Madoro Metals Corp. Provides Update on Proposed RTO and Announces Private Placement

About this update from Madoro Metals Corp

VANCOUVER, British Columbia - Madoro Metals Corp., is pleased to provide an update regarding the proposed reverse takeover (the 'Proposed Transaction') with Narrow River Resources Pty Ltd. ('NRR') previously announced in the Company's news release dated February 2, 2026. Madoro and NRR (the 'Parties') continue to advance the various components required under TSX Venture Exchange ('TSXV') Policy 5.2 - Changes of Business and Reverse Takeovers, including the preparation of the required disclosure and transaction documentation in connection with the Proposed Transaction. The Parties are currently working toward finalizing and executing a definitive agreement. Furthermore, as the Proposed Transaction will require the approval of the shareholders of Madoro at a special meeting called to that effect (the 'Meeting'), the Company is also preparing a management proxy circular (the 'Circular') to be sent to its shareholders in connection with the Meeting. The Circular will contain information and disclosure as required by the policies of the TSXV, notably on the Proposed Transaction, the Lac Simard Project (as defined herein) and the resulting issuer once the Proposed Transaction is completed. The Company is not yet in a position to announce when it will be in a position to announce the date of the Meeting. Concurrent Non-Brokered Private Placement In connection with the Proposed Transaction, the Company is also announcing a concurrent non-brokered private placement financing (the 'Private Placement') for aggregate gross proceeds of up to C$1,230,000, comprised of: (i) up to C$750,000 in hard dollar units ('HD Units') and (ii) up to C$480,000 in flow-through units ('FT Units'). The Private Placement is expected to be completed concurrently with the closing of the Proposed Transaction (the 'Closing'). Under the Private Placement, the Company proposes to issue 15,000,000 HD Units at a price of C$0.05 per HD Unit for gross proceeds of C$750,000 and 6,000,000 FT Units at a price of C$0.08 per FT Unit for gross proceeds of C$480,000. Each HD Unit will consist of one common share of the Company (a 'Common Share') and one-half of one common share purchase warrant (each whole warrant, an 'HD Warrant'). Each HD Warrant will entitle the holder to purchase one Common Share at a price of C$0.08 for a period of two (2) years from the Closing. Each FT Unit will consist of one Co...

View stock analysis, news, and events for Madoro Metals Corp