Critical Metals Corp Takeover of European Lithium Moves to Shareholder Vote in August

European Lithium shareholders to vote in late August on Critical Metals Corp acquisition; stock up 740% from 52-week low. Deal expected to close early September 2026.

The proposed acquisition of European Lithium by NASDAQ-listed Critical Metals Corp is locked into a tight timetable, with shareholders set to receive a detailed scheme booklet by the end of July and cast their ballots in late August. If approved, the transaction is expected to close in the first week of September 2026.

Investors in the Australian lithium developer have already reaped spectacular gains. The stock trades at €0.26, a 174% advance since the start of the year, and an eye-popping 740% above its 52-week low of €0.03 hit in June 2025. The shares remain about 16% below the June 2026 high of €0.31.

Two Projects, One Deal

The merger brings together two distinct lithium assets under Critical Metals’ umbrella. European Lithium will retain a 7.5% minority stake in the Tanbreez project in Greenland, while its wholly owned Wolfsberg project in Austria — designed to feed Europe’s growing battery supply chain — becomes the centerpiece of the combination.

Under the Scheme Implementation Deed signed in May 2026, Critical Metals will acquire all issued shares and listed options of European Lithium. For each European Lithium share, holders will receive 0.035 new Critical Metals shares. The deal will be executed through court-approved schemes of arrangement, with shares allocated directly rather than via the originally mooted ASX-listed CHESS Depository Interests.

Timeline Tightens

The scheme booklet, which includes an independent expert’s report prepared by Nexia Perth Corporate Finance, will be dispatched to shareholders and option holders at the end of July. The report evaluates whether the transaction is in the best interests of European Lithium’s owners. Following the shareholder meeting in late August, the transaction will move to the regulatory stage, with completion slated for the first week of September.

All outstanding conditions must be satisfied by both sides before the merger can proceed. With the vote just weeks away, the next few weeks will determine whether this rapid rally — already one of the most dramatic on the ASX — translates into a successful takeover.