Chariot Resources Limited
TSX : CHD

March 14, 2008 17:50 ET

Chariot Resources Limited: Press Release

TORONTO, ONTARIO--(Marketwire - March 14, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Chariot Resources ("Chariot") (TSX:CHD) announced today that it has received a receipt for the final prospectus relating to its recently announced offering of common shares ("Offering"). Under the terms of the Offering, a syndicate of underwriters led by Raymond James Ltd. and including CIBC World Markets Inc. and Thomas Weisel Partners Canada Inc. (the "Underwriters") have agreed to purchase 22,000,000 common shares ("Shares") from Chariot at a price of $1.00 per Share, representing an aggregate offering of $22,000,000. The Underwriters also have an over-allotment option, exercisable at any time prior to 30 days after the closing date, to acquire up to 2,200,000 additional Shares at the issue price. The net proceeds from the Offering will be used for advancement of Chariot's Marcona copper project, working capital, and general corporate purposes. The closing of the Offering is expected to occur on or about March 20, 2008.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

CHARIOT RESOURCES LIMITED

Ulrich (Ulli) Rath, President & CEO

Contact Information

  • Chariot Resources Limited - Toronto, Canada Office
    Ulli Rath
    President and CEO
    (416) 363-4554 or Cell phone: (416) 270-4481