Update On Reverse Takeover Transaction
Madoro advances its Narrow River RTO project and secures $1.23m in financing while shares remain flat at $0.06.
Madoro Metals Corp. has issued an administrative update regarding its proposed reverse takeover with Narrow River Resources Pty Ltd. The company is currently finalizing the management proxy circular necessary for a special shareholder meeting to approve the transaction.
Concurrently, a non-brokered private placement for up to C$1,230,000 is proceeding, pending TSXV acceptance and regulatory approvals. Completion of the transaction remains contingent on shareholder approval, TSXV acceptance, financing completion, and the execution of ancillary documentation.
Madoro Metals Corp. (MDM) issued an update regarding its reverse take-over (RTO) process, a routine administrative step in the transaction. The market was already aware of the transaction terms, which include 95 million shares and a 2% net smelter return (NSR), as well as the concurrent $1.23 million financing from prior releases in February and May 2026.
The update introduced no new financial terms, valuation changes, or strategic pivots. It confirms that the company is adhering to the TSXV Policy 5.2 timeline, a development that was expected. The news is viewed as neutral to slightly positive for the stock price, as it maintains momentum toward closing, though it lacks the catalyst required to break the current $0.06 consolidation.
Madoro Metals Corp. is an exploration-stage company with no revenue-producing operations. Its flagship asset is the First Green lithium-bearing pegmatite project located in Quebec's Decelles camp. The company is proposing to acquire the Lac Simard project from Narrow River Resources, a move that would combine to create a roughly 20,000-hectare land package in the emerging Decelles lithium belt. Madoro is currently advancing exploration and technical reporting under NI 43-101 standards to support its reverse takeover.