Madoro Metals updates on reverse takeover plans and announces C$1.23M private placement financing.

Madoro Metals Corp. provided an update on its proposed reverse takeover (RTO) with Narrow River Resources, including ongoing regulatory preparations and the drafting of a shareholder circular. The company also announced a concurrent private placement to raise up to C$1.23 million through the issuance of hard dollar and flow-through units, intended to fund transaction costs and exploration on the Lac Simard Project in Quebec. The Lac Simard Project is an early-stage lithium-cesium-tantalum exploration site with no prior drilling, and a recent technical report has been completed. Completion of the RTO and private placement is subject to regulatory and shareholder approvals, with further announcements expected once details are finalized.