The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Successful Placement

by October 21, 2024
October 21, 2024
Successful Placement

Chariot Corporation Limited (ASX:CC9) (“Chariot” or the “Company”) is pleased to announce that it has received firm commitments for a placement raising A$1.618 million (the “Placement”) before costs, though the issuance of approximately 8.09 million fully paid ordinary Chariot shares (“Shares”) at a price of A$0.20 per Share on the terms set out in this announcement.

HIGHLIGHTS:

Successful Placement: Chariot has received firm commitments for a A$1.618 million placement of 8.09 million new shares at A$0.20 per share.Strong Investor Support: The placement was strongly backed by a group of institutional, sophisticated and professional investors with Ignite Equity Pty Ltd acting as lead manager.Directors’ Subscription: The Directors have subscribed for A$150,000 under the Placement (subject to shareholder approval at the next general meeting).Use of Placement Proceeds: The existing cash reserves combined with the proceeds of the placement will fund (i) phase 2 drilling at the Black Mountain Lithium Project, (ii) the 4th purchase price payment to Black Mountain Lithium Corp., one of the Black Mountain Project vendors, (iii) initial execution of the pilot mine strategy, including metallurgical testing in Perth and a scoping study for a pilot mine and general working capital.Upcoming Activities: Chariot is progressing with the phase 2 drilling program which seeks to define a maiden resource estimate to advance the pilot mine initiative at Black Mountain.

The placement was strongly supported by a group of institutional, sophisticated and professional investors, including existing shareholders and associates of Ignite Equity Pty Ltd, which acted as the lead manager for the placement.

Placement Terms

The placement terms are as follows:

Certain members of the Company’s Board of Directors have elected to subscribe for 750,000 shares, 375,000 2025 Options and 375,000 2026 Options. The issue of the shares and options under this Placement is subject to the approval of Chariot’s shareholders at the next general meeting.

Use of Proceeds

The Placement proceeds will be used to fund (i) phase 2 drilling at the Black Mountain Lithium Project, (ii) the 4th purchase price payment to Black Mountain Lithium Corp., one of the Black Mountain Project vendors, (iii) initial execution of the pilot mine strategy, including metallurgical testing in Perth and a scoping study for a pilot mine and general working capital.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Taroom Gas Infrastructure MOU Signed with AGIG
next post
Integration of Vanadium into Lake Maitland Uranium Resource Underway to Re-optimise Pit

You may also like

Juggernaut Commences Drilling on 600 Meters by 350...

Boss Energy Limited

QUIMBAYA GOLD INC. CLOSES PRIVATE PLACEMENT FINANCING

REPEAT — Helium Evolution Announces Farm-In Partner to...

Silver Crown Royalties Announces Corporate Update

Flynn Gold

Purepoint Uranium Discovers New Lightning Zone Grading 0.29%...

World Gold Council: Record Q1 Gold Price Driven...

Dore Copper Mining: Copper-Gold Exploration in the Chibougamau...

Charbone Hydrogene renforce ses capacites d’exploitation et de...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Sycamore Gap: Two men convicted of felling one of UK’s most famous...

    • Putin, Xi and friendly world leaders celebrate Russia’s Victory Day at Moscow Parade

    • Ellen Miles is planting seeds of hope through guerrilla gardening

    • US Policy Momentum, Clinical Progress Fueling Psychedelics Market in 2025

    • China has spent billions developing military tech. Conflict between India and Pakistan could be its first major test

    Categories

    • Business (1,633)
    • Investing (4,791)
    • Politics (7,535)
    • World (6,128)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top