European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has made further progress towards the completion of its business combination agreement with Sizzle Acquisition Corp and subsequent listing on the NASDAQ.
EUR is combining its wholly owned Wolfsberg Lithium Project in Austria with Sizzle via a newly-formed, lithium exploration and development company named “Critical Metals Corp” which is expected to be listed on NASDAQ under the symbol “CRML”.
Read: European Lithium closes in on Nasdaq listing; secures Wolfsberg financing
Several amendments were lodged after the initial filling of the Form F-4 Registration Statement of Critical Metals Corp (F-4 Registration Statement) with the U.S. SEC on 23 December 2022.
Most recently, F-4 Amendment No 5 was filed with the SEC on 9 November 2023. European Lithium shareholders approved the transaction on 20 January 2023.
Once the F-4 is declared effective by the SEC, the Sizzle Board will convene a shareholding meeting for purposes of, among other things, approving the transaction.
Read: European Lithium doubles Wolfsberg Project footprint on grant of new licences
The transaction is progressing through the approval process and remains subject to SEC and Sizzle shareholder approval.
Upon the closing of the transaction, EUR will be issued US$750 million worth of ordinary shares in CRML.
EUR chairman Tony Sage said: “The company is excited that after a long and exhaustive process we are the final stages in seeking the SEC's approval to list on the NASDAQ.”