REG - CleanTech Lithium - Update to Certain Laguna Verde Licence Payments

Cleantech LithiumAnnouncement

20/10/2025 07:00

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RNS Number : 9978D  CleanTech Lithium PLC  20 October 2025

20 October 2025

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

Update to Certain Laguna Verde Licence Payments

CleanTech Lithium PLC (AIM: CTL, Frankfurt: T2N), an exploration and
development company advancing sustainable lithium projects in Chile, provides
the following update in relation to the 23 Laguna Verde Licence Payments that
form the sale and purchase agreement ("LV Purchase Agreement") executed in
April 2024.

Highlights:

·    In April 2024, the Company's subsidiary company CleanTech Laguna
Verde SpA ("CLV SpA") entered into a sale and purchase agreement with the
Laguna Verde Option Vendors ("Vendors") to acquire 23 licences (the "Laguna
Verde Option Licences") out of the then total 108 licences comprising the
Laguna Verde project. The Company currently owns in total 160 licences
covering the Laguna Verde project.

·    A payment structure was established based on the Company reaching
certain milestones and within certain timeframes.

·    While the first payment was made on the execution of the LV Purchase
Agreement, the Company has chosen not to make the second and third payments at
this time. Please refer to the RNS' dated 22(nd) April 2024 and 22(nd) October
2024 for further details.

·    Deferring the payments does not directly impact the Company's
ownership of licences at Laguna Verde although the Vendors could gain a
minority interest, should they request this, in CLV SpA that holds the Laguna
Verde Option Licences and the Company can at any point pay the outstanding
amount with interest and recover 100% ownership of the shares.

·    This will not impact the Company's future CEOL application for Laguna
Verde and the indigenous consultations which are in the process of being
concluded.

·    The Company will seek to engage with the Vendors of the relevant
licence blocks and will update the market in due course.

Ignacio Mehech, Chief Executive Officer, CleanTech Lithium PLC, said: "This
update does not impact our licence holding position at Laguna Verde or our
ongoing progress toward securing the CEOL for the project. We remain focused
on advancing through the streamlined application process, which we expect to
enter in the coming months following the completion of the Government's
indigenous consultations. We will engage constructively with the Vendors
regarding the relevant licence blocks and will update the market as
discussions progress."

Background on agreement

On 19(th) April 2024, CLV SpA, a wholly owned subsidiary of CleanTech Lithium
Plc, entered into the LV Purchase Agreement to acquire 100% of an additional
23 mining licences at Laguna Verde, replacing the previous option agreement.
There is currently a total of 160 licences at Laguna Verde under ownership by
the Company. The total consideration for the Laguna Verde Option Licences of
US$35 million comprises US$10.5 million in fixed payments over five years and
US$24.5 million in deferred milestone payments linked to production levels or
the 10(th) anniversary of the LV Purchase Agreement. The first US$1.25 million
payment was made on execution, while the Board has chosen not to proceed with
the second and third payments at this time. Due to this, up to 49% of CLV SpA
shares may transfer to the Vendors meaning they would hold a minority stake in
the CLV SpA subsidiary, should the Vendors request this. This will ultimately
have no material economic impact on CleanTech Lithium as the Company retains
the right to buy back any transferred shares.

CTL's holding of the Laguna Verde Option Licences is not affected by this
update and the Company retains 100% ownership of the licences which may form
part of the CEOL application which CleanTech Lithium plans to submit to the
Chilean Government once the indigenous consultations, which commenced in early
August, have concluded  and the Government has announced a new stream-lined
process for Laguna Verde.

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 Steve Kesler,
Director and Chairman.

 

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

                                               Mobile: +44 (0) 7494 630 360

                                               Chile office: +562-32239222
 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Fox-Davies Capital Limited (Broker)           +44 (0) 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.

 

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

 

 

**ENDS**

 

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