Armada Metals Ltd. (AU:AMM) has released an update.
Armada Metals Ltd. has announced a strategic acquisition of Midwest Lithium Limited, securing a 100% stake in the company and thereby adding highly prospective hard rock lithium projects in America’s largest historical spodumene producing region to its portfolio. In conjunction with the acquisition, Armada is also raising $1.35 million through a placement to institutional and sophisticated investors, subject to shareholder approval at an upcoming extraordinary meeting. These bold moves underscore Armada’s commitment to growth and position it as a significant player in the lithium market.
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