European Lithium completes business combination and advances flagship asset

European Lithium Limited (ASX: $EUR) has successfully completed the business combination with Sizzle Acquisition Corp. to form Critical Metals Corp. The newly formed Critical Metals Corp. commenced trading on the Nasdaq on 28 February 2024 under the symbol CRML. European Lithium's flagship asset, the Wolfsberg Lithium Project, is now the focus of their attention as they advance its construction and commissioning.

Executive commentary on the completion of the business combination

Tony Sage, Chairman of EUR, expressed his excitement about the completion of the transaction, emphasizing the support it provides for the future commercialization of the Wolfsberg Project on Nasdaq. He extended gratitude to the contributors, Sizzle, and EUR shareholders, highlighting the belief that Critical Metals is well positioned to become a key supplier for the lithium-ion battery supply chain in Europe. He also anticipated a significant increase in shareholder value for EUR shareholders as Critical Metals executes its strategy.

Summary of the completion of the business combination and outlook

European Lithium has successfully completed the business combination with Sizzle Acquisition Corp., forming Critical Metals Corp. The completion has enabled Critical Metals to commence trading on the Nasdaq under the symbol CRML and advance the construction and commissioning of the Wolfsberg Lithium Project. With a focus on becoming a key supplier for the lithium-ion battery supply chain in Europe, European Lithium anticipates benefiting from Critical Metals' future success. The company's ambitions include advancing its European and Ukrainian lithium assets, as well as reviewing project opportunities in the mineral exploration area as part of its growth strategy.