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European Lithium Ltd has signed a non-binding Memorandum of Understanding (MoU) with Obeikan Investment Group to establish a joint venture for a hydroxide plant in Saudi Arabia. This venture aims to optimize operations for the Wolfsberg Lithium Project in Austria, potentially resulting in significant energy savings. The proposed combination with Sizzle Acquisition Corp will culminate in the formation of Critical Metals Corp, expected to list on Nasdaq under symbol 'CRML' in the first half of 2023, possessing a majority stake in the Project and additional Austrian ventures.
European Lithium Ltd has signed a binding long-term lithium offtake agreement with BMW to supply battery-grade lithium hydroxide from its Wolfsberg Lithium Project in Austria. BMW will make a
Critical Metals Corp. has announced a business combination with Sizzle Acquisition Corp. (NASDAQ: SZZL) and European Lithium Ltd (ASX: EUR). This merger aims to create a leading lithium mining company by acquiring the Wolfsberg Lithium Project and a 20% stake in additional Austrian projects. Upon completion, the newly formed entity will be listed on NASDAQ under the ticker 'CRML' in the first half of 2023. European Lithium will be the largest shareholder of Critical Metals.
Critical Metals Corp., formed through a merger between Sizzle Acquisition Corp. and European Lithium, will own the Wolfsberg Lithium Project in Austria, projected to be Europe’s first licensed lithium mine. The mine aims to produce approximately 10,500 metric tons of lithium concentrate annually by 2025, enough to power around 200,000 electric vehicles. A key MOU with BMW AG is expected to create a substantial direct OEM pre-pay in the lithium sector. The business combination has a pro forma enterprise value of approximately $838 million.
Enspira has appointed Dan Lee as its first Chief Financial Officer. With over 20 years of experience in finance and investment, Lee aims to drive the company's growth by expanding existing businesses and launching technology offerings. His previous roles include CFO of RiskSpan and managing partner at Mission 8, where he was involved in early investments in Enspira. This strategic hire positions Enspira to attract growth capital necessary for its ambitious goals while leveraging Lee's knowledge of investor expectations in a competitive landscape.
Sizzle Acquisition Corp. (NASDAQ: SZZLU) announced the closing of its upsized initial public offering, raising $155 million by offering 15,500,000 units at $10.00 each, including 2,000,000 units from the underwriter's over-allotment. Each unit comprises one share of common stock and a half warrant, with the warrants exercisable at $11.50 per share. The units began trading on the Nasdaq on November 4, 2021. Sizzle aims to merge with businesses in diverse sectors, particularly focusing on food and beverage, hospitality, retail, and real estate.
Sizzle Acquisition Corp. announced the pricing of its upsized initial public offering (IPO) of 13,500,000 units at $10.00 per unit. Trading on Nasdaq under the ticker symbol 'SZZLU' begins on November 4, 2021, with the offering expected to close on November 8, 2021. Each unit comprises one share of common stock and one-half of a redeemable warrant. Sizzle, a blank check company, plans to focus on mergers within the restaurant, hospitality, and related sectors. Cantor Fitzgerald is the sole book-runner for the offering, with an option for underwriters to purchase additional units.
