Impact: Very Positive
E3 Lithium announced it has secured a $27M investment from the Government of Canada’s Innovation, Science and Economic Development’s Strategic Innovation Fund (SIF). The investment supports all aspects of E3’s resource and DLE technology developments, from drilling, DLE piloting, process development, engineering studies (PFS and FS), and more. In our view, the $27M investment is a significant source of non-dilutive capital and represents a very positive endorsement from the Canadian Government, and we expect a material re-rating on the back of this news.