenues $ 13,194,947$ 9,637,944$ 23,002,818$ 18,894,818Non-recurring revenues36,805,850 41,367,468 75,059,944 81,050,192Total revenue50,000,797 51,005,412 98,062,762 99,945,010 Recurring Revenue %26 % 19 % 23 % 19 % Free Cash Flow and Free Cash Flow per Share Three-months ended June 30, Six-months ended June 30,2025 2024 2025 2024Cash provided by operating activities $ 6,167,181$ (797,399 ) $ 10,124,471$ 3,540,450Business acquisition costs2,154,385 292,028 3,616,601 337,370Interest paid on debt(2,180,183 )(3,094,778 )(4,490,618 )(6,136,925 ) Capital expenditures(127,887 )(95,713 )(221,799 )(310,122 ) Free Cash Flow6,013,496 (3,695,862 )9,028,655 (2,569,227 ) Weighted average number of sharesoutstanding227,731,155 181,614,111 208,398,341 180,413,214Free Cash Flow per Share0.03 (0.02 )0.04 (0.01 ) Three-months ended June 30, Six-months ended June 30,2025 2024 2025 2024EBITDA $ 21,913,696$ 4,864,920$ 29,383,163$ 8,215,835Income taxes paid(2,216,984 )(1,552,564 )(5,419,951 )(2,571,418 ) Interest paid on debt(2,180,183 )(3,094,778 )(4,490,618 )(6,136,925 ) Unrealized foreign exchange (gain) /loss(5,309,541 )1,345,498 (5,400,010 )4,089,902Non-cash income1(10,753,558 )(716,736 )(10,308,750 )(1,585,444 ) Business acquisition costs2,154,385 292,028 3,616,601 337,370Changes in non-cash working capital2,533,569 (4,738,517 )1,870,020 (4,608,425 ) Capital expenditures(127,887 )(95,713 )(221,799 )(310,122 ) Free Cash Flow6,013,497 (3,695,862 )9,028,656 (2,569,227 ) 1 Non-cash expenses relates to specific non-cash items from the cash provided by operating activities. This includes share-based compensation, fair value adjustment to financial instruments, gain on disposal of intangible assets, loss on sale of subsidiaries, fair value adjustment to contingent consideration, loss on sale or disposal of assets, share of earnings from unlisted equity investments, bad debts and interest income. Adjusted Free Cash Flow Post Debt Servicing and Adjusted Free Cash Flow per Share Three-months ended June 30, Six-months ended June 30,2025 2024 2025 2024Free Cash Flow $ 6,013,497$ (3,695,862 ) $ 9,028,656$ (2,569,227 ) Non-recurring bad debt expense1- 833,196 - 833,196Non-recurring project costs- 775,964 - 775,964Non-recurring professional fees199,828 409,206 486,859 1,244,011Severance201,627 1,065,729 276,880 1,504,330Scheduled debt payments(1,361,161 )(3,068,111 )(2,799,370 )(4,400,691 ) Adjusted Free Cash Flow Post Debt Servicing5,053,791 (3,679,878 )6,993,025 (2,612,417 ) Weighted average number of shares outstanding227,731,155 181,614,111 208,398,341 180,413,214Adjusted Free Cash Flow Per Share0.02 (0.02 )0.03 (0.01 ) 1 Non-recurring bad debt expense relates to revenue that was recognized in the 2023 fiscal year. 1 When excluding the of the Company's investments in Frosty Studio Ltd. and 8020 Design Ltd. in the comparative period. The Company's interests were divested in Q4 2024.2 Refer to Non-IFRS Measures for further information.3 Refer to Non-IFRS Measures for further information.4 When excluding the of the Company's investments in Frosty Studio Ltd. and 8020 Design Ltd. in the comparative period. The Company's interests were divested in Q4 2024.5 Refer to Non-IFRS Measures for further information. To view the source version of this press release, please visit Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Associated Press
4 hours ago
- Associated Press
E3 Lithium Provides Clearwater Project Demonstration Facility Update
CALGARY, Alberta--(BUSINESS WIRE)--Aug 12, 2025-- E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3', 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is progressing towards final inspection and commissioning of Phase 1 of the Demonstration Facility ('Phase 1'). This press release features multimedia. View the full release here: Demonstration Equipment Being Assembled on Site The goal of Phase 1 is to fully operationalize the DLE system and associated polishing and purification units to produce a high-quality lithium chloride, which will support the production of battery-grade lithium carbonate. All major equipment for Phase 1 has arrived on site. The DLE system and associated polishing and purification units, previously announced on July 10, 2025, are now fully assembled. Crews continue to assemble and incorporate supporting infrastructure, with the final mechanical and electrical checks underway. The Company expects to complete the assembly of the remaining equipment within the next week, with final mechanical and electrical checks completed shortly thereafter. The system will then undergo final inspection and an extensive operational review to assess equipment performance and identify any damage that may have occurred during transportation to the site. Assuming no major issues are identified through the operational review, the Company is targeting to begin commissioning by the end of August. Commissioning will commence with the introduction of brine, which has been previously stored on site for this purpose, and will focus on ensuring operational efficiency of the DLE system. 'The E3 team has been working very hard to advance the construction of Phase 1 of our Demonstration Facility,' said Chris Doornbos, President and CEO. 'I am very excited to see E3 Lithium be in the position to complete the assembly of the equipment and commencing the commissioning within the coming weeks.' ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President, CEO & Chair E3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the expected timelines for the assembly, testing and commissioning of the demonstration equipment; production, pretreatment, purification, volume reduction and conversion process and features and the expected outcomes thereof; the Company's expectations regarding the production of lithium carbonate; plans and objectives of management for the Company's operations of the Demonstration Facility; and the inherent hazards associated with mineral exploration and mining operations. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company's expectations; that the current exploration, development, environmental and other objectives concerning the Demonstration Facility can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Demonstration Facility will be obtained in a timely manner and on acceptable terms. All forward-looking information (including future-orientated financial 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, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ ( 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. View source version on CONTACT: E3 Lithium - Investor Relations Rob Knowles [email protected] 587-324-2775E3 Lithium - Media Inquiries Kati Dolyniuk External Relations [email protected] 587-324-2775 KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: HARDWARE NATURAL RESOURCES BATTERIES TECHNOLOGY MINING/MINERALS SOURCE: E3 Lithium Ltd. Copyright Business Wire 2025. PUB: 08/12/2025 03:15 AM/DISC: 08/12/2025 03:15 AM
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5 hours ago
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E3 Lithium Provides Clearwater Project Demonstration Facility Update
CALGARY, Alberta--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3', 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is progressing towards final inspection and commissioning of Phase 1 of the Demonstration Facility ('Phase 1'). The goal of Phase 1 is to fully operationalize the DLE system and associated polishing and purification units to produce a high-quality lithium chloride, which will support the production of battery-grade lithium carbonate. All major equipment for Phase 1 has arrived on site. The DLE system and associated polishing and purification units, previously announced on July 10, 2025, are now fully assembled. Crews continue to assemble and incorporate supporting infrastructure, with the final mechanical and electrical checks underway. The Company expects to complete the assembly of the remaining equipment within the next week, with final mechanical and electrical checks completed shortly thereafter. The system will then undergo final inspection and an extensive operational review to assess equipment performance and identify any damage that may have occurred during transportation to the site. Assuming no major issues are identified through the operational review, the Company is targeting to begin commissioning by the end of August. Commissioning will commence with the introduction of brine, which has been previously stored on site for this purpose, and will focus on ensuring operational efficiency of the DLE system. 'The E3 team has been working very hard to advance the construction of Phase 1 of our Demonstration Facility,' said Chris Doornbos, President and CEO. 'I am very excited to see E3 Lithium be in the position to complete the assembly of the equipment and commencing the commissioning within the coming weeks.' ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President, CEO & Chair E3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the expected timelines for the assembly, testing and commissioning of the demonstration equipment; production, pretreatment, purification, volume reduction and conversion process and features and the expected outcomes thereof; the Company's expectations regarding the production of lithium carbonate; plans and objectives of management for the Company's operations of the Demonstration Facility; and the inherent hazards associated with mineral exploration and mining operations. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company's expectations; that the current exploration, development, environmental and other objectives concerning the Demonstration Facility can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Demonstration Facility will be obtained in a timely manner and on acceptable terms. All forward-looking information (including future-orientated financial 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, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ ( 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.
