European Lithium (ASX:EUR) Announces CRML’s US$22.5M Funding Raise
Investment Details
European Lithium Limited (ASX: EUR) announced that Critical Metals Corp. has completed a US$22.5 million private placement. The funding includes approximately 4.5 million ordinary shares at US$5.00 per share and warrants to purchase additional shares. This investment strengthens CRML’s balance sheet and accelerates development of the Tanbreez Rare Earth Project in Greenland and the Wolfsberg Lithium Project in Austria.
Executive Comments
Tony Sage, Chairman of EUR, commented: “It’s exciting that EUR holding in CRML has been underpinned by this placement. At US$5 per share, EUR’s holding in CRML at the placement price is worth approximately $600 million which represents $36.66 per share. We look forward to welcoming the support of our new investors with deep experience in the metals and mining sector, and delivering long-term value to all of our shareholders.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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