European Lithium Ltd (ASX:EUR) has received a vote of confidence from its non-executive director Stefan Müller who has purchased 200,000 shares through on-market trades.
Müller acquired the shares for a value of around 12 to 13 cents each resulting in a total purchase value of $25,000.
The purchase increase Müller’s total holding in the company to 850,000 shares.
READ: European Lithium aims to bank on European interest as it mulls primary Vienna Stock Exchange listing
Müller was appointed to the board in October 2017 after playing a key role in helping European Lithium make history as the first Australian company to be admitted to the Vienna Stock Exchange (VSE).
Since the VSE listing, the percentage of European shareholders on the register has increased substantially.
READ: European Lithium secures up to $10 million to fast-track Wolfsberg
Furthermore, earlier this month, European Lithium secured a $10 million finance facility to fast-track the completion of a definitive feasibility study (DFS) at its Wolfsberg Lithium Project in Austria.
Notably, the financing facility entered into with MEF I, L.P. ensures the DFS process is fully funded.
With negotiations ongoing to secure a European strategic partner, the funding provides flexibility for potential partnership structures and alternative funding methods.