REG - CleanTech Lithium - Directorate Change

Cleantech LithiumAnnouncement

12/04/2024 07:00

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RNS Number : 3474K  CleanTech Lithium PLC  12 April 2024

12(th) April 2024

 

CleanTech Lithium PLC

("CleanTech Lithium", "CTL" or the "Company")

CEO Resignation

 

 

Following the announcement dated 9(th) April 2024, the Board of Directors of
CleanTech Lithium (AIM:CTL, Frankfurt: T2N, OTCQX: CTLHF), an exploration and
development company advancing lithium projects in Chile, has accepted the
resignation from Mr Aldo Boitano as CEO and director of the Company with
immediate effect.

Steve Kesler will continue as CEO on an interim basis. This will ensure no
impact to the Company's operations including ongoing activities at CTL's most
advanced development project, Laguna Verde. As Executive Chairman, Steve has
been working closely with Mr Boitano and is well placed to ensure ongoing
continuity and progress.

The Company received Mr Boitano's letter of resignation where he apologised
for his actions and the impact to the Company and its shareholders. In the
Company's best interests, the Board of Directors of CleanTech Lithium has
decided that Mr Boitano will work with the Company as a consultant for an
initial period to support the recently announced Special Lithium Operating
Contract ("CEOL") application procedure and relationships with the Chilean
government and local communities. The Company is updating the CEOL
applications for resubmission in accordance with the updated guidance from the
Government, as part of the National Lithium Strategy.

Steve Kesler, Executive Chairman and interim CEO of CleanTech Lithium,
commented:

"The Board of Directors recognises the work done by Mr Aldo Boitano during his
tenure as CEO and thanks Aldo for his contribution since co-founding the
Company. We hold ourselves accountable to the highest governance policies and
the Board has acted decisively and with the duty of care for all our
stakeholders. Having Aldo´s continuing support, on a consulting basis, with
the Company's CEOL resubmissions and with government and local community
relations will ensure continuity in these areas.

"The fundamentals for our lithium brine projects in Chile are strong. We
continue to advance the Laguna Verde project, where we are expecting to finish
our PFS in Q3 2024,  and we will be producing battery-grade product from our
operational DLE pilot plant to send to potential offtakers. Additionally, we
are working towards the successful receipt of the CEOLs for both the Laguna
Verde and Francisco Basin projects."

-ENDS-

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Gordon Stein,
Director and CFO.

 

 For further information contact:

 Celicourt Communications                       +44 (0) 20 7770 6424

 Felicity Winkles/Philip Dennis/Ali AlQahtani   cleantech@celicourt.uk

 Beaumont Cornish Limited                       +44 (0) 207 628 3396

 (Nominated Adviser)

 Roland Cornish/Asia Szusciak

 Canaccord Genuity (Joint Broker)               +44 (0) 207 523 4680

 James Asensio

 Fox-Davies Capital Limited (Joint Broker)      +44 20 3884 8450
 Daniel Fox-Davies                              daniel@fox-davies.com (mailto:daniel@fox-davies.com)

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

About CleanTech Lithium

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and
development company advancing sustainable lithium projects in Chile for the
clean energy transition. Committed to net-zero, CleanTech Lithium's mission is
to produce material quantities of sustainable battery grade lithium products
using Direct Lithium Extraction technology powered by renewable energy. The
Company plans to be a leading supplier of 'green' lithium to the EV and
battery manufacturing market.

CleanTech Lithium has two key lithium projects, Laguna Verde and Francisco
Basin, and hold licences in Llamara and Salar de Atacama, located in the
lithium triangle, a leading centre for battery grade lithium production. The
two major projects: Laguna Verde and Francisco Basin are situated within
basins controlled by the Company, which affords significant potential
development and operational advantages. All four projects have direct access
to existing infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and
reducing the environmental impact of its lithium production by utilising
Direct Lithium Extraction with reinjection of spent brine. Direct Lithium
Extraction is a transformative technology which removes lithium from brine,
with higher recoveries than conventional processes. The method offers short
development lead times with no extensive site construction or evaporation pond
development so there is minimal water depletion from the
aquifer. www.ctlithium.com (http://www.ctlithium.com/)

 

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