Critical Metals Corp. (Nasdaq: CRML) has provided an update on its proposed acquisition of European Lithium Ltd., confirming amendments to the transaction structure while maintaining the original commercial terms and strategic rationale of the deal.
The changes primarily relate to transaction mechanics and shareholder administration. Under the revised arrangements, smaller European Lithium shareholders and optionholders holding 50,000 securities or fewer will be able to participate in a sale facility, allowing the Critical Metals shares they would otherwise receive to be sold on market, with the proceeds paid in cash.
The companies have also agreed that Critical Metals shares issued as consideration will be delivered directly to eligible European Lithium investors, replacing the previously proposed CHESS Depositary Interest (CDI) structure.
Importantly, the amendments do not affect the agreed consideration, key completion conditions or the strategic objectives of the acquisition.
European Lithium is expected to distribute its Scheme Booklet, including an Independent Expert’s Report, in late July or early August, ahead of the shareholder and optionholder votes required under Australian law.
Subject to the necessary approvals and final conditions being satisfied, the transaction is currently expected to be completed in September 2026.
Once completed, existing European Lithium shareholders are expected to own approximately 41% of the combined company, further strengthening Critical Metals’ position as it advances the Tanbreez rare earth project in Greenland and its broader critical minerals strategy.
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