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European Lithium becomes a substantial shareholder in Cervantes Corporation

European Lithium remains focused on the Wolfsberg Lithium Project.
European Lithium becomes a substantial shareholder in Cervantes Corporation
Cervantes shares last traded at $0.009

European Lithium Ltd (ASX:EUR) is now a substantial shareholder in Cervantes Corporation Ltd (ASX:CVS), holding 25 million shares for a 7% stake.

European Lithium gained the stake following the sale of its Paynes Find Gold Project in Western Australia to Cervantes.

In regard to the cash component of the consideration, European Lithium has received $220,000 to date, with two instalments of $25,000 to be paid on or before 15 January 2018 and 28 February 2018.

The final instalment of $230,000 is to be paid on or before 31 March 2018.

European Lithium's main focus remains the Wolfsberg Lithium Project in Austria.

READ: European Lithium attracts first research from Europe

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