European Lithium sells 3.03 million shares of CRML

Core Insights - European Lithium (EUR) has sold an additional 3.03 million shares of Critical Metals Corp (CRML) to a US institutional investor, generating approximately $50 million (A$76 million) in net proceeds [1] - CRML has completed a private placement, raising an equivalent amount of $50 million in equity funding to develop the Tanbreez Rare Earth Project in Greenland [1][2] - EUR holds 53,036,338 shares in CRML, valued at around US$1.2 billion (A$1.85 billion) based on the US$22.72 closing price on Nasdaq, indicating a significant discrepancy between EUR's market capitalization and its shareholding in CRML [4][5] Financial Transactions - The securities purchase agreement states that CRML will issue 1.47 million ordinary shares at a price of $16.50 per share, totaling $50 million [2] - Pre-funded warrants have been issued, allowing for the acquisition of approximately 1.56 million additional shares [2] Strategic Developments - EUR's executive chairman, Tony Sage, highlighted the capital raising by CRML as a sign of continued investor confidence in the US markets [3] - The company is aware of the market capitalization discrepancy and is executing strategic options to better reflect its intrinsic value, currently holding over $190 million in cash reserves [5]