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31.07.2020 – 10:03

European Lithium Limited

EANS-News: European Lithium Limited
Winance Funding Received - ATTACHMENT

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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.
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Company Information

West Leederville - WINANCE FUNDING RECEIVED

European Lithium Limited (ASX: EUR, FRA: PF8, NEX: EUR, VSE: ELI) (EUR or the
Company) is pleased to confirm that it has received the balance of the funding
of A $ 1.0m (before expenses) under the A $ 10m finance facility previously
established with Winance Investment LLC (Winance) (refer ASX Announcement 31
July 2019).

On 5 March 2020, the Company announced that it had agreed to draw down A $ 2.0m
(2,000 convertible notes) under the Winance facility (Tranche 2).

The notes were issued on 10 March 2020. However Tranche 2 funding was delayed
due to COVID-19, and as a result, the notes were held in escrow pending receipt
of funds. On 2 June 2020, the Company announced that it had received A $ 1.0m
under Tranche 2. The Company is very pleased to confirm that the final A $ 1.0m
has been received under Tranche 2 and as a result the final 1,000 notes have
been released from escrow.

Tony Sage, Chairman, commented "We are pleased that Winance are continuing to
support the Wolfsberg project. We have now drawn down $ 4m of the $ 10m
facility. We are also pleased that Winance continue to hold their shares in EUR
".

Waqas Ibrahim, CFO of Winance, commented "We are as excited now as we were 18
months ago when we first invested in the Wolfsberg Lithium Project. We are
committed to provide continuous support to European Lithium over a long-term ".

Full terms of the notes are set out in the Company's notice of annual general
meeting announced 8 October 2019.

This announcement has been authorized for release to the ASX by the Board of the
Company.

Tony Sage Non-Executive Chairman European Lithium Limited
- END -



Further inquiry note:
info@europeanlithium.com

end of announcement                         euro adhoc
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Attachments with Announcement:
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http://resources.euroadhoc.com/documents/10207074/5/10531478/1/2092505.pdf 
issuer:       European Lithium Limited
              Harrogate Street 32
              AU-WA6007 West Leederville
phone:        +61 8 6181 9792
FAX:
mail:      ir@europeanlithium.com
WWW:       www.europeanlithium.com
ISIN:         AU000000EUR7
indexes:
stockmarkets: Frankfurt, Wien
language:     English