Australia's European Lithium hits over 6-month high on Sizzle Acquisition deal

US Critical Metals

26/10/2022 01:59

** Shares of European Lithium  EUR.AX  surge as much as
33.3% to A$0.12, their highest since April 11
    ** Co says it will merge with Sizzle Acquisition Corp
 SZZL.O  to launch a lithium exploration firm and also sell its
stake in the Wolfsberg lithium project  urn:newsml:reuters.com:*:nL4N31Q4OU
    ** EUR will be issued shares worth $750 mln, equal to about
an 80% stake in the new lithium exploration co, Critical Metals
Corp
    ** Says Critical Metals Corp will be listed on the Nasdaq 
    ** Stock set to mark its best session since Aug. 5, if gains
hold
    ** Volumes are about 13 times their 30-day average of ~4 mln
shares 
    ** As of last close, EUR stock down 30.8% this year
 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))