Profitable Placement

CleanTech Lithium PLC (“CTL”, “CleanTech Lithium” or the “Firm”), an exploration and growth firm advancing lithium initiatives in Chile for the clear power transition, is happy to announce the outcomes of the Putting introduced on 8 October 2024, which was oversubscribed and scaled again.

Outcomes of the Putting

The Putting raised gross proceeds of £2.5 million via the difficulty of twenty-two,727,266 new strange shares (“Putting Shares“) at an Situation Value of 11 pence per share. The web proceeds from the Putting shall be utilized to CTL’s flagship challenge, Laguna Verde, and important work programmes to provide battery-grade lithium carbonate for potential strategic companions to check, and for common working capital necessities.

The Putting Shares symbolize roughly 13.54 per cent. of the Firm’s enlarged strange share capital following the Admission of the Putting Shares to buying and selling on the AIM market of the London Inventory Alternate (“AIM“). This has been a essential interim fundraising because the Firm pursues its twin itemizing on the Australian Securities Alternate (“ASX“).

Associated Occasion

As part of the Putting and on the identical phrases as all different placees, Regal Funds¹, which is at present curious about roughly 15 per cent. of the Firm’s issued share capital and subsequently a Associated Occasion underneath the AIM Guidelines, has agreed to subscribe for 1,727,272 Putting Shares. As such, Regal Funds participation is a Associated Occasion Transaction for the needs of Rule 13 of the AIM Guidelines. Accordingly, the Administrators of the Firm, all unbiased, contemplate, having consulted with Beaumont Cornish Restricted, the Firm’s Nominated Adviser, that the phrases of the subscription by Regal Funds are truthful and cheap insofar because the Firm’s shareholders are involved.

¹Regal Funds comprising Regal Funds Administration Pty Restricted and its associates (together with Regal Companions Restricted, of which Regal Funds Administration Pty Restricted is a completely owned subsidiary) which act as trustee and funding advisor for sure funds

Administrators Participation

Moreover, Tommy McKeith, a director of the Firm, has participated within the Putting by subscribing for 454,545 Putting Shares for an combination worth of £50,000. Accordingly, Tommy McKeith is now curious about 909,091 Strange Shares representing 0.54 per cent. of the Firm’s enlarged strange share capital following the Admission of the Putting Shares.

Dealer Warrants

In reference to the Putting 1,389,388 Dealer Warrants have been issued exercisable at a worth equal to the Situation Value up till 5 years from their date of grant, being the date of completion of the Putting.

Admission and Buying and selling

The Putting stays conditional on the admission of the Putting Shares to buying and selling on AIM changing into efficient (“Admission“). It’s anticipated that Admission will happen at 8.00 a.m. on 14 October 2024.

Complete voting rights

Following Admission, the Firm may have a complete of 167,889,592 Strange Shares in challenge. With impact from Admission, this determine could also be utilized by shareholders because the denominator for the calculations by which they’ll decide if they’re required to inform their curiosity in, or a change to their curiosity within the Firm, underneath the Disclosure Steering and Transparency Guidelines of the Monetary Conduct Authority. Phrases and expressions outlined within the Firm’s announcement of 8 October 2024 shall have the identical which means on this announcement.

Steve Kesler, Govt Chairman and Interim CEO of CleanTech Lithium Plc, commented:

“Thanks to all of the buyers which have supported CleanTech Lithium within the newest Putting. We’re delighted to see the return of present shareholders and welcome new shareholders who’ve proven, regardless of troublesome market circumstances, their confidence within the Firm as we develop responsibly sourced lithium in Chile by way of Direct Lithium Extraction.

The brand new funds shall be centered on the Laguna Verde challenge and producing battery-grade lithium carbonate for potential strategic companions in addition to sustaining our lively engagement with indigenous communities while we pursue the twin itemizing in Australia.

Buyers will know we’ve been one of the vital lively corporations in Chile utilizing DLE to determine ourselves as a number one lithium explorer and developer. We’re utterly aligned to Chile’s Nationwide Lithium Technique which goals to forge public-private partnerships with sustainable applied sciences main the way in which for lithium extraction within the nation.

Our Board want to take this chance to thank all of the buyers for offering the funding for the Firm to satisfy our deliberate milestones over the approaching months and so ship worth to all our stakeholders.”

CleanTech Lithium:

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and growth firm advancing sustainable lithium initiatives in Chile for the clear power transition. Dedicated to net-zero, CleanTech Lithium’s mission is to provide materials portions of sustainable battery grade lithium merchandise utilizing Direct Lithium Extraction expertise powered by renewable power. The Firm plans to be a number one provider of ‘inexperienced’ lithium to the EV and battery manufacturing market.

CleanTech Lithium has two key lithium initiatives in Chile, Laguna Verde and Viento Andino, and maintain licences in Llamara and Salar de Atacama, situated within the lithium triangle, a number one centre for battery grade lithium manufacturing. The 2 main initiatives: Laguna Verde and Viento Andino are located inside basins managed by the Firm, which affords vital potential growth and operational benefits. All 4 initiatives have direct entry to present infrastructure and renewable energy.

CleanTech Lithium is dedicated to utilizing renewable energy for processing and decreasing the environmental affect of its lithium manufacturing by utilising Direct Lithium Extraction with reinjection of spent brine. Direct Lithium Extraction is a transformative expertise which removes lithium from brine, with greater recoveries than standard extraction processes. The strategy provides brief growth lead occasions with no intensive website building or evaporation pond growth so there may be minimal water depletion from the aquifer. www.ctlithium.com

Supply

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