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 $525.8 million in 2021 to nearly $1.4 billion by 2026, showcasing a compound annual growth rate (CAGR) of 20.8%.

"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 95% of lithium demand, with automotive manufacturers setting ambitious electric vehicle targets. Electric vehicles (EVs), which require six times the mineral inputs of conventional cars, will significantly impact lithium-ion battery demand.

"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.”