Summary not available.
Richmond Minerals Inc. has executed a binding Heads of Agreement to sell its Austrian Lithium Projects to European Lithium Limited. The acquisition includes the Bretstein-Lachtal, Klementkogel, and Wildbachgraben Projects. European Lithium will pay Richmond $250,000 in cash, issue 2,000,000 shares at $0.07 each, and provide 2,000,000 unlisted options at $0.12 each, expiring in three years. The completion of the acquisition is conditional on due diligence, obtaining necessary approvals, and incorporation of a new Austrian entity, with settlement expected by July 7, 2023. The release contains forward-looking information with associated risks and uncertainties.
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.
Summary not available.