MONTREAL, QC / ACCESSWIRE / July 14, 2023 / Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) is pleased to announce that at its Annual shareholders meeting (the "Meeting") held on July 13, 2023, shareholders of the Corporation approved all the resolutions, as follows:
At its Annual and Special Meeting of Shareholders held on July 13, 2023, the Company's shareholders, by a vote of disinterested shareholders, approved proposed amendments to the Omnibus Equity Incentive Plan (the "Omnibus Plan"). The proposed amendments are as follows:
Terms of office within the Company | Revised expiry date |
From 0 to 3 month | Effective date of termination |
More than 3 months until 1 year | 1 month following effective date of termination |
More than 1 year until 3 years | 3 months following effective date of termination |
More than 3 years | 12 months following effective date of termination |
A summary of the Omnibus Plan can be found in the Management Proxy Circular dated June 5, 2023 (the "Circular"), filed under Critical Elements' profile on SEDAR at www.sedar.com. The Omnibus Plan, in its entirety, is also attached as Schedule "B" to the Circular.
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec, the Corporation's first lithium project to be advanced within a land portfolio of over 1,050 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 94% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government and also received the Certificate of Authorization pursuant to section 164 of Québec's Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks.
For further information, please contact:
Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.cecorp.ca
Jean-Sébastien Lavallée, P.Geo.
Chief Executive Officer
819-354-5146
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.cecorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Market Cap: | US$109.110M |
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