Critical Metals completes merger with European Lithium, gaining full ownership of Tanbreez project
Critical Metals Corp. finalized its acquisition of European Lithium Limited on November 5, 2026, securing 100% control of the Tanbreez rare‑earth project in Greenland. The deal left the company with about $264.5 million in cash and roughly 194.2 million ordinary shares outstanding. To close the transaction, Critical Metals created approximately 90.54 million new shares, exchanging roughly 0.045 of a Critical Metals share for each European Lithium share. The firm plans to start production at Tanbreez in late 2028, subject to permitting and financing.
Why it matters
The merger increases Critical Metals' exposure to rare‑earth supplies, potentially enhancing its valuation as demand for dysprosium and terbium grows. The cash balance of $264.5 million provides liquidity for development and financing of the Tanbreez project.
Key facts
- 1The acquisition was completed on November 5, 2026. investing.com
- 2Critical Metals now holds approximately $264.5 million in cash after the merger. investing.com
- 3The company has 194,219,631 ordinary shares outstanding, excluding 45,536,338 non‑voting shares held by European Lithium. investing.com
- 4Critical Metals issued about 90,539,994 new shares, exchanging roughly 0.045 of a Critical Metals share for each European Lithium share. investing.com
- 5Ownership of the Tanbreez project rose from 42% at the start of 2026 to 100% after the merger. investing.com
- 6First ore production at Tanbreez is targeted for late 2028 to early 2029, pending permits and financing. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.