Madoro Metals Corp. Announces Signing of Definitive Agreement for Proposed Reverse Takeover with Narrow River Resources
Madoro signs definitive agreement for the RTO project, securing $1.2 million in financing ahead of a shareholder vote.
Madoro Metals Corp. has signed a definitive share purchase agreement to acquire the Québec mineral assets of Narrow River Resources Pty Ltd. (NRR) through a reverse takeover transaction. The deal involves acquiring a Québec subsidiary of NRR, which holds the Lac Simard project located in the emerging Décelles lithium camp.
Consideration for the transaction consists of Madoro common shares and related transaction consideration. Concurrently, the company is proceeding with a non-brokered private placement for up to C$1,230,000 in gross proceeds, composed of hard dollar and flow-through units.
Completion of the transaction is strictly subject to TSX Venture Exchange acceptance, regulatory approvals, and shareholder approval via a special meeting. The company is preparing a management proxy circular for the shareholder vote, in accordance with TSXV Policy 5.2.
Madoro Metals Corp. (MDM) signed a definitive agreement, a procedural milestone following the Letter of Intent announced in January/February 2026. The transaction confirms the deal structure without introducing new valuation metrics, unexpected upside, or strategic pivots. The market has already priced the reverse takeover into the stock, which has traded flat at $0.06 since late January 2026. A concurrent financing of $1.23M is modest and aligns with prior announcements. The news is expected and incremental, representing a standard step toward closing without materially altering the fundamental risk profile or execution timeline.
Madoro Metals Corp. is an exploration-stage mining company with no revenue-generating operations. Its flagship asset is the First Green Lithium project, located in the Décelles camp of the Abitibi-Témiscamingue region in Québec. The company is proposing to acquire the Lac Simard project from Narrow River Resources, which will add to its combined land package. These holdings consist of approximately 350 exclusive exploration rights covering more than 20,000 hectares. The geology of the area is considered favorable for lithium-cesium-tantalum (LCT) pegmatite-style deposits. No mineral resources or reserves have been identified on any of the company's properties.