Business
Proposed Fundraising
Proposed Fundraising.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n\n \nTHIS 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.\n \nTHIS 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\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE PLACING WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED IN MAR), AS PERMITTED BY MAR. THIS INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT. THEREFORE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION RELATING TO THE COMPANY AND ITS SECURITIES.\n \n21 November 2023\n \nCleanTech Lithium PLC\n(\"CleanTech Lithium\" or the \"Company\")\nProposed Fundraising\n \nCleanTech Lithium PLC (\"CTL\", \"CleanTech Lithium\" or the \"Company\"), an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition, is pleased to announce that it intends to raise minimum gross proceeds of approximately £6.0 million by way of a firm placing and conditional placing of new Ordinary Shares (the \"Placing Shares\") at a price of 22p per new Ordinary Share (the \"Issue Price\") (the \"Placing\"). As part of the Placing, the Placing Shares will carry a warrant entitlement of one warrant for every two Placing Shares (\"Warrants\"). Each Warrant grants the holder the right to subscribe for one new Ordinary Share at a price of 33p, being 50 per cent. above the Issue Price and has a term of 3 years. Certain Directors are intending to participate in the Placing by subscribing for up to £0.3 million in aggregate. In addition, the Company intends to make an open offer of new Ordinary Shares to shareholders (the \"Open Offer\" and, together with the Placing, the \"Fundraising\") at the Issue Price details of which including the timetable and Record Date will be announced separately.\...