Critical Metals Corp. to Acquire Interest in Tanbreez Rare Earth Mine

TL;DR

Critical Metals Corp. is buying into the Tanbreez rare earth mine via a Heads of Agreement signed June 5, 2024.

AI Summary

On June 5, 2024, Critical Metals Corp. entered into a Heads of Agreement to acquire an interest in the Tanbreez Green Rare Earth Mine. This project is located in Greenland and is controlled by Rimbal Pty Ltd., a company associated with geologist Gregory Barnes.

Why It Matters

This agreement signifies Critical Metals Corp.'s strategic move into the rare earth elements sector, which is crucial for green energy technologies.

Risk Assessment

Risk Level: medium — The acquisition is subject to further due diligence and definitive agreements, introducing inherent risks in the completion of the transaction.

Key Players & Entities

• Critical Metals Corp. (company) — Registrant
• June 5, 2024 (date) — Date of Heads of Agreement
• Heads of Agreement (document) — Agreement type
• Rimbal Pty Ltd. (company) — Counterparty to agreement
• Gregory Barnes (person) — Geologist controlling Rimbal Pty Ltd.
• Tanbreez Green Rare Earth Mine (project) — Asset to be acquired

FAQ

Key Financial Figures

• $5 million — 5% interest in Tanbreez upon payment of $5 million in cash. After this initial investment,
• $90 million — anbreez in exchange for the issuance of $90 million of newly issued ordinary shares of the
• $10 million — he Company first spending an additional $10 million in cash over a period of two years to f
• $116 million — anbreez in exchange for the issuance of $116 million of newly issued ordinary shares of the
• $211 million — greement values the Tanbreez Project at $211 million. The closing of the Company’s acq

Filing Documents

• ea0207612-6k_critical.htm (6-K) — 30KB
• ea020761201ex99-1_critical.htm (EX-99.1) — 23KB
• 0001213900-24-051465.txt ( ) — 54KB

Forward-looking statements are subject to known

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 Company Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 3, 2024 and in the Company’s proxy statement/prospectus, dated December 27, 2023, as supplemented by that proxy statement/prospectus supplement No. 1, dated February 15, 2024, forming a part of Registration Statement on Form F-4 (File No. 333-268970), as amended, which was declared effective on December 27, 2023. 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 a number of judgments, risks and uncertainties. Accordingly, forward-looking 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. Cautionary Note Regarding Estimates of Measured, Indicated and Inferred Mineral Resources The information herein regarding the possible mineral resources with respect to the Tanbreez Project represent management’s current estimates of such resources. Estimates of the mineral resources at the Tanbreez Project are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on metal prices and interpretations o

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Critical Metals Corp. By : /s/ Tony Sage Name : Tony Sage Title : Chief Executive Officer and Executive Chairman Date: June 10, 2024 5

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View this 6-K filing on SEC EDGAR