Expanding in Europe
European Lithium chairman Tony Sage said: “The acquisition shows our commitment to continue expanding in the European lithium sector and illustrates our capability to identify and secure ground in highly prospective lithium provinces, leveraging our world-class exploration and project development expertise, combined with a strong balance sheet.
“This also demonstrates the value of our investment in Critical Metals Corp. As we move forward, we can utilise the investment again and again without depleting our cash reserves.”
European Lithium now holds 67,788,383 ordinary shares in Critical Metals and is the largest stockholder with 83.03% of issued capital.
As of April 19, 2024, and based on Critical Metals’ closing share price of US$8.10 per share, European Lithium’s investment in Critical Metals is valued at US$549,085,902 (A$856.6 million).
