Armada Metals Ltd. (AU:AMM) has released an update.
Armada Metals Ltd. has announced a binding agreement to acquire Midwest Lithium Limited, an explorer of hard rock lithium projects in the USA, which will result in Midwest shareholders owning 50% of Armada post-deal. The acquisition aligns with Armada’s strategy to bolster critical metal supplies and includes a capital raise of at least A$5 million to fund exploration in South Dakota’s lithium-rich Black Hills district. This move marks a significant step for Armada, diversifying its portfolio and expanding into the American lithium market.
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