New York, October 22 ( GLOBE NEWSWIRE ) – Critical Metals Corp. (Nasdaq ticker: CRML, hereinafter referred to as “Critical Metals Corp” or “the Company”) announced today that the shareholders and option holders of European Lithium Limited (ASX ticker: EUR, Frankfurt ticker: PF8, OTC ticker: EULIF, hereinafter referred to as “European Lithium”) voted in favor of the company's proposed acquisition of European Lithium at the general meeting of shareholders held on October 22, 2026, in West Sydney, Western Australia, as well as at the shareholders' and option holders' meeting (hereinafter referred to as the “Proposal Meeting”) where votes were cast on related resolutions.
According to the proposed transaction, Critical Metals Corp will acquire 100% of the issued share capital of European Lithium and all of the listed options of European Lithium through an arrangement approved by the court under Part 5.1 of the Australian Company Act 2001 (Federal). The transaction includes a scheme between European Lithium and its shareholders (the “Share Scheme”), as well as a scheme between European Lithium and the holders of its listed options (ASX code: EUROC) (the “Option Scheme”), which together with the Share Scheme are referred to as the “Schemes”. The consideration payable under each scheme will be met by issuing new ordinary shares of Critical Metals Corp.
Voting Results
European Lithium indicates that the resolutions approving both the share plan and the option plan have been passed by the required majority:
- Shareholding plan: 99.96% of the voted shares and 97.22% of the shareholders present and voting in favor
- Option Plan: 100% of the voted shares, as well as 100% of the option holders who attended and voted, expressed their approval.
European Lithium Shareholders also approved the relevant related-party resolutions at the general meeting of shareholders. With these approvals, the conditions required for securities holders to approve such plans have been met.
In accordance with ASX Listing Rule 3.13.3, European Lithium also released a speech by the chairperson of the proposal meeting to the ASX. The full announcement can be found on the ASX website and on the European Lithium website.
Next steps
Such plans are still subject to approval by the Supreme Court of Western Australia (“the Court”) at the second court hearing to be held on October 26, 2026, and must also meet other conditions specified in the plan description issued to the Australian Securities Exchange on September 15, 2026. If the Court approves these plans, they are expected to come into effect on October 27, 2026. On that day, trading of European Lithium shares and options will be suspended after the market closes.
The remaining key dates are expected to be as follows:
- October 26, 2026: Second court hearing
- October 27, 2026: Effective date and the last trading day for European Lithium stocks and options on the Australian Stock Exchange
- October 29, 2026: Record Date for the Consideration Equity of the Plan
- November 5, 2026: Implementation date, and distribution of the scheme consideration to the securities holders of European Lithium.
- November 6, 2026: The new Critical Metals Corp stock is expected to begin trading on NASDAQ, and European Lithium will be removed from the official list of the Australian Stock Exchange.
All dates related to Australia are based on Perth time. All dates are estimates and are subject to the court approval process. Any changes will be announced by European Lithium on the Australian Stock Exchange.
Regarding Critical Metals Corp.
Critical Metals Corp (Nasdaq ticker: CRML) is a leading mining development company focused on critical metals and minerals, as well as strategic products that are vital for electrification and next-generation technologies, targeting partners in Europe and the Western world. Its flagship project, Tanbreez, is one of the largest rare earth deposits in the world, located in southern Greenland. This deposit is expected to have access to key transportation routes, as the region boasts deep-water fjords that are navigable throughout the year, providing direct access to the North Atlantic Ocean.
Another key asset is the Wolfsberg lithium project located in Carinthia, 270 kilometers south of Vienna, Austria. The Wolfsberg lithium project is the first fully approved mine in Europe, with a superior geographical location and mature road and railway infrastructure. It is expected to become one of the next major producers of lithium products to support the European market. Wolfsberg has purchasing and downstream partners, putting it in a favorable position, and it is poised to become a unique and valuable asset within the expanding portfolio of geostrategic critical metals.
Another key asset is Velta, which is a titanium producer. Its main operation is the Byrzulivske mining and processing plant located in the Kirovohrad region in central Ukraine. Velta is the only private company in Ukraine that has built its own titanium mine complex. Velta owns patented technology for converting ilmenite into titanium powder. The company plans to develop the nearby Likarivske deposit, which will serve as the foundation for a broader cluster of critical minerals. Velta has the conditions to transform from a raw material supplier to a supplier of titanium metal to the Western supply chain, which will make it a unique and valuable addition to the growing portfolio of geostrategically important metals.
With this strategic portfolio, Critical Metals Corp is poised to become a reliable and sustainable supplier of key minerals required for defense applications, clean energy transformation, and the next generation of technologies in the Western world.
For more information, please visit: https :// www.criticalmetalscorp.com.
Warning Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined by Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Forward-looking statements may include company business expectations as well as management's plans and objectives for future operations, including the proposed acquisition of European Lithium and the anticipated timeline and implementation of the plan. Such statements constitute predictions, estimates, and forward-looking statements and do not constitute performance guarantees. Such statements can be identified by the fact that they are not strictly related to historical or current facts. In this press release, forward-looking statements may be identified by words such as “estimate,” “plan,” “expect,” “predict,” “intend,” “will,” “anticipate,” “believe,” “seek,” “goal,” “aim to,” and other similar expressions that predict or indicate future events or trends, or that are not statements of historical facts. Furthermore, any predictions, estimates, or other descriptions of future events or circumstances, including any underlying assumptions, are considered forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may not be accurate. As a result, there may be significant differences between actual results and those anticipated or implied by such forward-looking statements. Actual results may differ materially from those expected in the forward-looking statements for various reasons, including factors discussed in the “Risk Factors” section of the company’s annual report 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this press release, as well as expectations, projections, and assumptions made at that time, and involve a number of judgments, risks, and uncertainties. Therefore, forward-looking statements should not be considered as representing the company’s views at any subsequent date, and the company assumes no obligation to update forward-looking statements to reflect events or circumstances that occur after they are made, whether due to new information, future events, or other reasons, unless required by applicable securities laws.
Critical Metals Corp.
Investor Relations: ir @ criticalmetalscorp.com
Media: pr @ criticalmetalscorp.com
