Shares of Lithium Development Company Pop After Investment from Canadian Government

Shares of Lithium Development Company Pop After Investment from Canadian Government

By: Tomas Ronolski - AllPennyStocks.com News

Monday, November 28, 2022

Lithium is in high demand due to its use in electric vehicles and this company’s ground breaking technology will help position Canada as a world leader as well as creating high quality jobs.

Alberta’s leading lithium developer, E3 Lithium LTD. (TSXV: ETL)(OTCQX: EEMMF),  announced in its press release that it received a $27M CAD investment from the Government of Canada's Innovation, Science and Economic Development's Strategic Innovation Fund.

The objective of the Innovation Fund is to spur innovation for a better Canada by providing funding for large projects and national innovation ecosystems. E3 Lithium joins such companies as Rio Tinto, Stellantis and General Motors who have recently received funding under this program.

Both U.S. and Canadian shares were trading higher in afternoon trade.


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