Critical Metals Corp. F-4 is Effective

European Lithium Limited (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce that the Form F-4 Registration Statement of Critical Metals (F-4 Registration Statement or F-4) in relation to the proposed merger transaction has been declared effective by the U.S. Securities and Exchange Commission (the SEC).

HIGHLIGHTS

• Critical Metals Corp. (Critical Metals or CRML) F-4 declared effective by SEC;
• Special Meeting of Sizzle’s stockholders to approve the proposed business combination with Critical Metals to be held on or around 23 January 2024; and
• Upon closing of the Proposed Business Combination, Critical Metals is expected to be a leading lithium mining company and intends to list its shares on Nasdaq under the symbol “CRML.”

European Lithium shareholders approved the Transaction on 20 January 2023. A Special Meeting of Sizzle stockholders to approve the Transaction is scheduled be held in virtual format on or around 23 January 2024.

Following completion of the Transaction, EUR will be issued US$750 million worth of ordinary shares in CRML.

Tony Sage, Chairman of EUR, said, “The Company is excited to announce the SEC has declared the F-4 effective. We look forward to the completion of the Transaction and the proposed listing on the NASDAQ that offers increased access to US capital markets as the Critical Metals team works to successfully commercialise Wolfsberg. The listing on NASDAQ is also expected to create a significant increase in shareholder value.”

ASX EUR Development Plan

The Company has previously advised that it will shortly commence the initial work program at its Austrian Lithium Projects (refer to EUR announcement dated 21 June 2023), consisting of 245 exploration licenses covering a total area of 114.6 km² located approximately 70km north of the Company’s Wolfsberg Project. The licenses cover ground that is considered prospective for lithium occurrences and initial surface sampling showing 3.98% Li₂O.

For full details of the Austrian Lithium Project, please refer to EUR announcement dated 21 June 2023, “European Lithium Acquires Austrian Lithium Projects after DD Sampling Shows 3.98% Li₂O”. The exploration results and geology have been prepared by a Competent Person in accordance with the requirements of the JORC Code (2012). The Competent Person’s Statement(s) are found in the section of this ASX release titled “Competent Person. European Lithium confirms that it is not aware of any new information or data that materially affects the information included in that release. All material technical parameters underpinning the estimates in that ASX release continue to apply and have not materially changed.

The Company will also advance its key Ukrainian lithium assets as political events allow. These assets will be the key focus of the company going forward.

European Lithium Post NASDAQ Listing

Following completion of the Transaction, the Company will have an interest in the following projects and investments:

• CRML – As outlined above, the Company will be issued US$750 million worth of ordinary shares in CRML upon closing of the Transaction.
• Listed Investments – The Company holds:
  • 1,180,256,849 shares (representing a 11.3% interest) in Cyclone Metals Ltd (ASX: CLE). CLE has recently acquired 100% of the Iron Bear magnetite iron ore project located in the Labrador trough region of Canada. In its latest ASX release dated 14 December 2023 CLE announced a concentrate produced by metallurgical test work of 70.65% Fe with a silica level of only 1.2%.
  • 15,000,000 shares in Cufe Ltd (ASX: CUF). CUF currently exports iron ore from its Wiluna deposit and has Copper Lithium and Niobium tenements in various stages of exploration.
• Unlisted Investments – European Lithium holds a 7.5% equity interest in Tanbreez Mining Greenland A/S, which holds an exploitation permit for rare earths in Greenland.
• Austrian Lithium Exploration Assets – 100% of the rights, title and interest in the Bretstein- Lachtal, Klementkogel and Wildbachgraben projects covering an area of 114.6 km² in total, which are prospective for lithium in Austria.

In addition to the above, the Company continues to review project opportunities in the mineral exploration area as part of its growth strategy.

Click here for the full ASX Release

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