Armada Metals Ltd. (AU:AMM) has released an update.
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Armada Metals Ltd. has signed an agreement to acquire Midwest Lithium Ltd. and has successfully raised A$1.35 million through an equity placement. The funds will be used for exploration and acquisition of Midwest project tenements, maintenance of existing projects, and general working capital. The completion of the acquisition is pending shareholder approval, with new shares expected to begin trading on the ASX post-transaction.
For further insights into AU:AMM stock, check out TipRanks’ Stock Analysis page.