REG - CleanTech Lithium - Legal action against subsidiary of CleanTech

Cleantech LithiumAnnouncement

01/12/2025 07:00

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RNS Number : 5412J  CleanTech Lithium PLC  01 December 2025

01 December 2025

CleanTech Lithium PLC ("CleanTech Lithium" or the "Company")

Legal action against subsidiary of CleanTech Lithium

 

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N), an exploration and
development company advancing sustainable lithium projects in Chile, notes a
legal claim has been made by the vendors of 23 mining concessions at Laguna
Verde acquired by its wholly owned subsidiary, CleanTech Laguna Verde SpA
("CLV"), pursuant to a sale and purchase agreement ("SPA") announced on 22
April 2024.

On 24 November 2025 the directors became aware that a legal action has been
brought against CLV in Chile with the purpose of seeking payment of the second
instalment under the SPA.  The payment was initially delayed (as announced 22
October 2024), but the ongoing delay in making that payment has given rise to
the claim.

CLV was not legally served with the claim, and so court proceedings were held
without CLV's knowledge or presence, preventing an opportunity to defend
against it. In CLV's absence, a judgement from those proceedings was passed
which awarded a lien over the issued share capital of CLV.

CLV has submitted a petition before the relevant court seeking the annulment
of the proceeding, based on improper service of the lawsuit, aiming to ensure
due process of the law. The directors are confident that this petition will be
resolved favourably.

The directors are satisfied that non-payment of the second instalment has no
bearing on its application for the special lithium operating contract ("CEOL")
for Laguna Verde, which is to be applied for through a different CleanTech
subsidiary when the process recommences.

 For further information contact:
 CleanTech Lithium PLC
 Ignacio Mehech/Gordon Stein/Nick Baxter       Jersey office: +44 (0) 1534 668 321

 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Fox-Davies Capital Limited (Joint Broker)     +44 (0) 20 3884 8450

 Daniel Fox-Davies                             daniel@fox-davies.com (mailto:daniel@fox-davies.com)
 Canaccord Genuity (Joint Broker)              +44 (0) 20 7523 4680

 James Asensio

 

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.

 

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development
company advancing lithium projects in Chile for the clean energy transition.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and
Viento Andino, and exploration stage project in Arenas Blancas (Salar de
Atacama), located in the lithium triangle, a leading centre for battery grade
lithium production.

CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE")
with reinjection of spent brine resulting in no aquifer depletion. Direct
Lithium Extraction is a transformative technology which removes lithium from
brine with higher recoveries, short development lead times and no extensive
evaporation pond construction. For more information, please
visit: www.ctlithium.com (http://www.ctlithium.com/)

**ENDS**

 

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