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     750  0 Kommentare Critical Elements and Lepidico Extend Lemare Agreement

    MONTREAL, QUEBEC--(Marketwired - April 6, 2016) - Critical Elements Corporation ("Critical Elements" or the "Company") (TSX VENTURE:CRE)(OTCQX:CRECF)(FRANKFURT:F12) and Lepidico Ltd ("Lepidico") have agreed to extend the date in which Lepidico has to inform Critical Elements of its intention to exercise its right to acquire an interest in the Lemare project under the terms of the Binding Agreement ("Agreement") entered into by the two companies on February 11, 2016.

    Under the Agreement, Lepidico had until April 11, 2016 to complete its due diligence on Lemare and inform Critical Elements of its decision whether or not to exercise its right. Due to ongoing snow cover, Lepidico has been unable to undertake a meaningful site visit of Lemare to finalize its due diligence. As such, the companies have agreed to a one month extension to the due diligence phase to May 11, 2016.

    To date, Lepidico and Platypus Minerals Limited ("Platypus") have been conducting desktop due diligence. The site visit of Lemare is currently scheduled for late April.

    Jean-Sébastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

    Background

    On March 16, 2016, Platypus agreed to acquire 100% of the outstanding shares in Lepidico. Lepidico is an emerging lithium company which has interests in various lithium properties and also owns the L-Max® technology, a proprietary process which has the potential to extract lithium from unconventional sources such as lithium bearing micas.

    About Lepidico

    On March 16, 2016, Platypus agreed to acquire 100% of the outstanding shares in Lepidico. Lepidico is an emerging lithium company which has interests in various lithium properties and also owns the L-Max® technology, a proprietary process which has the potential to extract lithium from unconventional sources such as lithium bearing micas at a competitive cost.

    Currently, the majority of the world's lithium is produced from either brines or hard rock spodumene. L-Max delivers an opportunity to create a third supply source of lithium, namely lithium bearing micas such as lepidolite and zinnwaldite. Although there are a number of known deposits of lithium bearing micas around the world, these materials have typically been overlooked as a source of lithium as there has been no commercial process available to economically extract the contained lithium and produce lithium carbonate or lithium hydroxide that is suitable for end users.

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    Critical Elements and Lepidico Extend Lemare Agreement MONTREAL, QUEBEC--(Marketwired - April 6, 2016) - Critical Elements Corporation ("Critical Elements" or the "Company") (TSX VENTURE:CRE)(OTCQX:CRECF)(FRANKFURT:F12) and Lepidico Ltd ("Lepidico") have agreed to extend the date in which Lepidico has …