According to preliminary agreements, the acquisition was to take place if European Lithium Ukraine wins the necessary court cases and retains the right to develop two lithium deposits, but the parties agreed to close the deal at the end of 2023.
As a result of the transaction, European Lithium Limited became the sole owner of European Lithium Ukraine instead of Mikhail Zhernov, and Anthony Sage became the beneficiary. Zhernov remains in the top management of European Lithium.
Compensation for licenses for the Dobra and Shevchenkovskoye fields will be paid subject to their receipt. Back in the summer of 2023, the chairman of the board of European Lithium, Tony Sage, said that the company no longer lays claim to the Shevchenkovskoye field - it is too close to the front line.
LLC "European Lithium Ukraine" (formerly Petro-Consulting) was founded in April 2010 with an authorized capital currently amounting to UAH 340,200.
