Critical Metals Introduces Sale Facility, Retains Terms for September European Lithium Takeover
CRML•Critical Metals Corp amended implementation mechanics of its proposed European Lithium acquisition, introducing a sale facility for small holders and direct issuance of shares rather than CDIs. The transaction’s commercial terms, including unchanged Scheme consideration and expected September 2026 implementation with European Lithium owning ~41% post-close, remain intact.
1. Amendment Details
Critical Metals and European Lithium entered an amendment deed adjusting implementation mechanics. Holders of 50,000 or fewer shares or options can now sell their consideration on-market via a sale facility and receive net cash, and all issued shares will be delivered directly to securityholders instead of through CDIs.
2. Commercial Terms Unchanged
The agreed Scheme consideration, principal completion conditions and strategic rationale remain unaffected by these amendments. No changes have been made to the purchase price or to the fundamental deal structure initially negotiated between the two companies.
3. Closing Timeline
European Lithium plans to distribute its Scheme Booklet, including an Independent Expert's Report, in late July or early August 2026. Subject to shareholder, optionholder and court approvals, and satisfaction or waiver of conditions precedent, the transaction is expected to close in September 2026.
4. Post-Merger Ownership
Upon closing, existing European Lithium shareholders are projected to hold approximately 41% of the combined company's outstanding common shares. This ownership stake reflects the relative valuation contributions and will shape future governance and shareholder dynamics.
