European Lithium Ltd (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce that Critical Metals Corp. (Nasdaq: CRML) in an off-market transaction has sold a further 3.85 million CRML shares to a single US institutional investor at US$13 per share (a 12% discount to Fridays closing price of US$14.98) for net proceeds US$50M (approx. $A76m) net proceeds to EUR.
Executive Chairman of European Lithium Tony Sage said, “The recent price increase and the large trading volumes on the Nasdaq shows the demand for CRML shares is huge. The remaining 56 million shares held in CRML, using the $US14.98 closing price on the Nasdaq on Friday, values the Company’s holding at approximately $US854M ($A1.294B), which is well above the current market capitalisation of EUR. The Company’s holding in CRML equates to A$0.89c per EUR share. EUR also holds a direct 7.5% interest in the Tanbreez project and given the current market valuation of CRML ($A2.3bn), this equity interest is very strategic.”.
About European Lithium
European Lithium Limited is an exploration and development stage mining company focused mainly on lithium, rare earth, precious metals and base metals in Austria, Ireland, Ukraine, and Australia.
For more information, please visit https://europeanlithium.com.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, represents one of the world’s largest, rare-earth deposits located in Greenland. Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market.
Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable building block in an expanding geostrategic critical metals portfolio. In addition, Critical Metals owns a 20% interest in prospective Austrian mineral projects previously held by European Lithium Ltd. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, clean energy transition, and next-generation technologies in the western world.
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