Shanthar Panthmanathan

Chariot Corporation has launched an initial public offering and applied for listing on the Australian Securities Exchange.

The IPO involves the offer of 34,444,445 ordinary shares of the company at an issue price of A$0.45 per share. 

The offer is scheduled to formally open on August 31, 2023 and close on September 14, 2023. 

The Shares are expected to trade on the ASX under the ticker "CC9".

Wilsons Corporate Finance Limited and Jett Capital Advisors LLC are acting as Joint Lead Managers to the IPO. 

Wilsons is also acting as the book runner and Steinepreis Paganin is acting as the Company's legal advisor for the IPO.

Chariot holds interests in a diversified portfolio of lithium projects, primarily located in the United States. 

The company's principal projects exhibit lithium mineralisation at surface with large-scale potential based on the surface area of the mineral claims comprising the projects.

Chariot Corporation has discovered high-grade lithium mineralisation at its Black Mountain hard rock lithium project in Wyoming.

The discovery was made through a surface rock chip sampling program conducted in July 2023. 

"These recent rock chip samplings suggest the need for systematic exploration and drilling of the spodumene-bearing pegmatites at Black Mountain immediately upon completion of our IPO and ASX listing. 

“We will then need to systematically explore and drill the hundreds of other outcropping pegmatites at our 6 other projects in Wyoming which hold a unique opportunity to develop domestic hard rock lithium supply in the United States," said Chariot's Managing Director, Shanthar Pathmanathan.

The program identified spodumene, a lithium mineral, visible at surface at multiple locations. Laboratory assay results confirmed high-grades of lithium mineralization at-surface in outcropping lithium bearing pegmatites.

Chariot collected rock chip samples from pegmatite outcrops across multiple locations at Black Mountain. Twelve (12) rock chip samples were collected and laboratory assayed with a best result of 5.24% Li2O and an average assay result of 2.10% Li2O.

The results of the recent rock chip sampling survey confirm the broad distribution of lithium mineralization at-surface and the abundance of outcropping lithium bearing pegmatites at Black Mountain.

Chariot Corporation has appointed Murray Bleach to the company’s board as Non-Executive Chairman, effective from 2 August 2023.

Bleach is an accomplished corporate leader with over 40 years of experience in investment banking, funds management, and infrastructure. 

He has held Executive Director and CEO roles at Macquarie Group Limited’s North American business and Intoll Group Limited. 

He also served for 9 years as Non-Executive Director and Chair at IFM Investors Pty Ltd and currently serves at AustralianSuper Pty Ltd as the ‘Infrastructure and Private Equity Expert’ for its Direct Investment Group and Transaction Review Committee.

“Murray has been associated with tremendous successes at Macquarie and more recently with various ASX listed companies, realising the growth of various multi-billion dollar businesses. 

He has overseen the type of large-cap success to which Chariot aspires and his appointment is opportune as it coincides with our upcoming ASX listing and IPO, when we’ll enter a larger, more challenging playing field with great possibilities,” said Chariot’s Managing Director, Shanthar Pathmanathan.

Bleach’s appointment is a significant coup for Chariot. He brings a wealth of experience and expertise to the company at a critical time in its development. Chariot is preparing to go public on the ASX and is poised to become a major player in the US lithium sector.

“Bleach’s appointment is also a signal to the market that Chariot is serious about becoming a large-scale supplier of US-sourced lithium,” said Mr Pathmanathan.

Chariot Corporation, a lithium exploration company with a portfolio of projects in the United States, has appointed Wilsons Advisory and Stockbroking and Jett Capital Advisors as joint lead managers for a proposed listing on the ASX.

Chariot has a portfolio of hard rock and claystone-hosted lithium prospective deposits in the United States. 

The company plans to drill 15,800 metres of diamond drill hole and reverse circulation drilling across its core projects over the 18 months following the IPO.

The proceeds from the IPO will be used to advance Chariot's exploration portfolio and achieve its plans for becoming a large-scale supplier of US-sourced lithium.