CGrowth Capital Targets Lithium Boom with Major Tanzanian Investment
NEW YORK, NY, May 18, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – CGrowth Capital Inc. (OTC: CGRA) is a public holding company for alternative and undervalued assets. The company is sector and industry agnostic and is solely focused on investing in growth-oriented opportunities where the company’s capital, expertise, and capabilities can help create significant added value for shareholders.
CGrowth Capital Inc. is delighted to announce the acquisition of a series of highly promising lithium tenements in Tanzania, marking a significant step forward for the company's entry into the lithium market. This strategic move positions CGRA as a key player in the global supply of critical minerals. Tanzania’s rich lithium reserves offer immense potential, and CGRA is excited to tap into this resource to meet the growing demand for lithium in the renewable energy sector. This acquisition signifies a major milestone in CGRA’s journey toward creating and delivering significant added value and strong returns for shareholders.
The lithium market, often referred to as 'white gold,' presents a formidable opportunity. As a key driver in the global energy transition, lithium has seen its demand skyrocket. The market is estimated to surge from
"Lithium is the linchpin of the green energy revolution, and its demand is set to increase exponentially," commented Mitchell Smith, CEO of CGrowth Capital Inc. "Our venture into lithium mining in Tanzania is timed perfectly to capture this growth wave, promising substantial returns for our shareholders.”
In the coming years, batteries are expected to account for
"We're committed to positioning CGRA at the forefront of this global shift," stated Nicolas Link, Chairman of CGRA. "Our strategic commitment to this essential metal underpins our commitment to driving shareholder value, fostering sustainable growth, and shaping our leadership in the global mining industry.”
The company's investment in Tanzania, a region rich in lithium resources, has led to the acquisition of the Hombolo Lithium Project. Comprising of 17 prospecting licenses and 37 primary mining licenses across 435.3 square kilometers, the project offers significant potential for long-term revenue. "We are extremely encouraged by the promising indications of significant lithium deposits in the area," Smith noted. "We remain hugely optimistic about this sizable site becoming a significant source of long-term revenue.”
As part of its strategic plan, CGRA will commence a comprehensive series of geological surveys to identify prospective mining sites within the project area. "With the global demand for lithium set to outstrip supply by 2025, we are confident that our strategic investments will yield significant returns for our shareholders,” concluded Link.
The timing of this acquisition coincides with the recent landmark visit of US Vice President Kamala Harris to Tanzania, further highlighting the strategic importance of the region in the global supply of critical minerals. "The Vice President's visit signals the recognition of Tanzania's potential as a critical supplier of metals essential for the green energy revolution," stated Smith. "This development aligns perfectly with our acquisition, enhancing the potential returns for our shareholders.”
"US Vice President Harris's visit to Tanzania is indicative of the increasing geopolitical importance of critical minerals and the role they play in the drive towards renewable energy. Her visit strengthens the credibility of CGRA’s strategic vision and the potential of its latest acquisition. We are excited about the global recognition of Tanzania as a key player in the minerals sector, and we look forward to contributing to a greener future,” said Nick Link.
The launch of this lithium-focused acquisition marks a pivotal moment in CGRA’s growth trajectory. The company is now perfectly positioned to seize upon the booming global demand for lithium. "With the global demand for lithium set to outstrip supply by 2025, we are confident that our strategic investments will yield significant returns for our shareholders,” concluded Link.
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
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