Following on from the previously announced £2.4 million placing announced by CleanTech Lithium (CTL) earlier this month, the company has launched a retail offer to existing shareholders on the same terms of 16p for one share plus an 11p warrant.
A broker option is also being run through Fox-Davies.
Between them the retail offer and the broker offer will raise a maximum of £2 million.
The issue price represents a discount of approximately 1.6% to the closing share price on 7 February 2025, being the last practicable date prior to the announcement of the Fundraising.
The net proceeds from the broker option, if exercised, and the retail offer would be applied to repaying the company's outstanding loan notes.
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CleanTech has a busy few months ahead of it, as it progresses with the operating licence for its Laguna Verde project in Chile. A pre-feasibility study is also underway, and a listing in Australia is planned. What’s more, it’s anticipated that once the shares list in Australia they may re-rate to a valuation that’s more in line with local peers.
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