European Lithium Generates $124m from CRML Shares Sale, Increases Cash Reserves to $322m

European Lithium has sold 5m CRML shares for approximately $A124m, increasing its cash reserves to $322m. The company still holds 48m shares in CRML, valued at $1.23bn based on the closing share price of CRML on January 20, 2023. Tony Sage, Executive Chairman of European Lithium, commented that the transaction will further strengthen the company's balance sheet and position it to continue advancing its core projects or return capital to shareholders.