European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has welcomed the declaration by the US Securities and Exchange Commission (SEC) – the US equivalent of the Australian Securities and Investment Commission (ASIC) – on the effectiveness of Critical Metals Corp's registration statement on Form F-1.
EUR holds large stake
European Lithium shares Critical Metals' vision to become a key supplier for the lithium-ion battery supply chain in Europe.
The company holds 67,788,383 ordinary shares in Critical Metals, representing an 83.03% stake.
Based on Critical Metals’ closing share price of US$11.14 per share as of May 22, European Lithium's investment is valued at US$755,162,587 (A$1,140,295,506).
This valuation is subject to fluctuations in Critical Metals’ share price.
Future success
European Lithium chair Tony Sage said: “We are excited that another huge milestone has been met and look forward to the future success of CRML.
“We are also extremely pleased that the market capitalisation of CRML has on average traded at A$1.3 billion since listing.”
The registration statement, which registers the offer and sale of ordinary shares issued by CRML, was filed in connection with CRML’s recently completed business combination with Sizzle Acquisition Corp, which closed on February 28.
The registration statement registers the offer and sale of ordinary shares issued by CRML.
The SEC’s declaration does not signify its approval or an opinion on the merits of the registration statement or the offering.
About Critical Metals
Critical Metals Corp is a leading mining company focused on extracting critical metals and minerals and producing strategic products essential for electrification and next-generation technologies in Europe and its partners.
Its flagship asset is the Wolfsberg Lithium Project, located in Carinthia, 270 kilometres south of Vienna, Austria.
The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically situated with access to established road and rail infrastructure, poised to become a major producer of key lithium products to support the growing demand for electric vehicles (EVs) and Europe's burgeoning lithium-ion battery supply chain.
Critical Metals owns a 20% interest in prospective Austrian mineral projects previously held by European Lithium Ltd (ASX:EUR, OTCQB:EULIF).