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 Funds1, 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.

1Regal 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

Felicity Winkles/Philip Dennis/Ali AlQahtani

+44 (0) 20 7770 6424

cleantech@celicourt.uk

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish/Asia Szusciak

+44 (0) 20 7628 3396

Fox-Davies Capital Limited (Sole Broker and Bookrunner)

+44 (0) 20 3884 8450

Daniel Fox-Davies

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

Source

Click here to connect with CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF, Frankfurt:T2N), to receive an Investor Presentation