Critical Metals (CRML) said Monday that it will acquire all of the issued shares and listed options of Australian-based mining exploration and development company European Lithium.
Under the terms of the deal, European Lithium shareholders will receive 0.035 shares of Critical Metals for each European Lithium share they own. The number of shares they get will depend on the agreed share swap rate, the exercise price of their options, and the average Critical Metals share price over the 20 trading days before the deal closes.
The acquisition is expected to close in Q2.
Shares of Critical Metals were up 1% in recent Monday premarket activity.
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