Madoro Consolidates Quebec's Emerging Decelles Lithium Camp with the Proposed Takeover of Australian Privately Owned Narrow River Resources

Core Viewpoint - Madoro Metals Corp. has signed a letter of intent to acquire all assets of Narrow River Resources Pty Ltd, which is expected to constitute a "Reverse Takeover" of Madoro, focusing on lithium and critical mineral projects in Québec, Canada [1][6]. Group 1: Proposed Transaction Details - The Proposed Transaction involves Madoro acquiring all issued and outstanding shares of NRR's subsidiary, NRR SubCo, in exchange for 95 million common shares of Madoro and a 2% net smelter return royalty on the Property [5][11]. - Upon completion, the combined properties will cover at least 350 exclusive exploration rights over a minimum of 20,000 hectares in a promising lithium belt [3][6]. - The transaction is subject to various conditions, including the negotiation of a Definitive Agreement, satisfactory technical reports, and necessary regulatory approvals [8][9]. Group 2: Strategic Benefits - The merger is expected to enhance Madoro's position in the lithium market, as Québec has become a key area for hard rock lithium exploration with significant discoveries [5][6]. - The combined entity will not only focus on lithium but also explore opportunities for other valuable minerals such as gold [5][6]. - The transaction will transition NRR from a private to a public company, providing easier access for qualified investors [5][6]. Group 3: Financing and Governance - Madoro plans to conduct a concurrent non-brokered private placement to meet the Exchange's listing requirements, with proceeds used for transaction expenses, exploration, and working capital [11][12]. - Changes to the board of directors are anticipated, with a minimum of five members, three appointed by Madoro and two by NRR [13][14]. - The Proposed Transaction may require sponsorship unless an exemption is obtained, and Madoro intends to apply for such an exemption [15][16].