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Critical Metals Corp (NASDAQ:CRML) ("Critical Metals Corp"), 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, today announced that it has completed Stage 1 of its recently announced plan to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine (the "Tanbreez Project") from Rimbal Pty Ltd., a company controlled by geologist Gregory Barnes ("Rimbal").
In exchange for a 36.45% interest in Tanbreez Mining Greenland A/S ("Tanbreez"), Critical Metals Corp issued 8.4 million CRML shares to Rimbal. This transaction builds on Critical Metals Corp's previously announced initial acquisition of a 5.55% stake in Tanbreez in exchange for an investment of $5.0 million in Rimbal, increasing the Company's total interest in Tanbreez to 42%.
Posted In: CRML
