Critical Metals Corp. (NASDAQ: CRML), a leading critical minerals exploration and mining company, today announced that the schemes of arrangement for its proposed acquisition of European Lithium Limited have become legally effective.
Under the proposed transaction, Critical Metals Corp would acquire 100% of the issued share capital of European Lithium and all of European Lithium’s listed options by way of Court-approved schemes of arrangement under Part 5.1 of the Australian Corporations Act 2001 (Cth), comprising a scheme between European Lithium and its shareholders and a scheme between European Lithium and the holders of its listed options. The consideration payable under each Scheme is to be satisfied by the issue of new ordinary shares in Critical Metals Corp.
CRML shares grabbed 56 cents, or 8.8%, to $6.94.
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