NEW YORK, NY -- December 8, 2023 -- InvestorsHub NewsWire --
CGrowth Capital Inc. (OTC:
CGRA) is a public holding company for alternative and
undervalued assets. The company is sector and industry agnostic and
currently consists of two divisions including Sports Technology and
Mining. The company is focused on investing in growth-oriented
opportunities where the company's capital,
expertise, and capabilities can help create significant added value
for shareholders.
In early 2023, CGrowth Capital Inc. (CGRA) successfully acquired
rights to 54 individual land tenements in Tanzania, along with
applications for prospecting licenses aimed at exploring potential
lithium reserves. The acquisitions were driven by evidence-based
research, which indicated the presence of significant lithium
deposits on these tenements. The company is now pleased to announce
that results of initial surveys and reports on these tenements have
significantly surpassed expectations. At this point, the company
can announce that 7 of the 54 tenements have exceeded expectations.
Following this encouraging development, CGRA is proud to confirm
that it has been officially granted a four-year prospecting license
by the Ministry of Minerals and the Mining Commission of the United
Republic of Tanzania, covering all 7 selected areas which span a
total of 189.30 square kilometres. The granting of these four-year
prospecting licenses by the Tanzanian authorities not only
validates CGRA's successful initial surveys, but also provides the
company with the necessary legal and regulatory approval to
continue exploration unimpeded and without pause for the next four
years. Shareholders can also expect additional announcements on the
award of further licences within the coming weeks.
Nicolas Link, Chairman of CGRA noted, "This marks completion of
the pre-discovery phase for our company's lithium mining project,
with transition into the value-enhancing discovery phase already
underway. This critical juncture signifies a shift from initial
exploratory activities, such as securing necessary prospecting
licenses and identifying potential mining locations, to intensive
exploration efforts aimed at accurately locating and quantifying
lithium deposits. For our shareholders, this progression represents
a significant reduction in investment risks, as it brings the
project closer to the potential extraction and commercialization of
lithium and significantly increases CGRA's asset value through
these potentially lithium rich deposits."
At this juncture, it is worth highlighting CGRA's current
position in the context of the Lassonde Curve, a well-recognized
model in the mining industry. This model illustrates the
significant growth potential during the discovery stage, a phase
CGRA is now entering. According to the Lassonde Curve, the
discovery stage often marks a substantial increase in a mining
company's value. As CGRA ventures into this exciting phase, there
is an anticipation of not only advancing exploration efforts but
also unlocking a remarkable increase in company valuation.
Therefore, the coming year stands to be a watershed period in
CGRA's journey, offering exceptional opportunities for value
creation and fulfilling the company's pledge to deliver robust
returns for shareholders. For detailed information, including
viewing of the official prospecting licenses and associated formal
documents from the Ministry of Minerals and the Mining Commission,
please visit the investor section of the CGRA mining website.
Further verification of the licenses' issuance and validity is also
accessible on the official Tanzania Mining eGov Portal.
During this licensing process, CGRA Mining established The L
Company Limited as a subsidiary and a locally registered Tanzanian
entity to manage multiple joint venture agreements. This structure
enables CGRA to acquire and maintain a 75% controlling interest in
the individual lithium tenements. As required by the local
government of Tanzania, at least a 25% holding must be retained by
the local land owners. Initially, CGRA had planned to utilize
Subterra Holdings Inc. for the Tanzanian lithium project as
mentioned in its disclosures, however, in order to streamline the
license acquisition process and comply with local regulations, the
decision was made to establish The L Company Limited. As a result,
assets initially earmarked for Subterra Holdings Inc. are now under
the management of The L Company Limited, leading to the dissolution
of Subterra Holdings Inc. CGRA holds a 98% ownership of The L
Company Limited, which is actively managing these joint ventures on
behalf of CGRA's mining operations.
The prospecting licenses granted are for exploring metallic
minerals, particularly lithium, within the Dodoma Urban area in the
central Dodoma region of Tanzania. The licenses enable detailed
exploration and potential extraction of lithium minerals. The
tenements under these licenses are located in various districts,
including Hombolo, Kongwa, Chamwino, and Mohanga. The area in
question records several historical occurrences of sizable lithium
deposits and CGRA's secured prospecting licences are granted for
areas located adjacent to where Tanzania's main reported
occurrences of lithium bearing pegmatite have accrued. As a
reference for investors, an example of currently known lithium
deposits in the region includes the world-class Titan 1 and Titan 2
lithium projects, which are currently being developed by American
Lithium. The deposit has an inferred resource of 2.0 billion
tonnes, grading 0.4% lithium oxide, a net present value of $2.1
billion, and an internal rate of return of 35%. While this data
does not necessarily guarantee The L Company's potential, it offers
a useful point of reference for the area where CGRA is conducting
its exploration.
"We are extremely encouraged by the promising indications of
significant lithium deposits in the Dodoma region and its various
districts. The discovery and development of the Titan 1 and Titan 2
lithium deposits by American Lithium in the Kilimanjaro region
underscores the immense potential of our own prospecting
endeavours. With the world-class Titan deposit as a benchmark, we
are optimistic about the lucrative prospects of our licensed areas
and the significant long-term revenue potential which they possess.
With the global demand for lithium set to outstrip supply by 2025,
we are confident that our strategic investment in this lithium-rich
region will yield significant returns for our shareholders,"
commented Mr. Link.
CGRA's first formal reports, which include the initial findings
showing very promising results, have been completed by independent
competent persons as specified by the industry standards of JORC,
SAMREC, and ISO N143-101. Therefore, the company has decided to
release these reports with comprehensive explanations and detailed
dissemination. This preparation is crucial to ensure that both
current and prospective mining investors fully understand the
report's implications, maximizing value for shareholders. Given the
complexities and variables in lithium extraction, which
significantly affect potential, costs, and value, CGRA believes
it's essential to present this information in a clear and
meaningful manner. While the management team understands the
eagerness of shareholders to access the reports, and the company's
own readiness to share this data, setting the stage correctly is
key for ensuring the information is understandable, verifiable, and
transparent. This approach is as important for maximizing value as
it is for the building and maintaining of trust with current and
prospective shareholders.
At a time of heightened scepticism and widespread distrust
across the OTC markets, CGRA feels it important to provide credible
and verifiable data that clearly demonstrates the progress the
company has made. With this commitment in mind, the company plans
to release several additional significant announcements in the
coming weeks. These announcements will include the release of our
initial reports, accompanied by visuals and graphics that
comprehensively explain the key highlights, as well as the
significant milestones accomplished by the company over the past
year.
For regular CGrowth Capital (CGRA) updates, you are invited to
view the company's website and/or to follow
the company's Twitter account:
Website: https://cgrowthcapital.com
Twitter: @CGRAOTC
Contact: info@cgrowthcapital.com
Source: CGRA
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
forward-looking statements. Although forward-looking statements
contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, in light of the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels: Twitter: @CGRAOTC
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