Critical Elements Announces the Results From the Annual and Special Meeting of Shareholders

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:

• Election of Jean-Sébastien Lavallée, Steffen Haber, Eric Zaunscherb, Marc Simpson, Matthew Lauriston Starnes, Marcus Brune, Ani Markova, Maysa Habelrih and Vanessa Laplante as directors;
• Appointment of KPMG LLP as auditors;
• Adoption of the Corporation's equity incentive compensation plan (the "Omnibus Plan").

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:

• The Omnibus Plan is amended to increase the total number of common shares of the Company reserved for issuance from 41,462,480 to 43,557,060, to reflect the increase in the number of issued and outstanding common shares of the Company as at the date of this Circular;
• In accordance with policy 4.4, the Omnibus Plan has been amended to specifically describe the vesting requirements applicable to stock options granted to investor relations providers;
• In accordance with policy 4.4, the Omnibus Plan has been amended to specifically provide that the minimum vesting period applicable to DSUs, RSUs and IAUs shall not be less than one year after the grant date, as well as an amendment to limit the expected discretionary acceleration of the vesting period relating to these awards to the minimum vesting period described above, except in connection with a change of control, takeover bid, reverse takeover (RTO) or other similar transaction;
• The Omnibus Plan has been amended to reflect the revised expiration schedule with respect to any award held by a Participant whose employment or directorship with the Company is terminated by the Company or a subsidiary of the Company without cause (whether or not such termination occurs with or without reasonable or adequate notice, or with or without some or adequate compensation in lieu of such reasonable notice), then: with regard to any Vested Award held by such Participant, the Expiry Date shall be the earliest of (i) the Expiry Date of such Award, or (ii) the date is determined in accordance with the following table: