Critical Metals finishes purchase of European Lithium, issues 90.5 million shares
Critical Metals Corp. announced that it has closed the purchase of European Lithium Limited, making the Australian miner a wholly owned subsidiary. The deal was settled by issuing roughly 90.5 million new CRML shares to European Lithium shareholders and option holders. After the transaction the company reported a cash balance of about $264.5 million. European Lithium’s shares were suspended on the ASX on October 27 and are slated for delisting, while the newly issued CRML shares are expected to start trading on Nasdaq on November 6, 2026.
Why it matters
The issuance of new shares expands the total share count, which may dilute existing shareholders, while the cash balance provides liquidity for future projects. The market reacted with a 15.38% drop in CRML’s share price on the day of the announcement.
Key facts
- 1The acquisition was completed on November 5, 2026. stocktitan.net
- 2Critical Metals issued 90,539,994 new ordinary shares as consideration for the deal. stocktitan.net
- 3The company’s cash balance after closing was approximately $264.5 million. mining.com
- 4European Lithium became a wholly owned subsidiary of Critical Metals. stocktitan.net
- 5The newly issued CRML shares are scheduled to begin Nasdaq trading on November 6, 2026. stocktitan.net
- 6Trading of European Lithium shares on the ASX was halted on October 27, 2026, and delisting is planned for November 6, 2026. stocktitan.net
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.