Chariot Corporation Secures AU$1.6 Million Through Strategic Share Placement

Highlights:

• AU$1.6 Million Raised: Chariot Corporation Limited (ASX: CC9) secured firm commitments for a placement of 32 million shares at A$0.05 each, at the time of writing, to raise A$1.6 million before costs.
• Nigeria Lithium Expansion Funded: Proceeds will support the acquisition of a 66.7% interest in a high-potential hard-rock lithium portfolio in Nigeria and finance related exploration and landholding costs.
• Strategic Investor Support: The placement was strongly backed by institutional and long-term lithium investors, including participants receiving attaching options exercisable at A$0.10 for three years (pending approval).

Chariot Corporation Limited (ASX: CC9) has announced the successful completion of a capital raise totaling AU$1.6 million, achieved through the placement of 32 million ordinary shares at AU$0.05 each. The placement, which was well-supported by strategic and long-term lithium investors, marks a key step forward in Chariot’s efforts to expand its global lithium portfolio. At the time of writing, the funds are expected to settle on Friday, July 18, 2025, with ASX quotation scheduled for Monday, July 21, 2025.

Targeted Use of Capital for Nigerian Lithium Expansion

Proceeds from the capital raise will primarily fund the acquisition of a 66.7% stake in a hard-rock lithium project in Nigeria, a region that has already produced several thousand tonnes of spodumene concentrate exports between 2021 and 2024. The funds will also be allocated to landholding expenses, mineral claims, and exploration in Nigeria—where early signs of spodumene at surface and artisanal mining activity highlight near-term revenue potential.

Global Battery Market Exposure Strengthens

Chariot’s Nigerian assets provide direct access to the growing Chinese battery materials market, while its U.S. holdings in Wyoming, Oregon, and Nevada offer exposure to the domestic supply chain. The company aims to position itself as a globally significant lithium player, supplying both Eastern and Western battery markets.

Investor Confidence and Strategic Support

Managing Director Shanthar Pathmanathan emphasized the placement’s significance, noting it was “a clear endorsement” of Chariot’s long-term strategy. The placement also includes free attaching options (1 for every 2 shares) exercisable at A$0.10 within three years—pending shareholder approval.

This capital raise marks a pivotal step in Chariot’s strategy to rapidly develop high-potential lithium assets and meet soaring global demand.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com