E3 Metals Announces Upsize to Previously Announced “Bought Deal” Private Placement

Source: · E3 METALS · | January 21, 2021

Source: E3 Metals

CALGARY, ALBERTA, January 21, 2021 – E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading lithium extraction technology innovator, is pleased to announce it has amended the agreement with Echelon Wealth Partners Inc. and Canaccord Genuity Corp. as co-leads and joint bookrunners (the "Underwriters"), pursuant to which the Underwriters have increased the size of its previously announced private placement offering of units of the Company (the "Units") at a price of $1.185 per Unit (the “Issue Price”). Under the amended terms, the Underwriters have agreed to purchase, on a bought deal basis, 5,907,217 Units for gross proceeds to the Company of $7,000,052.15 (the "Offering"), the remaining terms remain unchanged.

“We are very encouraged to see the level of interest in E3 as we grow an institutional following.” commented Chris Doornbos, E3 Metals’ President and CEO. “While there is remaining additional interest, the Company is raising only that which we required to completed our development plans in 2021 and into 2022.”

The Offering is expected to close on or about February 8, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The Units to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.