WASHINGTON–(BUSINESS WIRE)–Sizzle Acquisition Corp. (Nasdaq: SZZL), a publicly-traded special purpose acquisition company, announced today that its stockholders have approved an extension of the date by which the Company must consummate an initial business combination from February 8, 2023 to August 8, 2023, or such earlier date as determined by the Company’s Board of Directors. The Extension was approved at the special meeting of stockholders held on February 1, 2023 (the “Special Meeting”) and it provides Sizzle with additional time to complete its previously announced proposed business combination (the “Proposed Business Combination”) with European Lithium Ltd (ASX: EUR), a mineral exploration company, to form Critical Metals Corp.
The Company will deposit an aggregate amount of $200,000 (the “Extension Payment”) into the Company’s trust account for its public stockholders (the “Trust Account”) by February 9, 2023, which enables the Company to extend the period of time it has to consummate the Proposed Business Combination to March 8, 2023, and will deposit the same amount each additional month that is needed for the Company to consummate the Proposed Business Combination until August 8, 2023 (unless the Company’s Board of Directors decides to stop extending the time period earlier than such date).
Proposed Business Combination to Form Critical Metals
Upon closing of the Proposed Business Combination, which is expected to occur in the first half of 2023, Critical Metals is expected to be a leading lithium mining company and intends to list its shares on Nasdaq under the symbol “CRML.” European Lithium will be the largest shareholder of Critical Metals and is expected to continue to trade on the Australian Securities Exchange.
About Critical Metals Corp.
At the closing of the Proposed Business Combination, announced on October 24, 2022, between EUR BVI, a wholly owned subsidiary of European Lithium, and Sizzle, Critical Metals is expected to be a leading lithium mining company. Critical Metals is expected to own the Wolfsberg Lithium Project, as well as a 20% interest in additional Austrian projects currently held by European Lithium Ltd. For more information, please visit https://criticalmetalscorp.com/.
About European Lithium Ltd
European Lithium is a mineral exploration and development company, which owns the Project located in Carinthia, 270 km south of Vienna, Austria, via its wholly owned subsidiary, EUR BVI. European Lithium’s primary listing is on the Australian Securities Exchange (ASX: EUR) and it is also listed in Frankfurt (FRA: PF8) and USA (OTC-QB: EULIF). The Project is strategically located in Central Europe with access to established road and rail infrastructure to distribute lithium products to the major lithium consuming countries of Europe. For more information, please visit https://europeanlithium.com/.
About Sizzle Acquisition Corp.
Sizzle is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. Sizzle is led by Chairman and CEO Steve Salis and Vice Chairman Jamie Karson. In addition, Sizzle’s management team is comprised of: Daniel Lee; board of directors, comprised of: Steve Salis, Jamie Karson, Carolyn Trabuco, Karen Kelley, David Perlin and Warren Thompson; and board advisors, comprised of: Rick Camac and Geovannie Concepcion. For more information, please visit https://sizzlespac.com/home/default.aspx.
