08:00 AM EDT, 03/20/2025 (MT Newswires) -- E3 Lithium ( EEMMF ) said Thursday that it executed the contribution agreement for $4.4 million in non-repayable funding from the Critical Minerals Infrastructure Fund.

Under the terms, E3 Lithium ( EEMMF ) said it will receive reimbursement for 50% of eligible expenditures up to the total $4.4 million allocation.

The company plans to use the funds to conduct preconstruction work on the necessary transportation and energy infrastructure for the Clearwater project in Saskatchewan.

Work includes facilitating electrical connection and substation power studies, transportation assessments, and the associated engagement initiatives, which are key deliverables for supporting the demonstration facility and feasibility study, E3 said.

"E3 Lithium ( EEMMF ) is advancing a new industry in the province of Alberta and this funding supports the design and advancement of some of the infrastructure needed to support the Clearwater project," said Chris Doornbos, E3's President and CEO. "This investment supports E3's development and also opens new opportunities for the province and Canada to be a leader in critical minerals."

E3's share price closed 1.2% lower on Wednesday to $0.80 on the TSXV.