Cleantech Lithium Commences Trading On The OTCQB Venture Market

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTC:CTLHF), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, is pleased to announce that its Ordinary Shares have been approved to trade on the OTCQB Venture Market ("OTCQB") in the United States of America (the "U.S.") and will commence trading at the market open today under the ticker CTLHF.CleanTech Lithium has also engaged Harbor Access, based near New York, to provide Investor Relations ("IR") support to help optimise the Company's trading position in the U.S.

OTCQB

The Company previously announced an intention to be quoted on OTCQX Best Market, however this has been delayed due to a requirement for the Company to submit audited accounts for the previous financial year, which are expected in May 2023. The Board made the decision to proceed with OTCQB in order to allow U.S. investors access without further delay.

The cross-trading of the Company's ordinary shares on the OTCQB will provide enhanced investor benefits, including easier trading access for certain investors located in the U.S., and greater liquidity due to a broader geographic pool of potential investors. Through trading on the OTCQB, the Company will be able to engage with a network of U.S. investors, data distributors and media partners, ensuring that U.S. investors have access to the same level of information and disclosure that is available to investors in the United Kingdom, but through U.S.-facing platforms and portals. In addition, the OTCQB cross-trading facility will provide U.S. based investors with the ability to access CleanTech Lithium's Ordinary Shares in U.S. dollars during U.S. market hours. The ability to trade in the Company's existing Ordinary Shares on AIM will not be affected by having the OTCQB facility and no new Ordinary Shares have been issued. CleanTech Lithium will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Service and has no Sarbanes-Oxley or U.S. Securities and Exchange Commission ("SEC") reporting requirements.

The OTCQB is recognised as an Established Public Market by the SEC and is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.

The Company would like to thank Nikolaos Galanopoulos of Galanopoulos & Company, the corporate securities law firm that acted as Sponsor for the Company's application to commence cross-trading on the OTCQB.

The Company will provide further updates as and when its re-applies to transfer from OTCQB to the OTCQX platform once its audited accounts have been released, later this year.

Appointment of Harbor Access

The Company has recently engaged Harbor Access Inc. to work with the directors and management to create a North American IR strategy, tailoring the Company's messaging to target a larger investor pool in the U.S. and Canada. Harbor are specialists in this field with access to over 20 years of capital markets and IR experience in North America.

Harbor are already working with the Company and its joint brokers, Fox-Davies Capital and Canaccord Genuity, on a marketing campaign to take place in late February and early March in New York and Boston, involving the Company's CEO, Aldo Boitano, and CFO, Gordon Stein.

U.S. Inflation Reduction Act:

The signing of the Inflation Reduction Act ("IRA") by President Biden in August 2022 means that by 2026, 80% of minerals in Electric Vehicle ("EV") batteries will need to be sourced from the U.S. or a country which has a free trade agreement ("FTA") with the U.S.. Chile is the only major producer of battery grade lithium carbonate/hydroxide that currently has a FTA with the U.S. so this places CleanTech Lithium in a favourable place to sell its future lithium products into the U.S.. The IRA provides financial incentives in the U.S. to companies that can increase the security of supply of battery minerals. CleanTech Lithium is in the process of opening discussions with U.S. authorities as to whether such financial incentives will be available to developing lithium producers in Chile that plan to be part of the lithium supply chain into the U.S.. This has included initial communications with the U.S. Consulate in Santiago.

Aldo Boitano, Chief Executive of CleanTech Lithium, said: "We are pleased to commence CleanTech Lithium's dual trading on the OTCQB today, marking another step forward in this year of rapid progress for the Company. Cross-trading on the OTCQB will increase liquidity and significantly enhance the ability of U.S. based investors to access and trade CleanTech Lithium's shares during a period in which we are actively progressing our three projects in Chile. Dual trading on OTCQB will also, we believe, serve to diversify the share register and increase exposure to a broader range of investors, whether U.S. based or ESG-focused. In various meetings with U.S. based investors over the past year, they have continually encouraged the Company to obtain an OTC onboarding as a means of trading in CleanTech Lithium shares. Given the incentives potentially available to companies such as CleanTech Lithium following the Inflation Reduction Act, we believe U.S. based investors will understand the very real benefits of this for CleanTech Lithium and we would welcome their investment in our Company."

"We are also delighted to have engaged the team at Harbor Access who are specialists in IR and capital markets in the North American market and will be able to assist the Company in our marketing activities in the U.S. Over the coming months, CleanTech Lithium's directors and management will put specific additional emphasis on increasing our outreach efforts to U.S. based institutions and investors."

"In the meantime, our Board continues to consider the merits of an additional listing on ASX and we shall update the market in the near future of our intentions in that regard."

Jonathan Dickson, VP of International Corporate Services at OTC Markets, said: "We are delighted to welcome CleanTech Lithium to the OTCQB Venture Market. With its primary listing remaining on London's AIM, the OTCQB's cross-trading facility will allow CleanTech Lithium to broaden its horizons and provide investors in the U.S. with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours."

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