TIDMCTL
RNS Number : 6895D
CleanTech Lithium PLC
21 October 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC
OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE
UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018
("MAR").
CleanTech Lithium PLC
("CleanTech" or the "Company")
Results of Fundraising
CleanTech Lithium PLC ("CTL", "CleanTech Lithium" or the
"Company"), a company involved in the exploration and development
of three lithium projects in Chile, is pleased to announce the
successful completion of the Placing and Retail Offer (together the
"Fundraising") announced on 20(th) October 2022 (the "Launch
Announcement"), conditional inter alia on shareholder approval. The
Fundraising raised gross proceeds of approximately GBP 12.3 million
and was upsized due to investor demand.
Results of the Fundraising
A total of 25,531,915 Placing Shares will be issued to new and
existing institutional investors pursuant to the Placing by
Fox-Davies Capital Limited and Canaccord Genuity Limited (together
the "Joint Bookrunners"), at the Issue Price. In addition, 568,343
Retail Offer Shares will be issued to retail shareholders who
subscribed through the PrimaryBid platform at the Issue Price
pursuant to the Retail Offer.
A total of 26,100,258 Fundraising Shares will therefore be
issued pursuant to the Fundraising representing approximately 24.83
per cent. of the Company's enlarged ordinary share capital
following Admission.
The Issue Price represents a 3.98 per cent. discount to the
10-day VWAP on 19 October 2022.
The Fundraising Shares will, when issued, be credited as fully
paid and will rank pari passu in all respects with the existing
Ordinary Shares of the Company, including the right to receive all
dividends or other distributions made, paid or declared in respect
of such shares after the date of issue of the Fundraising
Shares.
General Meeting and Posting of Circular
The Fundraising is subject to shareholder approval at the
General Meeting ("GM"), expected to be held on 14 November 2022.
The Company expects to publish, on or about 24 October 2022, a
shareholder circular to convene the General Meeting and a further
announcement will be made in due course.
Admission and Trading
Application will be made to London Stock Exchange for the
Fundraising Shares to be admitted to trading on AIM. It is
currently expected that Admission will become effective, and
trading of the Fundraising Shares will commence on AIM, at 8.00
a.m. on 16 November 2022.
Words and expressions defined in the Launch Announcement shall
have the same meaning in this announcement.
Aldo Boitano, Chief Executive Officer of CleanTech Lithium Plc,
commented:
"We are delighted at the outcome of the Placing which was
oversubscribed and undertaken at a time of very difficult market
conditions. We have secured some terrific new names on our share
register and have also received excellent support from some of our
current shareholders who have invested again in this round, some
increasing their stake in the Company. We are very grateful for
this support and believe this demonstrates the confidence of
investors in our plans to deliver material growth for the Company
over the coming years.
The new funds will enable the Company to progress our resource
evaluation programmes on all three of our projects and will also
allow us to undertake additional drilling activities at Llamara,
should we have success on the exploration well. We are excited
about the possibilities on that opportunity and should be reporting
the results of the three drilling campaigns in Q1 2023 and Q2 2023,
hopefully providing upgrades to our overall resource base, with
more resource being categorised as Measured and Indicated. The new
funds will also allow us to complete the important technical work
being progressed on the EIA, Scoping and Hydrogeology Studies, and
also on the Laguna Verde PFS when commenced in the near future.
Our Board is looking forward to the future with confidence and
the new funds will provide the financial firepower to help us
achieve our goals and deliver the increase in shareholder value we
believe is possible."
For further information visit www.ctlithium.com or contact
the following:
CleanTech Lithium PLC
Aldo Boitano Jersey office: +44 (0) 1534
Gordon Stein 668 321
Chile office: +562-32239222
Or via Celicourt
Celicourt Communications +44 (0) 20 8434 2754
Felicity Winkles/Philip Dennis cleantech@celicourt.uk
Beaumont Cornish Limited
(Nominated Adviser)
Roland Cornish +44 (0) 207 628 3396
Fox-Davies Capital Limited
(Joint Broker & Bookrunner) +44 20 3884 8450
Daniel Fox-Davies daniel@fox-davies.com
Canaccord Genuity Limited
(Joint Broker & Bookrunner)
James Asensio
Gordon Hamilton
Sam Lucas +44 (0) 207 523 4680
Expected Timetable of Principal Events
The times and dates set out below are subject to change, and may
be adjusted by the Company in consultation with the Joint
Bookrunners. The timetable below also assumes that the Resolutions
are passed at the GM without adjournment. In the event of any
significant changes from the below expected timetable, details of
the new times and dates will be notified to Shareholders by an
announcement on a Regulatory Information Service.
2022
General Meeting 10.00 a.m. on 14
November
Expected time of announcement of results Afternoon of 14 November
of the General Meeting
Admission effective and dealings in the 8.00 a.m. on 16 November
Fundraising Shares expected to commence
on AIM
Expected date for crediting of the Fundraising 8.00 a.m. on 16 November
Shares in uncertificated form to CREST stock
accounts
------------------------------------------------ -------------------------
CleanTech Lithium:
CleanTech Lithium (AIM:CTL) is an exploration and development
company, advancing the next generation of sustainable lithium
projects in Chile. The Company's mission is to produce material
quantities of battery grade lithium with near zero carbon emissions
and low environmental impact, offering the EU EV market a green
lithium supply solution.
CleanTech Lithium has two prospective lithium projects in Chile
- Laguna Verde and Francisco Basin projects located in the lithium
triangle, the world's centre for battery grade lithium production.
They are situated within basins entirely controlled by the Company,
which affords significant potential development and operational
advantages. The projects have direct access to excellent
infrastructure and renewable power. The Company has also further
applied for an additional 119 exploration licences at Llamara, as a
low cost and commitment greenfield project to complement the
existing more advanced projects.
CleanTech Lithium is committed to using renewable power for
processing and reducing the environmental impact of its lithium
production by utilising Direct Lithium Extraction (DLE). DLE is a
transformative technology which only removes lithium from brine,
with higher recoveries and purities. The method offers short
development lead times, low upfront capex, with no extensive site
construction and no evaporation pond development so there is no
water depletion from the aquifer or harm to the local
environment.
Important Notice
The distribution of this announcement and the offering of the
Placing Shares in certain jurisdictions may be restricted by law.
No action has been taken by the Company or the Joint Bookrunners
that would permit an offering of such shares or possession or
distribution of this announcement or any other offering or
publicity material relating to such shares in any jurisdiction
where action for that purpose is required. Persons into whose
possession this announcement comes are required by the Company and
the Joint Bookrunners to inform themselves about, and to observe,
any such restrictions.
This announcement is not for release, publication or
distribution, in whole or in part, directly or indirectly, in or
into Australia, Canada, Japan or the Republic of South Africa or
any jurisdiction into which the publication or distribution would
be unlawful. This announcement is for information purposes only and
does not constitute an offer to sell or issue or the solicitation
of an offer to buy or acquire shares in the capital of the Company
in Australia, Canada, Japan, New Zealand, the Republic of South
Africa or any jurisdiction in which such offer or solicitation
would be unlawful or require preparation of any prospectus or other
offer documentation or would be unlawful prior to registration,
exemption from registration or qualification under the securities
laws of any such jurisdiction.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No
public offering of securities is being made in the United
States.
Fox-Davies Capital Limited is authorised and regulated by the
FCA in the United Kingdom and is acting as joint bookrunner
exclusively for the Company and no one else in connection with the
Placing and will not be responsible to anyone (including any
Placees) other than the Company for providing the protections
afforded to its clients or for providing advice in relation to the
Placing or any other matters referred to in this announcement.
Canaccord Genuity Limited is authorised and regulated by the FCA
in the United Kingdom and is acting as joint bookrunner exclusively
for the Company and no one else in connection with the Placing and
will not be responsible to anyone (including any Placees) other
than the Company for providing the protections afforded to its
clients or for providing advice in relation to the Placing or any
other matters referred to in this announcement.
Beaumont Cornish Limited, which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is acting as
nominated adviser to the Company in relation to the Placing and is
not acting for any other persons in relation to the Placing.
Beaumont Cornish Limited is acting exclusively for the Company and
for no one else in relation to the matters described in this
announcement and is not advising any other person and accordingly
will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of
this announcement or any matter referred to in it.
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END
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