Sizzle Acquisition Corp. Announces Approval of Extension of...

Sizzle Acquisition Corp. Announces Approval of Extension of Deadline to Complete Business Combination to Form Critical Metals Corp.

Sizzle Acquisition Corp. (Nasdaq: SZZL) (“Sizzle” or the “Company”), a publicly-traded special purpose acquisition company, announced today that its stockholders have approved an extension of the date by which the Company must consummate an initial business combination from February 8, 2023 to August 8, 2023, or such earlier date as determined by the Company’s Board of Directors (“the “Extension”). The Extension was approved at the special meeting of stockholders held on February 1, 2023 (the “Special Meeting”) and it provides Sizzle with additional time to complete its previously announced proposed business combination (the “Proposed Business Combination”) with European Lithium Ltd (ASX: EUR) (“European Lithium”), a mineral exploration company, to form Critical Metals Corp. (“Critical Metals”).

The Company will deposit an aggregate amount of $200,000 (the “Extension Payment”) into the Company’s trust account for its public stockholders (the “Trust Account”) by February 9, 2023, which enables the Company to extend the period of time it has to consummate the Proposed Business Combination to March 8, 2023, and will deposit the same amount each additional month that is needed for the Company to consummate the Proposed Business Combination until August 8, 2023 (unless the Company’s Board of Directors decides to stop extending the time period earlier than such date).

Proposed Business Combination to Form Critical Metals

Upon closing of the Proposed Business Combination, which is expected to occur in the first half of 2023, Critical Metals is expected to be a leading lithium mining company and intends to list its shares on Nasdaq under the symbol “CRML.” European Lithium will be the largest shareholder of Critical Metals and is expected to continue to trade on the Australian Securities Exchange.