09:24 AM EDT, 04/27/2026 (MT Newswires) -- Critical Metals (CRML) said Monday that it has signed a letter of intent to purchase all outstanding equity of European Lithium in a stock deal valued at roughly $835 million.

The arrangement provides the target business's investors with 0.035 shares of the acquiring firm for each share owned, the company said.

The transaction will cancel a 34% cross-holding stake currently held by European Lithium to reduce equity dilution and expand the publicly traded share count, Critical Metals said.

The buyout secures complete control of the Tanbreez rare earth site in Greenland by acquiring European Lithium's 7.5% stake, Critical Metals said.

The proposed deal is expected to be completed during H2, pending customary closing conditions including shareholder approvals, the company added.

Shares of Critical Metals were up more than 7% in recent Monday premarket activity.