Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Successful Placement

by admin 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
InhaleRx Secures $38,500,000 Funding to Fully Fund Clinical Development Plans
next post
Integration of Vanadium into Lake Maitland Uranium Resource Underway to Re-optimise Pit

Related Posts

CEOL Application and Amended 2024 Interim Results for...

January 2, 2025

Issue of Equity and TVR

December 7, 2024

Crypto Market Recap: Bitcoin Rebounds After Drop Below...

June 24, 2025

Finlay Minerals Enters into Earn-In Agreements with Freeport...

April 20, 2025

High-Grade Gold Samples extend Clifton East Strike to...

May 22, 2025

Robinhood Shares Hit Record High on EU Launch...

July 3, 2025

Completion of preclinical data package for RAD 402

December 10, 2024

A Major New Play is Being Proven in...

October 17, 2024

Lode Gold Signs Letter of Intent to Execute...

September 24, 2024

Latest Drilling Confirms Deeper Mineralised Trends at Lo...

September 19, 2024

    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.

    Recent

    • Bernie Sanders calls for RFK Jr. to resign as HHS secretary over vaccine policies: ‘Rally the American people’

      September 2, 2025
    • Altech Batteries LtdCERENERGY Battery 46.7M Euro German Grant Approval

      September 2, 2025
    • Altech – CERENERGY Battery 46.7M Euro German Grant Approval

      September 2, 2025
    • Locksley Resources LimitedStrengthens Leadership to Accelerate Growth Strategy

      September 2, 2025
    • Trump nominees squeezed between ‘blue slips’ and blue obstruction

      September 1, 2025

    Categories

    • Business (1,092)
    • Investing (2,949)
    • Politics (3,599)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 © 2025 sportinvestorsleague.com | All Rights Reserved