EANS-News

European Lithium Limited / Draw on existing finance facility and board changes - Seite 2

As a result the maximum number of shares that may be issued on conversion of the
notes is 36,363,636 shares.

The issue is made using the Company's existing capacity under Listing Rule 7.1
and without shareholder approval. To facilitate the drawdown and prior to
agreeing it, the Company and H120 AG varied the agreement between them
(announced 30 December 2019) by relieving the Company of its obligation to issue
2 million options ($0.10 expiring 30 June 2020) and 30 million options ($0.15
expiring 30 December 2020).

Board Changes

The Company is pleased to advise that Mr Tim Turner is appointed as a Non-
Executive Director of the Company to commence on 4 March 2020.
Mr Turner is the senior partner of accounting and advisory Firm, HTG Partners.
Mr Turner heads the audit and assurance division and is responsible for the
issue of audit opinions for self-managed superannuation funds through to full
reporting entities. He also has in excess of 30 years' experience in business
development, structuring and general business consultancy.

Mr Turner has a Bachelor of Business Degree (Accounting), is a Registered
Company, SMSF and Organisation Auditor, and a Chartered Tax Advisor.
Mr Turner also sits on the Board of Cape Lambert Resources Limited (ASX: CFE).

Mr Stefan Müller has resigned and the Board would like to take this opportunity
to thank Stefan for his service to the Company since his appointment.

On the board changes, Tony Sage, Chairman, commented "We're extremely pleased to
have Tim join us and look forward to welcoming him to our board. Tim has many
years' experience on listed company boards and has strong industry knowledge."

"I would like to express my gratitude to Stefan for his work and commitment to
the Company, particularly in respect to the Company's exposure in the German and
Austrian markets."

This announcement is intended to lift the trading halt requested on 2 March
2020.

This announcement has been authorised for release to the ASX by Mr Tony Sage,
European Lithiums Non-Executive Chairman.

Tony Sage
Non-Executive Chairman



Further inquiry note:
[e-mail]

end of announcement euro adhoc
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issuer: European Lithium Limited
Harrogate Street 32
AU-WA6007 West Leederville
phone: [phone]
FAX:
mail: [e-mail]
WWW: www.europeanlithium.com
ISIN: AU000000EUR7
indexes:
stockmarkets: Wien, Frankfurt
language: English

Additional content: https://www.presseportal.de/pm/131952/4538086
OTS: European Lithium Limited