Critical Metals Corp. (Nasdaq: CRML) has provided an update on its proposed acquisition of European Lithium Ltd., with the transaction progressing through the Australian court and regulatory approval process.
European Lithium has lodged its Scheme Booklet with the Australian Securities and Investments Commission (ASIC), marking an important milestone toward completing the acquisition.
The proposed transaction would see Critical Metals acquire all issued shares and listed options of European Lithium through a court-approved scheme of arrangement.
The next key step will be a first court hearing scheduled for 15 September 2026, where European Lithium will seek approval to convene meetings of shareholders and optionholders to vote on the transaction.
Subject to court approval, the Scheme Meetings are expected to be held in mid-October 2026, with implementation of the acquisition currently anticipated in early November 2026.
If completed, the transaction will bring European Lithium and its portfolio of assets into the Critical Metals group as the company continues to build its critical minerals platform.
Mike Hanson, board director of Critical Metals Corp who leads the Special Committee responsible for this transaction, commented, “Lodgement of the Scheme Booklet with ASIC is an important step forward and reflects the steady progress both companies are making toward completion. We look forward to the Court process and to bringing European Lithium and its assets fully into the CRML group.”
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