Skyline Builders Group (CRMN) plans to acquire 51% of SuperCritical Materials to advance US-based seawater uranium extraction, with the transaction expected to close in 1Q 2027 following a $10 million capital injection.
Skyline signed a term sheet to acquire 51% of SuperCritical Materials, whose seawater uranium extraction technology is still at the preliminary economic assessment stage, with closing expected in 1Q 2027. A defined deal structure (51% Skyline, 44% SuperCritical holders, 5% for $10m new money) and a US supply-chain narrative are positive for the stock. However, the term sheet is non-binding, the prior letter of intent in 2025 was terminated, and no revenue figures are given, limiting conviction.
Skyline Builders Group Holding (CRMN) has signed a non-binding term sheet to acquire a 51% stake in SuperCritical Materials, a developer of seawater uranium extraction technology. The deal, expected to close in 1Q 2027, includes a $10 million private placement by new investors for a 5% stake, while current SuperCritical shareholders will retain 44%.
A non-binding term sheet under which Skyline would own 51% of the combined entity after exchanging preferred shares for SuperCritical Materials shares, with SuperCritical shareholders at 44% and new investors putting in $10m for 5%. The deal is expected to close in 1Q 2027.
It holds an exclusive commercial license to US DOE-developed adsorbent technology that extracts uranium and other critical metals from seawater, and is working through engineering studies toward an industrial-scale project off the coast of Texas.