AcquisitionsApr 30, 2026, 08:32 AM
CRML Acquires 50.5% Tanbreez Stake, Now Owns 92.5%; Issues 14.5M Shares
AI Summary
Critical Metals Corp. (CRML) closed the acquisition of the remaining 50.5% interest in Tanbreez Mining Greenland A/S, increasing its total ownership to 92.5%. In connection with the closing, the company issued 14,500,000 shares of its ordinary stock. CRML will now focus on advancing Tanbreez, one of the world's largest heavy rare earth element deposits, to production. Additionally, CRML announced a non-binding letter of intent to acquire European Lithium Ltd., which would consolidate the remaining 7.5% interest and bring Tanbreez ownership to 100%, though this acquisition is not guaranteed.
Key Highlights
- CRML acquired remaining 50.5% interest in Tanbreez Mining Greenland A/S.
- CRML's total ownership of Tanbreez increased to 92.5%.
- Issued 14,500,000 ordinary shares for the acquisition.
- Announced non-binding LOI to acquire European Lithium Ltd. for remaining 7.5% Tanbreez stake.
- Tanbreez is one of the world’s largest heavy rare earth element deposits.
- Company will now focus on advancing Tanbreez to production.