Why the Meeting for European Lithium's Business Merger Postponed?

European Lithium's Strategic Move: NASDAQ Listing and the Critical Metals Corp Transaction

European Lithium Limited, a frontrunner in the lithium exploration sector, is set to reshape its future with a strategic business combination and a highly anticipated NASDAQ listing. This move is poised to mark a significant milestone in the company's journey towards becoming a leading player in the lithium market.

Rescheduled Special Meeting: A Key Step in the Business Combination

The Special Meeting of Sizzle Acquisition Corp’s stockholders, crucial for approving the business combination with Critical Metals Corp (CRML), has been rescheduled to 6 February 2024. The postponement arises as European Lithium and Sizzle assess potential investments from strategic parties in relation to the Transaction.

Eligibility for Voting

Sizzle’s stockholders on record as of 26 December 2023 are entitled to vote at the rescheduled meeting, now set to take place at 9:00 a. m. Eastern Time.

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The Wolfsberg Lithium Project and the Formation of Critical Metals Corp

On 26 October 2022, European Lithium announced its plan to merge its wholly-owned Wolfsberg Lithium Project with Sizzle. This union will culminate in the formation of a new entity, Critical Metals Corp, dedicated to lithium exploration and development.

NASDAQ Listing Underway

The newly formed Critical Metals is expected to be listed on NASDAQ under the symbol “CRML”, marking a significant step for European Lithium in gaining a foothold in the global financial markets.

The Transaction: Anticipated Completion of the Transaction

The completion of the Transaction is expected to occur promptly following the approval at the Special Meeting of Sizzle stockholders, contingent upon fulfilling other closing conditions outlined in the business combination agreement.

Share Issuance Post-Transaction

Following the completion of the Transaction, European Lithium is set to be issued US$750 million worth of ordinary shares in Critical Metals Corp, significantly enhancing its financial and operational capacity.

Lifting the Trading Halt and Looking Forward

This announcement, approved by the Board of Directors of European Lithium, aims to lift the trading halt requested on 29 January 2024. The strategic steps undertaken by European Lithium, including the business combination with Sizzle and the formation of Critical Metals Corp, are set to propel the company into a new era of growth and development in the lithium sector.

With the NASDAQ listing on the horizon, European Lithium is positioning itself as a key player in the global lithium market, leveraging the potential of the Wolfsberg Lithium Project and embracing new opportunities for expansion and collaboration.

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