European Lithium Targets Early September Completion of Critical Metals Deal

Merger Process Advances Without Delay

European Lithium Limited (ASX:EUR) has provided an update on its proposed acquisition by Critical Metals Corp (NASDAQ: CRML), confirming that the transaction is progressing smoothly and remains on track according to the indicative timetable set out in May 2026. The deal, structured as court-approved schemes of arrangement, would see CRML acquire 100% of EUR's issued shares and listed options.

Both parties continue to work closely with their advisers, with preparation of the Scheme Booklet well advanced. This document is critical as it contains detailed information for shareholders and optionholders, including the Independent Expert's Report assessing the merits of the Schemes. The appointment of Nexia Perth Corporate Finance Pty Ltd as Independent Expert reflects EUR’s commitment to providing an impartial assessment to its investors.

Independent Expert Report Nearing Finalisation

The Independent Expert's Report, which will advise whether the Schemes are in the best interests of EUR shareholders and optionholders, is progressing in line with expectations but has not yet been finalised. Its inclusion in the Scheme Booklet is a key milestone ahead of the scheduled dispatch in late July 2026.

Shareholders and optionholders are not required to take any action at this stage, underscoring the procedural nature of the current phase. The next major steps include Scheme Meetings planned for late August, where investors will vote on the proposed transaction.

Conditions and Timetable Remain on Track

The parties remain focused on satisfying or, where applicable, waiving the remaining conditions precedent necessary to complete the transaction. These steps include regulatory approvals and court sanction, which are standard requirements for schemes of arrangement under Australian corporate law.

Assuming all conditions are met, and with shareholder and court approvals secured, the Schemes are expected to be implemented in early September 2026. This timeline aligns with the original schedule outlined in EUR’s May announcement, maintaining a steady path to completion.

While the update is procedural, it reassures investors that the acquisition process is advancing without unexpected hurdles. The collaboration between EUR and CRML and the steady progress of advisory workstreams suggest a well-managed transaction so far.