Madoro Metals Corp. Provides Update On Proposed Reverse Takeover With Narrow River Resources

Madoro Metals Corp. (MDM) has filed initial documentation with the TSX Venture Exchange (TSXV) under Policy 5.2 to commence the review and approval process for its previously announced proposed reverse takeover (RTO) with Narrow River Resources Pty Ltd. (NRR). The company confirmed it is proceeding with a concurrent non-brokered private placement for up to C$1,230,000, which serves as a condition precedent to the completion of the RTO.

Completion of the transaction remains subject to TSXV acceptance, regulatory approvals, shareholder approval at a special meeting, and the successful closing of the private placement. Madoro will be authorized to call a special meeting of shareholders once the TSXV review is satisfied. Details regarding the meeting will be included in a management information circular (Circular) to be filed on SEDAR+. Concurrently with the Circular, a technical report on the Lac Simard mineral project, prepared under NI 43-101, will also be filed on SEDAR+.

The financing component involves a concurrent non-brokered private placement with aggregate gross proceeds of up to C$1,230,000. The offering is composed of hard dollar units and flow-through units. The closing of the private placement is a condition precedent to the RTO and will occur concurrently with the transaction. Other customary closing conditions also apply.

“The parties remain committed to moving the Proposed Transaction forward and will provide further updates as appropriate,” said Brian Ostroff, Executive Chair & Director.