Armada Metals Limited (ASX:AMM) signed a letter of intent to acquire LITHIUM EXPLORATION PROJECTS IN BRAZIL from ANTARES MINERAIS ENERGÉTICOS LTDA for AUD 1.19 million on November 23, 2023. The consideration consists of AUD 0.15 million in cash and the issue of 26 million fully paid ordinary shares. The transaction is subject to third party, other regulatory and approval from shareholders of Armada. As of January 15, 2024, Armada Metals has completed the due diligence for the acquisition and will proceed to negotiate and execute the long form documentation in relation to the acquisition.

Armada Metals Limited (ASX:AMM) cancelled the acquisition of LITHIUM EXPLORATION PROJECTS IN BRAZIL from ANTARES MINERAIS ENERGÉTICOS LTDA on January 30, 2024.