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
For further information contact: |
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CleanTech Lithium PLC |
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Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +56 9 312 00081 |
| Or via Celicourt |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 cleantech@celicourt.uk |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 daniel@fox-davies.com |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
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
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