Critical Metals announced that it has completed Stage 1 of its recently announced plan to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine from Rimbal Pty, a company controlled by geologist Gregory Barnes. In exchange for a 36.45% interest in Tanbreez Mining Greenland A/S, 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%.
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