A brand new ASX lithium share is due to hit ASX boards very soon.
Patriot Battery Metals Inc is due to trade on the ASX next week under the ticker PMT.
The company is led by CEO Blair Way, an experienced international executive. Former Pilbara Minerals CEO Ken Brinsden is the non-executive chairman and a director of Patriot Battery Metals.
Patriot is already listed overseas in Canada on the TSX Venture Exchange as (TSX-V: PMET). Patriot shares soared 8.81% to CAD $8.15 overnight. The company also has two further listings: (OTCQB: PMETF) and (FSE: R9GA).
Lithium explorer
Patriot Battery Metals is exploring the 100% owned Corvette Property in the James Bay region of Quebec.
The company says this land hosts "significant lithium potential". Six distinct clusters of lithium pegmatite have been discovered at the property to date.
Earlier this month, Patriot advised the first hole of the 2022 drill program was completed on 24 October. Another drill program will start in early January 2023. Drill rigs are already at the site.
Patriot also owns the Freeman Creek Gold Property in Idaho, USA. This is said to host two prospective gold prospects.
Other assets include the Pontax Lithium-Gold property and a 40% stake in the Hidden Lake Lithium Property.
Brinsden joined the Patriot team in August. He said:
There is so much to like about the Corvette property, with work to-date demonstrating both local and regional potential for a large-scale project ideally placed within the emerging Nth American lithium raw materials supply chain.
Initial Public Offering
Patriot advised yesterday it has completed an initial public offering on the ASX of 7,000,000 CHESS Depository Interests priced at 60 cents per share. This has raised $4.2 million. The company said it has received approval, subject to usual conditions, to list on the ASX.
The company said:
Patriot is working with ASX to meet the listing conditions and it is expected that trading in Patriot's CDIs (assigned a code of "PMT") on the ASX will commence on a normal settlement basis on December 7, 2022.
Patriot is expecting to receive and analyse assay results from its exploration projects after the ASX listing. The company plans to make further announcements in the coming weeks.
