SmartKem agrees all-stock merger with Ferrox Critical Minerals valuing Ferrox at $125 million

• SmartKem agreed to an all-stock merger with Ferrox Critical Minerals valuing Ferrox at USD 125 million, net of Ferrox debt owed to SmartKem.
• Ferrox’s main asset is the Tivani critical minerals project in Limpopo Province, South Africa, held under a mining right for iron, titanium, vanadium.
• No cash will be paid; share issuance will be set using SmartKem’s 30-trading-day VWAP ending just before closing.
• Closing requires shareholder approvals for both companies, Nasdaq clearance, required government approvals, no material adverse change.
• Either party can terminate if the deal has not closed by March 31, 2027.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SmartKem Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608030700OMX_____CNEWS_EN_GNW1001255770_en) on August 03, 2026, and is solely responsible for the information contained therein.