CleanTech Lithium PLC
("CleanTech Lithium" or the
"Company")
ASX Listing and CEO
Designate
26 February
2025 - CleanTech Lithium PLC (AIM: CTL), an
exploration and development company advancing sustainable lithium
projects in Chile, announces that it now expects the Australian
Securities Exchange ("ASX") listing to launch in April and complete
in May. While the ASX listing process is taking longer than
initially expected, the Board and our advisers believe that waiting
for a positive decision by the end of March on entering the
streamlined direct negotiation process for the Special Lithium
Operating Contract ("CEOL") for Laguna Verde and completing the
Pre-Feasibility Study ("PFS") will significantly strengthen our
investment case in the Australian market.
The Company also recognises that, under ASX
listing rules, it will now have to include 2024 year-end audited
financials ("2024 Financials") in the ASX-listing Prospectus before
the Prospectus can be published. The 2024 Financials are
well-advanced and expected to be released by the Company before the
end of March 2025, some three months earlier than normally planned
so that the Prospectus can be finalised shortly thereafter. The
Prospectus will also include results of the PFS, which is
progressing well and is anticipated to be finalised and published
in April.
The Company has been informed by Tony Esplin,
nominated as CEO designate in November 2024, that he has
reconsidered his position and, for personal reasons, will not be
taking up his intended appointment as CEO. Mr Esplin's appointment
was conditional on the successful listing of the Company on the ASX
which is now expected to complete in May. The Company´s Executive
Chairman, Steve Kesler, will continue as interim CEO whilst the
Board re-engages with alternative candidates as the CEO to lead
CleanTech Lithium into its next phase of growth.
Steve Kesler,
Executive Chairman, CleanTech Lithium PLC
commented:
"We believe that
pushing out the ASX listing to include the resolution allowing the
Company to enter direct negotiation with Government on the CEOL and
results from the PFS will be taken positively by Australian
investors. We regret that Tony has decided to withdraw from the
proposed appointment as CEO, and we will start to re-engage with
other high calibre candidates immediately."
The Board believes the ASX listing will enhance
shareholder value and will provide further updates on the ASX
listing and CEO search in due course.
Investor
Webinar
CleanTech Lithium will be hosting a live
webinar via the London Stock Exchange platform Spark Live on
Wednesday 26th February. This webinar will begin at
13:00 GMT and investors can register for free via this link:
https://shorturl.at/5020m
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For
further information contact:
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CleanTech Lithium PLC
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Steve Kesler/Gordon Stein/Nick
Baxter
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Jersey office: +44 (0) 1534 668
321
Chile office: +56 9 312
00081
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Or via Celicourt
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Celicourt Communications
Felicity Winkles/Philip Dennis/Ali
AlQahtani
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+44 (0) 20 7770 6424
cleantech@celicourt.uk
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Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish/Asia
Szusciak
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+44 (0) 20 7628 3396
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Fox-Davies Capital Limited (Joint Broker)
Daniel Fox-Davies
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+44 (0) 20 3884 8450
daniel@fox-davies.com
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Canaccord Genuity (Joint Broker)
James Asensio
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+44 (0) 20 7523 4680
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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) is an
exploration and development company advancing lithium projects
in Chile for the clean energy transition. Committed to
net-zero, CleanTech Lithium's mission is to become a new supplier
of battery grade lithium using Direct Lithium Extraction technology
powered by renewable energy.
CleanTech Lithium has two key
lithium projects in Chile, Laguna Verde and Viento Andino, and
exploration stage projects in Llamara and Arenas Blancas
(Salar de Atacama), located in the lithium triangle, a leading
centre for battery grade lithium production. The two most advanced
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 good access to existing infrastructure.
CleanTech Lithium is committed to
utilising Direct Lithium Extraction 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. www.ctlithium.com
**ENDS**
