Smartkem, Inc. and Ferrox Critical Minerals to Combine in All-Stock Merger Valuing Ferrox at $125 Million

WILMINGTON, Del., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Smartkem, Inc. (Nasdaq:SMTK) ("Smartkem" or the "Company") today announced that it has entered into a definitive business combination agreement (the "Agreement") with Ferrox Critical Minerals ("Ferrox"), a critical minerals developer whose principal asset is the Tivani project in Limpopo Province, South Africa. “With this merger we will now have the ability to source critical minerals for Smartkem as well as provide excess material to the global market, making Smartkem one of the few vertically integrated public electronics companies,” comments Terrence Duffy, incoming CEO.