REG - CleanTech Lithium - Results of Placing, PDMR Dealing & TVR

Cleantech LithiumAnnouncement

09/10/2024 07:15

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RNS Number : 5088H  CleanTech Lithium PLC  09 October 2024

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").

09 October 2024

CleanTech Lithium PLC

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

Results of Placing, PDMR Dealing and Total Voting Rights

CleanTech Lithium PLC ("CTL", "CleanTech Lithium" or the "Company"), an
exploration and development company advancing lithium projects in Chile for
the clean energy transition, is pleased to announce the results of the Placing
announced on 8 October 2024, which was oversubscribed and scaled back.

Results of the Placing

The Placing raised gross proceeds of £2.5 million through the issue of
22,727,266 new ordinary shares ("Placing Shares") at an Issue Price of 11
pence per share. The net proceeds from the Placing will be applied to CTL's
flagship project, Laguna Verde, and critical work programmes to produce
battery-grade lithium carbonate for potential strategic partners to test, and
for general working capital requirements.

The Placing Shares represent approximately 13.54 per cent. of the Company's
enlarged ordinary share capital following the Admission of the Placing Shares
to trading on the AIM market of the London Stock Exchange ("AIM"). This has
been a necessary interim fundraising as the Company pursues its dual listing
on the Australian Securities Exchange ("ASX").

Related Party

As a part of the Placing and on the same terms as all other placees, Regal
Funds(1), which is currently interested in approximately 15 per cent. of the
Company's issued share capital and therefore a Related Party under the AIM
Rules, has agreed to subscribe for 1,727,272 Placing Shares. As such, Regal
Funds participation is a Related Party Transaction for the purposes of Rule 13
of the AIM Rules. Accordingly, the Directors of the Company, all independent,
consider, having consulted with Beaumont Cornish Limited, the Company's
Nominated Adviser, that the terms of the subscription by Regal Funds are fair
and reasonable insofar as the Company's shareholders are concerned.

(1)Regal Funds comprising Regal Funds Management Pty Limited and its
associates (including Regal Partners Limited, of which Regal Funds Management
Pty Limited is a wholly owned subsidiary) which act as trustee and investment
advisor for certain funds

Directors Participation

Furthermore, Tommy McKeith, a director of the Company, has participated in the
Placing by subscribing for 454,545 Placing Shares for an aggregate value of
£50,000. Accordingly, Tommy McKeith is now interested in 909,091 Ordinary
Shares representing 0.54 per cent. of the Company's enlarged ordinary share
capital following the Admission of the Placing Shares.

Broker Warrants

In connection with the Placing 1,389,388 Broker Warrants have been issued
exercisable at a price equal to the Issue Price up until five years from their
date of grant, being the date of completion of the Placing.

Admission and Trading

The Placing remains conditional on the admission of the Placing Shares to
trading on AIM becoming effective ("Admission"). It is expected that Admission
will occur at 8.00 a.m. on 14 October 2024.

Total voting rights

Following Admission, the Company will have a total of 167,889,592 Ordinary
Shares in issue. With effect from Admission, this figure may be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in the Company, under the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority. Words and expressions defined in the
Company's announcement of 8 October 2024 shall have the same meaning in this
announcement.

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

"Thank you to all the investors that have supported CleanTech Lithium in the
latest Placing. We are delighted to see the return of existing shareholders
and welcome new shareholders who have shown, despite difficult market
conditions, their confidence in the Company as we develop responsibly sourced
lithium in Chile via Direct Lithium Extraction.

The new funds will be focused on the Laguna Verde project and producing
battery-grade lithium carbonate for potential strategic partners as well as
maintaining our active engagement with indigenous communities whilst we pursue
the dual listing in Australia.

Investors will know we have been one of the most active companies in Chile
using DLE to establish ourselves as a leading lithium explorer and developer.
We are completely aligned to Chile's National Lithium Strategy which aims to
forge public-private partnerships with sustainable technologies leading the
way for lithium extraction in the country.

Our Board would like to take this opportunity to thank all the investors for
providing the funding for the Company to meet our planned milestones over the
coming months and so deliver value to all our stakeholders."

 For further information contact:

 CleanTech Lithium PLC
 Steve Kesler/Gordon Stein/Nick Baxter                    Jersey office: +44 (0) 1534 668 321

                                                          Chile office: +562-32239222
                                                          Or via Celicourt
 Celicourt Communications                                 +44 (0) 20 7770 6424

 Felicity Winkles/Philip Dennis/Ali AlQahtani             cleantech@celicourt.uk (mailto:cleantech@celicourt.uk)
 Beaumont Cornish Limited (Nominated Adviser)             +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Fox-Davies Capital Limited (Sole Broker and Bookrunner)  +44 (0) 20 3884 8450
 Daniel Fox-Davies                                        daniel@fox-davies.com (mailto:daniel@fox-davies.com)

 

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 in Chile, Laguna Verde and
Viento Andino, 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 Viento Andino 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 extraction 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/)

Appendix 1

 

Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons

     Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                             Tommy McKeith
 2   Reason for notification
 a)  Position / status                                                Non-Executive Director
 b)  Initial notification/Amendment                                   Initial
 3   Details of the issuer, emission allowance market participant,
     auction platform, auctioneer or auction monitor
 a)  Name                                                             CleanTech Lithium Plc
 b)  LEI                                                              213800Y3TN5JQCDA9U59
 4   Details of the transaction(s):
     section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date;
     and (iv) each place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument      Ordinary Shares of GBP 0.01

     Identification code

                                                                      ISIN: JE00BPCP3Z37
 b)  Nature of the transaction                                        Share subscription
 c)  Price(s) and volumes(s)

         Price(s)  Volumes(s)
                                                                      Ordinary Shares  11p       454,545
 d)  Aggregated information

     Aggregate volume                                                  N/A

     Price(s)
 e)  Date of the transaction                                          2024-10-09
 f)  Place of the transaction                                         Outside a trading venue

d)

Aggregated information

Aggregate volume

Price(s)

 

 N/A

e)

Date of the transaction

2024-10-09

f)

Place of the transaction

Outside a trading venue

 

 

Important Notice

This announcement includes "forward-looking statements" which include all
statements other than statements of historical fact, including, without
limitation, those regarding the Company's financial position, business
strategy, plans and objectives of management for future operations, or any
statements preceded by, followed by or that include the words "targets",
"believes", "expects", "aims", "intends", "will", "may", "anticipates",
"would", "could" or similar expressions or negatives thereof. Such
forward-looking statements involve known and unknown risks, uncertainties and
other important factors beyond the Company's control that could cause the
actual results, performance or achievements of the Group to be materially
different from future results, performance or achievements expressed or
implied by such forward-looking statements. Such forward-looking statements
are based on numerous assumptions regarding the Company's present and future
business strategies and the environment in which the Company will operate in
the future. These forward-looking statements speak only as at the date of this
document. The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company's expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by applicable law or
the AIM Rules.

 

Nothing contained herein shall be deemed to be a forecast, projection or
estimate of the future financial performance of the Company or any other
person following the implementation of the Placing or otherwise.

 

The price of shares and the income from them may go down as well as up and
investors may not get back the full amount invested on disposal of the shares.
Past performance is no guide to future performance and persons who require
advice should consult an independent financial adviser.

 

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 Bookrunner 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 Bookrunner 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 Bookrunner for the Company and no one
else in connection with the Placing and will not be responsible to anyone
(including any Places) 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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