Business
Results of Placing
Results of Placing.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\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.\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\").\nCleanTech Lithium PLC\n(\"CleanTech\" or the \"Company\") \nResults of Placing\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 the results of the Placing announced on 21 November 2023 (the \"Launch Announcement\"). The Placing has conditionally raised gross proceeds of £8 million and was increased from the original minimum fundraise target due to significant investor demand. The additional capital raised will provide flexibility for additional technical work at Laguna Verde and drilling at Francisco Basin.\nResults of the Placing\nThe Placing has conditionally raised gross proceeds of £8 million. A total of 36,363,638 Placing Shares will therefore be issued pursuant to the Placing representing approximately 25 per cent. of the Company's enlarged ordinary share capital following the admission of the Placing Shares to trading on AIM.\nThe Placing comprises 14,124,466 Firm Placing Shares together with 7,062,233 Warrants, and 22,239,172 Conditional Placing Shares and 11,119,586 Warrants which will be issued to new and existing institutional investors procured by Fox-Davies Capital Limited and Canaccord Genuity Limited (together the \"Joint Bookrunners\"), at the Issue Price. The Conditional Placing is conditional, inter alia, on shareholder approval.\nThe Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the Placing Shares....