Chilwa Minerals lists on Nasdaq and raises US$3.5 million

Chilwa Minerals Limited, an Australian mineral exploration company, has announced its listing on the Nasdaq Capital Market. The company successfully priced an underwritten public offering that raised approximately US$3.5 million.

The offering consists of 625,000 American Depositary Shares (ADS), with each ADS representing 10 ordinary shares. The shares were priced at US$5.60 per ADS and include one warrant per ADS, exercisable at the same price for five years. The company's ordinary shares will continue to trade on the Australian Securities Exchange (ASX).

Net proceeds are intended to fund mineral exploration activities at the Chilwa Critical Minerals Project in Malawi, bolster working capital, and support general corporate purposes. Maxim Group LLC served as the sole book-running manager and underwriter. The ADS are expected to begin trading under the symbol ‘CHWM’ on October 1, 2026.