- Mr. McNicol brings a wealth of experience in corporate development to E3 Metals advisory board
CALGARY, Jan. 22, 2019 /CNW/ - E3 METALS CORP. (TSXV:ETMC.V - News) (FSE:OU7A.F - News) (OTC:EEMMF - News) (the "Company" or "E3 Metals") is pleased to announce the appointment of Mr. John McNicol to the corporate advisory board as an Executive Advisor. John is a seasoned executive and brings a wealth of experience in guiding companies through the development and negotiation of industry collaborations.
Mr. McNicol was formerly the President and Co-CEO of Enwave Corporation where he helped build the company's strategy, royalty revenue streams, licensing and collaboration agreements with leading global players. He raised more than $42 million in financing and improved the liquidity and market value from $8 million to $120 million. Prior to Enwave, Mr. McNicol held positions as President, COO and Director of Concert Industries Ltd. and Merfin International Inc, two leading airlaid non-wovens manufacturers where he helped both companies arrange more than $400 million in financing to support capacity expansion in Canada, Europe and the United States and grew aggregate sales from less than $20 million to more than $200 million. Mr. McNicol was also with HSBC Securities, Pemberton Securities and LRJ Capital and has considerable experience in equity and investment banking.
Chris Doornbos, CEO of E3 Metals commented, "The nascent Petro-Lithium industry continues to evolve and as a Company with a significant Lithium Resource in Alberta, we are reviewing and assessing various strategic opportunities to further develop our proprietary technology and advance our project. John's experience and expertise strengthens our team and we look forward to his contributions."
About E3 Metals Corp.
E3 Metals is a lithium company developing 6.7 Mt LCE of inferred mineral resources in Alberta. Through the commercialization of its proprietary lithium extraction process, E3 plans to quickly move towards the production of high purity, battery grade, lithium hydroxide.
E3 Metals Corp combines a significant resource with the right technology solutions that have the potential to deliver lithium to market in one of the best jurisdictions in the world. Our prolific Leduc Reservoir hosts lithium enriched brine with 6.7 million tonnes LCE inferred mineral resource1 delineated to date. The development of this resource through brine production is a well understood venture in Alberta, where this brine is currently being produced to surface through extensive oil and gas development.
While the lithium brine and hydrocarbons are mutually exclusive, the Leduc Reservoir can support the production of brine few others can boast, with one well having the ability to bring 10,000 m3/day (115 L/s) to surface. With an average and consistent grade of 77.4 mg/L in the Clearwater Resource Area1, E3 Metals' Ion-Exchange Technology can quickly produce a concentrate with a grade as high as 1500mg/L2. With 99% of the impurities removed at the same time and recoveries averaging 90%, this produces a concentrate feedstock that is likely to be processed directly by conventional lithium production technology to produce high purity lithium hydroxide (LiOH∙H2O). The company's plans are to deliver a process facility of 10,000 tonnes/year LiOH by 2022, and continue expansion to an eventual 50,000 tonnes/year.
More information 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.
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 release.
1: E3 Metals has released information on three 43-101 Technical Reports totalling a resource of 6.7 Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15th 2018, effective June 4th 2018. All reports are available on SEDAR (www.sedar.com)
2: E3 Metals News Announcement December 4, 2018: Development of E3 Metals' Extraction Technology Improves Lithium Concentration and Recovery (www.sedar.com)
SOURCE E3 Metals Corp.
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