Sizzle Acquisition Corp Completes Business Combination with Critical Metals Corp.
Sizzle Acquisition Corp. (Nasdaq: SZZL) (“Sizzle”) and European Lithium Ltd (ASX: EUR) (“European Lithium”), a mineral exploration company, today announced that the Business Combination (the “Business Combination”) to form Critical Metals Corp. (“Critical Metals” or the “Company”) has been completed. Critical Metals will be focused on mining key metals and minerals, and producing strategic products that are essential to the future of electrification and next-generation technologies. The Business Combination was approved by Sizzle stockholders on February 22, 2024.
In connection to the completion of the Business Combination, Critical Metals’ ordinary shares will begin trading on Nasdaq under the ticker symbol “CRML” on February 28, 2024. Critical Metals’ Executive Chairman, Tony Sage, and Critical Metals’ CEO, Dietrich Wanke, and the rest of the current management team are expected to continue to lead the Company.
Critical Metals expects to raise significant funds to support the advancement of construction and commissioning for its initial flagship asset, the Wolfsberg Project in Austria (the “Project”), Europe’s first fully permitted lithium mine. The funding includes the previously disclosed subscription agreements that Critical Metals and Sizzle entered into with three accredited PIPE investors to secure a $10 million investment.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the battery economy!
Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Tony Sage, and Critical Metals’ CEO, Dietrich Wanke, said:
We are thrilled to complete our transaction with Sizzle and list Critical Metals as a company focused on supporting the transition to an electric future and next-generation technologies with strategic resources.
“This transaction supports the development of a foundational lithium asset for Europe’s green energy transition on Nasdaq,”
“I want to extend our gratitude to our partners at Sizzle and our European Lithium stockholders who helped us through this journey and for their continued support of our vision. With the funds raised in the process and with access to capital markets in the United States, Critical Metals is now well positioned to become a key supplier for the lithium-ion battery supply chain in Europe. We look forward to advancing the Wolfsberg Project as we prepare to produce strategic lithium products at scale in the coming years.”
Carolyn Trabuco, Director of Sizzle and member of the Board of Directors of Critical Metals Corp. said:
Critical Metals, through its initial flagship asset, the Wolfsberg Lithium Project, addresses a crucial gap in the need for local supply sources of lithium products to support the electric vehicle market and transition to clean energy in Europe.
“The Wolfsberg Project is a strategic hard rock asset and is ideally positioned in the heart of the region’s battery supply chain with easy access to transportation outlets. I am excited for Critical Metals’ future success as a U.S.-listed public company and look forward to continuing to work closely with Tony and the team to execute on the many opportunities in essential metals that are in front of us.”
“In addition to advancing our plans at our Wolfsberg Project, we are also evaluating additional assets across a variety of sectors in the strategic resources space to bring under the Critical Metals banner,” continued Mr. Sage.
Additional information regarding the closing of the Business Combination will be included in a current report on Form 8-K to be filed by Sizzle Acquisition Corp. with the Securities and Exchange Commission.
READ the latest Batteries News shaping the battery market
Sizzle Acquisition Corp Completes Business Combination with Critical Metals Corp. source
