Stocks of the Hour: European Lithium, Matador Mining, NOVONIX

European Lithium (ASX:EUR) has today entered into a business combination agreement with Sizzle Acquisition Corp., a US special purpose acquisition company. The company will combine their European lithium assets with the $US159m NASDAQ cash box. In consideration for the Transaction, EUR will be issued US$750 million worth of ordinary shares in Critical Metals (approximately 73.52 million shares). Upon the closing of the Transaction, EUR will be issued US$750 million worth of ordinary shares in Critical Metals, which represents an approximate 80% ownership interest in the combined entity. Shares are trading 11.1 per cent higher at 10 cents.

Matador Mining  (ASX:MZZ; FSE:MA3) announced this morning a private, non-brokered $3.6 million strategic investment by B2Gold Corp. representing approximately 9.9% of Matador’s outstanding Shares (on an undiluted basis). The proceeds from this strategic investment will be allocated to advancing the Company’s exploration program in Newfoundland, Canada. Matador’s Managing Director and CEO, Sam Pazuki commented: “We are very pleased to welcome B2Gold’s strategic investment in Matador and look forward to their partnership in advancing our exploration program in Newfoundland. B2Gold’s investment demonstrates their confidence in the gold potential of our extensive tenement package, our greenfields exploration strategy with our systematic approach to discovery and the team we have in place to create long-term shareholder value.” Shares are trading 10.5 per cent higher at 10 cents.

NOVONIX (ASX:NVX) Following the announcement last week that it had been successful in its application for a US Government grant of US$150 million, NOVONIX today announced the appointment of two new directors to their board, Mr Dan Akerson and Mr Ron Edmonds. Mr. Akerson had previously served as an executive and director for multiple Fortune 100 companies, including as the former Chairman and Chief Executive Officer of General Motors from 2010 to 2014. Mr. Edmonds is a highly accomplished finance executive, currently serving as Chief Accounting Officer at Dow, a $55 billion global materials science company. NVX Chairman Admiral Robert Natter commented: “These new directors will join an already stellar and more diverse Board than what we were only a year ago.” Shares are trading 1.4 per cent higher at $2.99.
 
Copyright 2022 – Finance News Network

Source: Finance News Network