Madoro Metals signs definitive agreement for proposed reverse takeover transaction
Madoro Metals Corp. (hereinafter referred to as "Madoro" or the "Company") (TSX Venture Exchange: MDM; OTC: MSTXF; Frankfurt: A2QQ1X) The Company announced on July 17 that, following the press releases issued on February 2, 2026 and May 4, 2026, the Company has entered into an agreement with 9525-9867 Québec Inc. (hereinafter referred to as the "Seller") and Narrow River Resources Pty Ltd. ("NRR") has entered into a definitive share purchase agreement in connection with the Company's previously announced proposed reverse takeover transaction (the "Proposed Transaction"). According to the final agreement, Madoro will acquire NRR's Quebec mineral assets by acquiring the issued shares of a Quebec subsidiary in exchange for the issuance of Madoro common shares and certain related transaction considerations. The specific terms and conditions are subject to the final agreement. Madoro Executive Chairman Brian Ostroff said: "With the signing of the documents, we are now fully committed to advancing the development of the combined company. Québec has discovered several important hard rock lithium deposits, proving that it is an important global key mineral exploration destination. The combination of the two companies has established leading lithium exploration opportunities in Quebec's emerging Décelles mining area." Completion of the proposed transaction remains subject to regulatory and shareholder approval, TSXV acceptance, completion of private placement financing, execution of ancillary transaction documents and satisfaction of other customary closing conditions.