European Lithium has finalized a strategic partnership with Sizzle Acquisition, resulting in the establishment of Critical Metals.
This collaboration positions the Wolfsberg Lithium Project as the inaugural flagship asset of Critical Metals, with the company’s immediate focus on advancing the mine’s construction and commissioning.
The successful conclusion of the transaction and subsequent listing of Critical Metals on the Nasdaq represent significant milestones in bolstering the development of this pivotal lithium asset, essential for Europe’s transition to green energy.
As part of the agreement, European Lithium has received 67,788,383 ordinary shares in Critical Metals, securing the company’s status as the largest shareholder with an 83.03% stake in the issued capital.
The estimated value of European Lithium’s investment in Critical Metals currently stands at $839 million (A$1.3 billion), based on the closing share price of $12.38 per share as of February 29, 2024.
