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Critical Metals Corp. (Nasdaq: CRML) ("Critical Metals Corp" or the "Company"), a leading critical minerals mining company, has today entered into an agreement to acquire a majority shareholding in 60° North Greenland ApS, a Greenlandic construction, exploration, logistics and project development company.
The acquisition will strengthen Critical Metals Corp.'s strategic position in southern Greenland, where the company already holds a controlling interest in the Tanbreez rare earth project, one of the world's largest rare earth deposits. 60° North Greenland ApS brings additional exploration assets, operational capabilities and local expertise in Greenland's mining sector to Critical Metals Corp.'s growing portfolio of critical mineral projects.
As part of the acquisition, 60° North Greenland ApS will enter into a collaboration agreement with Tanbreez to support the development of the infrastructure and local operational capacity around the Tanbreez project.
Tony Sage, Chairman and Chief Executive Officer of Critical Metals Corp., commented:
"This acquisition represents significant progress in our mission to build a robust, western-aligned supply chain for critical minerals," said Tony Sage, Chairman and CEO of Critical Metals Corp. "By expanding our presence in Greenland through this strategic acquisition, we are strengthening our position as a reliable supplier of materials essential for defense applications, the clean energy transition, and next-generation technologies serving the United States, Europe, and their western world partners."
Malik Rasmussen, Chief Executive Officer, 60° North Greenland ApS, based in Qaqortoq, Greenland commented:
"The whole team of professionals at 60° North Greenland welcomes the opportunity to expand our footprint and capabilities via strategic engagement with Critical Metals Corp. Critical Metals is committed to investing locally in Greenland, to upgrading technologies in various sectors in Greenland, and sharing global best practices with managers and employees who actually do the work across a variety of geographies in Greenland," Malik Rasmussen, Chief Executive Officer of 60° North Greenland. "By expanding our horizons, we are consolidating our professional capacity as a key link in building a better Greenland and a better world."
The transaction is expected to close subject to customary closing conditions.
About 60 Degree North, Greenland
60 Degree North Greenland A/S is a Greenland-based services company specializing in Arctic logistics, drilling support, and field operations for exploration and mining projects. The company provides operational services designed to support resource development projects across Greenland's remote regions.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on Critical Metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest, rare-earth deposits and is in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic Critical Metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and do not guarantee performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "designed to" or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the "Risk Factors" section in the Company's Annual Report on Form 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 news release, and expectations, forecasts and assumptions as of that date, involve several judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
