Chariot Corporation Ltd has secured firm commitments to raise A$1.1 million before costs through a private placement of 22 million new ordinary shares priced at A$0.05 each.

The financing delivers funds to complete the acquisition of a Nigerian hard-rock lithium portfolio spanning approximately 257.1 square kilometres across the Fonlo, Gbugbu, Iganna and Saki project clusters. Net equity proceeds will also support licence costs, exploration outside a separate partner-funded diamond drilling and trial-mining program agreed with C&D and ZhongNuo, corporate overheads, and a 30 per cent partial repayment of the GAM secured loan.

Investors in the placement will receive one free-attaching listed option in the CC9O class for every two shares subscribed. Each option carries an exercise price of A$0.10 and expires on 19 December 2028, with the issue subject to shareholder approval at an upcoming general meeting.

Placement settlement is expected on 22 September 2026, with quotation on the Australian Securities Exchange anticipated on 23 September 2026. PAC Partners Securities Pty Ltd and Xcel Capital Pty Ltd acted as joint lead managers to the issue, receiving management and equity raising fees along with unlisted options subject to shareholder approval.

Read the full announcement: Chariot Raises $1.1 Million for Nigerian Lithium Projects