Critical Metals Corp reshuffles executive team, locks shareholder shares

NEW YORK - Critical Metals Corp (NASDAQ:CRML), a mining development company, announced today the appointment of several key executive positions and the enactment of a shareholder lockup agreement. Sergey Savchenko will take on the role of Chief Financial Officer, George Karageorge steps in as Chief Technical Officer, Thomas McNamara is named Director of Corporate Development & Investor Relations, and John Thomas will serve as General Counsel.

The new appointees will report directly to CEO Tony Sage and are effective immediately. Sergey Savchenko, with 24 years of U.S. public markets experience, replaces Steven Parkes as CFO, having been instrumental in the company’s Nasdaq listing. George Karageorge, a 30-year veteran in the mining sector, is set to oversee technical reporting and project development. Thomas McNamara, an experienced metals & mining portfolio manager, will manage corporate development strategies and investor relations. Lastly, seasoned attorney John Thomas is appointed to lead legal functions.

In addition to the executive changes, Critical Metals Corp has secured a binding agreement with its majority shareholders, European Lithium Limited and Rimbal, to lock up their shares for 180 days. This move indicates the shareholders’ confidence in the company’s long-term value creation, despite the stock’s significant decline of over 83% in the past year. InvestingPro subscribers can access additional insights and 7 more key tips about CRML’s financial health and market position.

The company recently issued 5 million shares to Rimbal as part of the acquisition terms for the Tanbreez project. Following a $10 million exploration investment in Tanbreez by the end of 2025, Critical Metals Corp has the option to increase its stake to 92.5% by issuing additional shares valued at $116 million.

The Board of Directors also approved annual equity awards for its directors on April 26, 2025, which will vest after one year.

Critical Metals Corp is focused on producing strategic materials essential for modern technologies. Its flagship Tanbreez project in Greenland is one of the world’s largest rare earth deposits. The company also owns the Wolfsberg Lithium Project in Austria, the first fully permitted mine in Europe, poised to supply the European market. While the company currently generates modest revenue of $0.48 million, InvestingPro analysis suggests the stock may be overvalued at current levels, with detailed valuation metrics available to subscribers.

This news is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. The company’s performance may differ materially from these projections. For more information, please visit the company’s website.

In other recent news, Critical Metals Corp has announced a private investment in public equity (PIPE) financing expected to generate approximately $22.5 million in gross proceeds. The company plans to issue around 4.5 million ordinary shares at $5.00 per share, along with warrants to purchase an equal number of shares at a strike price of $7.00. The raised funds are intended for the development of the company’s two pre-production mining assets and general corporate expenses. Critical Metals Corp has also decided to eliminate anti-dilution provisions from certain senior convertible notes expected to be issued at the transaction’s close. Additionally, Critical Metals Corp has appointed Michael C. Ryan as an independent director on its board, where he will also serve as Chairman of the Audit Committee. Mr. Ryan’s extensive experience in defense and government is considered a valuable asset as the company advances its Tanbreez Project in Greenland. The Tanbreez Project is noted for its significant rare earth deposits, which are essential for defense applications. The company’s strategic assets, including the Wolfsberg Lithium Project in Austria, aim to position Critical Metals Corp as a key supplier of critical minerals in the Western world.

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