Chariot Corporation (ASX: CCR) Announces Successful OTCQB Listing

Chariot Corporation (ASX: CCR) has announced its successful OTCQB listing under ticker CHRTF, marking an entry into North American capital markets while maintaining its primary ASX listing. This secondary listing offers existing shareholders enhanced market access without dilution, as no new ordinary shares were issued in connection with this development. This ASX announcement highlights the company’s efforts to broaden its investor base.

The lithium exploration company’s diversified portfolio includes twelve projects across the United States, Nigeria, and Australia. With confirmed high-grade lithium mineralisation at surface from initial surveys at its Core Projects in Wyoming and Nevada/Oregon, Chariot is positioned to benefit from increased North American investor participation.

What are the Benefits of OTCQB Market Access for Chariot?

This OTCQB listing provides multiple advantages for shareholders across both Australian and US markets. Enhanced liquidity represents an immediate benefit, with extended trading hours providing additional market access opportunities.

Key Advantages:

• Broadened institutional access from North American investment firms.
• Enhanced US market presence, aligning with significant American lithium assets.
• Improved price discovery through dual-market trading mechanisms.
• Positioning for a potential future NASDAQ upgrade.
• Reduced foreign exchange friction with USD-denominated trading options.

Furthermore, the timing positions Chariot to attract US institutional investors focused on domestic critical mineral supply chains. The company’s substantial American lithium portfolio makes it attractive to investors seeking exposure to North American lithium development.

What Makes OTCQB Different from Other OTC Markets?

The OTCQB Market serves as the middle tier of US over-the-counter trading platforms, requiring companies to meet specific financial standards and reporting requirements. This regulatory framework provides enhanced investor protection compared to basic Pink Sheet listings.

OTCQB Market Requirements:

• Financial transparency standards ensuring regular reporting.
• Corporate governance criteria maintaining professional standards.
• Regulatory oversight providing investor confidence.
• Institutional accessibility enabling fund participation.
• Enhanced credibility in North American capital markets.

However, the OTCQB offers a cost-effective entry point into US capital markets without the immediate compliance costs associated with major exchange listings. Many OTCQB companies eventually upgrade to NASDAQ or NYSE, making this an important stepping stone.

How Will Dual Listing Impact Share Performance?

The secondary listing creates multiple mechanisms expected to enhance Chariot’s share price performance through increased accessibility and broader investor participation across both markets.

Market Dynamic Changes:

Additionally, the enhanced market dynamics should create improved price discovery mechanisms. With trading occurring across multiple time zones, shareholders may benefit from increased liquidity windows and potentially reduced bid-ask spreads.

What Are Chariot’s Core Lithium Assets?

Chariot maintains a diversified lithium exploration portfolio with particular strength in North American assets that align with the company’s new OTCQB market access.

United States Portfolio:

• Black Mountain Project (Wyoming) – Hard rock lithium prospect with confirmed surface mineralisation.
• Resurgent Project (Nevada/Oregon) – Claystone lithium prospect showing high-grade surface results.
• Six pipeline projects in Wyoming, including Copper Mountain and South Pass developments.

International Holdings:

• Nigerian portfolio comprising four project clusters covering approximately 254 square kilometres.
• Eight exploration licences and two small-scale mining leases in Oyo and Kwara states.
• Southern Cross Greenstone Belt applications covering seven exploration licences in Western Australia.
• Zimbabwe hard rock project (licences currently being relinquished).

Moreover, the Nigerian assets represent one of the largest lithium portfolios in the country with a history of artisanal lithium mining. Chariot anticipates completing this acquisition in the fourth quarter of this calendar year.

Why Is OTCQB a Step Toward NASDAQ?

Management has confirmed this OTCQB listing represents “the first step towards a potential NASDAQ listing in the future.” This pathway provides a structured approach to major exchange access.

NASDAQ Upgrade Requirements:

• Minimum share price of $4.00 for 90 consecutive trading days.
• Financial standards, including $5 million in shareholders’ equity or alternative metrics.
• Shareholder distribution requirements of 300+ round lot shareholders.
• Corporate governance standards alignment with major exchange requirements.

The OTCQB listing enables Chariot to establish trading history in North American markets while demonstrating sustained institutional interest. These factors are considered critical for successful major exchange applications.

Development Timeline Phases:

• Phase 1: OTCQB establishment and North American investor base development.
• Phase 2: Project development milestones and increased trading volumes.
• Phase 3: Potential NASDAQ application based on market conditions.

How Does This Position Chariot in the Lithium Sector?

Chariot’s positioning combines geographic diversification, multiple lithium deposit types, and enhanced market access through its dual-listing structure, creating an attractive investment opportunity.

Market Distinctions:

• Twelve lithium projects across four countries, aiming to reduce jurisdiction risk.
• Hard rock and claystone lithium exposure, diversifying geological risk.
• Surface mineralisation confirmed at Core Projects, reducing initial exploration uncertainty.
• Established mining history in Nigerian assets with artisanal production background.

The company’s dual-listed structure provides investors with flexibility whilst maintaining no dilution from the secondary listing. Executive Chairman and Managing Director Shanthar Pathmanathan has overseen this important development while maintaining focus on core exploration activities.

What are the Near-Term Development Catalysts?

Multiple development milestones position Chariot to leverage its expanded market access, particularly through the OTCQB listing, with several potential value drivers across the diversified portfolio.

Immediate Priorities (Q4 2024 – Q1 2025):

• Complete Nigerian portfolio acquisition, anticipated in fourth quarter 2024.
• Advance Core Project exploration programs, building on high-grade surface results.
• Build institutional relationships through OTCQB platform access.
• Enhanced investor outreach targeting US-based lithium sector specialists.

Development Focus Areas:

• Resource estimation updates from Wyoming and Nevada/Oregon Core Projects.
• Drilling program expansion across highest-priority targets.
• Collaborations with North American battery supply chain participants.
• Feasibility assessments for advanced-stage discoveries.

The global lithium market continues experiencing supply constraints whilst demand growth accelerates through electric vehicle adoption and energy storage deployment. Chariot’s positioning across multiple jurisdictions with dual-market access provides operational flexibility during market development cycles.

Investment Considerations and Risk Factors

Whilst this OTCQB listing provides enhanced opportunities, investors should carefully consider the company’s current development stage and associated risks.

Key Investment Positives:

• Enhanced market access through dual-listing structure.
• Diversified geographic exposure across stable mining jurisdictions.
• Confirmed surface mineralisation at Core Projects, potentially reducing exploration risk.
• Pathway toward major exchange listing.
• No shareholder dilution from secondary listing.

Risk Considerations:

• Exploration-stage company requiring substantial capital for development.
• Nigerian acquisition remains subject to completion.
• Commodity price volatility affecting lithium market conditions.
• Regulatory changes in multiple operating jurisdictions.
• Funding requirements for advancing projects through development stages.

The company’s cash position of $682,000 as at 31 October 2024 and 181,005,534 shares on issue provide a capital structure foundation for development activities.

The Chariot Corporation OTCQB listing represents an important development that is expected to enhance shareholder value through broader market access, increased liquidity, and positioning for a future major exchange listing. With confirmed high-grade surface mineralisation at Core Projects and a diversified international portfolio, Chariot is positioned to benefit from North American investor participation in the growing lithium sector.

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