European Lithium to go public though deal with SPAC Sizzle Acquisition

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• European Lithium (OTCQB:EULIF) agreed to a deal with SPAC Sizzle Acquisition (NASDAQ:SZZL) to take the lithium miner public in a deal that will value the combined company about $972 million.
• The companies will combine and the new entity will be called Critical Metals Corp., according to a statement. Critical Metals will own European Lithium’s Wolfsberg Lithium Project located in Wolfsberg, Austria, which is expected to be the first licensed lithium mine in Europe.
• Critical Metals is expected to be listed on Nasdaq under the symbol “CRML,” which is forecast to occur in the first half of next year.
• Bloomberg earlier reported news about talks between the SPAC and European Lithium.
• In August European Lithium said it signed a memorandum of understanding with BMW AG to supply battery-grade lithium hydroxide.