Ann: Austrian Lithium Projects, page-2

Looks like we have an in situ merger with Sizzle too with regards to Weinebene..



Austrian Lithium Projects EV Resources Limited (ASX:EVR) (“EVR, the “Company” advises that in respect of its Austrian Lithium Projects (Weinebene and Easter Alps Projects) which are held 80% by the Company and 20% by European Lithium Limited (ASX:EUR) (“EUR”, it has waived its first right of refusal to acquire EUR’s 20% of the Austrian Lithium Projects. EUR has subsequently announced the merger of its assets with NASDAQ listed Sizzle Acquisition Corp., a US special purpose acquisition company (NASDAQ:SZZL) (“Sizzle”.

EVR holds a first right of refusal to the acquisition of EUR’s 20% interest in the Weinebene and Eastern Alps Projects in the event of a sale to a third party. EVR has chosen not to exercise its first right of refusal and EUR has today announced the merger of its assets with Sizzle as attached. The merger provides for the development of EUR’s Wolfsberg Project which is located immediately adjacent to the Weinebene and Eastern Alps Projects. The proximity of the Weinebene and Eastern Alps Projects to EUR’s Wolfsberg Project creates substantial optionality and potential synergistic development and production scenarios for both parties.

EVR has previously entered into a Collaboration Agreement with EUR which includes the establishment of a Technical Advisory Committee to enhance the projects for the purpose of jointly collaborating in connection with the Weinebene and Eastern Alps Projects and sharing information to identify the best options to advance those assets and operations. This will continue and includes making recommendations for exploration programs, budgets and development scenarios in relation to the assets and operations.


TCG