Tantalex Lithium Announces Private Placement and Management Changes
Toronto, Ontario -- March 21, 2025 -- NewsGenie -- Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) has announced a non-brokered private placement to raise up to USD$1,500,000 through the issuance of approximately 86,000,000 common shares at CDN$0.025 each. The final number of shares may vary based on currency exchange rates.
Proceeds from the private placement will fund project expenditures for optimizing the TiTan tin and tantalum plant and for general working capital. Insiders, including director Simon Collins and Afrimet Resources Ag, may participate in the offering, which would be considered a "related party transaction" but is expected to be exempt from certain regulatory requirements due to its size.
The company also announced management changes, with Eric Allard stepping down as CEO, President, and Director, and Richard Creitzman assuming the role of interim CEO. Hadley Natus will become non-executive Chairman, and Yves Kabongo has resigned as Director. André Holtzhausen joins the Board and will oversee the TiTan plant's production, maintenance, and optimization efforts.
Tantalex Lithium is focused on the exploration, development, and distribution of lithium, tin, tantalum, and other high-tech minerals in Africa. Its primary focus is on operating the TiTan plant and developing lithium assets in the Democratic Republic of Congo.
The Board of Directors is evaluating candidates to fill the vacant director position and appoint a permanent CEO.