Chariot Resources Secures $1.4M Investment from Shanghai Greatpower for Nigerian Lithium Projects
Chariot Resources has finalized a deal with Shanghai Greatpower, securing $1.425 million for its Nigerian lithium initiatives. This investment will support exploration and development of four projects: Fonlo, Gbugbu, Iganna, and Saki. The agreement includes the subscription of 9.5 million shares and options for further investment. Both companies are also discussing project financing and potential offtake agreements.
Theia Market Signal Identification - AI Assisted
Chariot Resources has closed a $1.425 million investment deal with Shanghai Greatpower for its Nigerian lithium projects. Under the agreement, Greatpower will acquire 9.5 million shares at $0.15 each, along with 19 million options for future investment.
This partnership aims to enhance Chariot's lithium exploration and development efforts across four projects covering 254 square kilometers. The investment is contingent on approvals from Chinese authorities, expected by mid-April.
Chariot plans to utilize funds for small-scale mining and exploration, with high-grade lithium results reported at Fonlo and Iganna. The companies are also negotiating project financing and offtake rights.
Comments