Critical Metals Corp (NASDAQ:CRML) has executed a binding scheme implementation deed to acquire all shares in European Lithium (ASX:EUR).
In April 2026, the company signed a letter of intent to acquire European Lithium for US$835 million ($1.16 billion). European Lithium shareholders will receive 0.035 shares of Critical Metals for each European Lithium share held.
Completion of the deal is subject to completing numerous conditions. The transaction is anticipated to be completed in H2 2026.
Tony Sage, CEO of Critical Metals, says the market reaction to the initial deal was “very positive”.
“This is a logical transaction that has a strong strategic rationale and offers clear, material benefits to Critical Metals shareholders,” Sage says.
“I am delighted to see Tanbreez’s ownership consolidated under a single legal owner and for Critical Metals to be very well funded so that Tanbreez can be rapidly advanced into a strong rare earth market for the benefit of shareholders and other stakeholders.
“I strongly believe that upon completion of this transaction, Critical Metals will be uniquely positioned as a leading heavy rare earths developer that benefits from owning 100% of the highly strategically Tanbreez Project, as well as having peer-group leading a strong balance sheet, a diversified global shareholder base, and a highly liquid stock on the Nasdaq in the US.”
The Tanbreez Project is one of the world’s largest rare earths deposits, located in Southern Greenland.
Critical Metals also owns the Wolfsberg Lithium Project in Austria, which is a fully permitted mine and strategically located with access to established road and rail infrastructure.
Critical Metals Corp is a mining developer focused on critical minerals needed for electrification and next-generation technologies for Europe.
Write to Aaliyah Rogan at Mining.com.au
Images: Critical Metals Corp
