Press Release – New York, NY – August 12, 2026 – Sichenzia Ross Ference Carmel LLP announced that it is representing Ferrox Critical Minerals (a critical minerals developer whose principal asset is the Tivani project in Limpopo Province, South Africa, with a strategy focused on the development and production of titanium, iron, and vanadium products) in its recently announced proposed business combination with Smartkem, Inc. (Nasdaq: SMTK), with the goal of forming one of the few vertically integrated public electronics companies.
The transaction is subject to various closing conditions, and the transaction consideration (payable solely in newly issued shares of Smartkem common stock) values Ferrox at $125 million (with such consideration to be reduced by the amount of the debt obligations of Ferrox to Smartkem pursuant to promissory notes issued by Ferrox and held by Smartkem), according to the parties.
The SRFC team is led by partner Arthur Marcus, with associates Jesse Blue and Matthew Palumbo.