European Lithium (ASX:EUR) has been voluntarily suspended from trading on the Australian Securities Exchange (ASX) today (25 October 2023) pending the release of an announcement in connection with the NASDAQ merger transaction.
The $96 million market capitalisation company in October 2022 entered into a business combination agreement with Sizzle Acquisition Corp. (NASDAQ:SZZL), a publicly traded special purpose acquisition company.
On 23 December 2022, the company advised that the Form F-4 Registration Statement of Critical Metals Corp had been filed with the US Securities and Exchange Commission (SEC) in connection with the transaction. Since the initial filing, European Lithium had lodged F-4 Amendment No 1 with the SEC on 14 February 2023, F-4 Amendment No 2 with the SEC on 30 March 2023, F-4 Amendment No 3 with the SEC on 5 May 2023 and most recently F-4 Amendment No 4 with the SEC 7 August 2023.
European Lithium shareholders approved the transaction on 20 January 2023.
Upon the closing of the deal, the company will be issued US$750 million worth of ordinary shares in CRML.
Following completion of the merger, European Lithium will also have an interest in projects and investments including CCyclone Metals (ASX: CLE), which acquired 100% of the Block 103 magnetite iron ore project located in the Labrador trough region of Canada, as well as an interest in Cufe (ASX:CUF).
Write to Adam Orlando at Mining.com.au
Images: European Lithium
