Armada Metals Ltd. (AU:AMM) has released an update.
Armada Metals Limited is set to acquire Midwest Lithium Limited, aiming to become a diversified explorer of critical metals in the USA and Africa. The deal promises to enhance shareholder value by adding drill-ready lithium projects in South Dakota to Armada’s portfolio, with exploration activities planned for the following quarter. The transaction entails a capital raise of at least A$5 million, partially underwritten by Strata Investment Holdings Plc.
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