CleanTech Lithium (CTL), CleanTech Lithium, the Chile-focused Direct Lithium Extraction company, has raised £8m at a placing price of 22p per share pence per share, with a further £0.5m available to qualifying retail investors via an Open Offer.
Steve Kesler, Executive Chairman, outlines the progress to date for the Company, the rationale for the placing during what he describes as ‘dire’ market conditions, and why cornerstone Institutional investor, Regal Funds, invested a further £1.2m with directors at the Company investing almost £0.3m collectively.
Investors will also hear how the proceeds from this placing will be deployed, bring Laguna Verde into production, with a Pre-Feasibility Study well under way, bring the Pilot Plant into production by the end of the year and fund further resource drilling at Francisco Basin.
Cleantech Lithium (CTL)