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Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses


 CleanTech Lithium (AIM:CTL, OTCQB:CTLHF), the Chile-focused Direct Lithium Extraction (DLE) explorer and developer, completes the acquisition of 23 Laguna Verde licences, which it previously held options over.

Laguna Verde is Cleantech’s flagship DLE lithium project in the Chilean Andes. The 23 licences, which were previously subject to an option agreement, are now 100% owned by CTL under a Sales and Purchase Agreement (SPA).

Staged payments of up to $35m will be paid to the vendors over 10 years, with the first payment funded through a new unsecured convertible loan note for £1m on attractive terms.In this interview, investors will hear:

- Why now was the right time to exercise the options and take full ownership

- How the acquisition will be funded from future revenues

- How this clears the pathway to an ASX-dual-listing

- Why it is important that CTL own 100% of all their licences

- How this compares favourably with other recent licence deals in the sector

- How this transaction transfers value from vendors to shareholders

“The board felt very comfortable now to change the structure and get absolute clarity by having very clear stage payment milestones, payable over a period of time. With the larger part of those payments being met from revenues from the project, once it's up and running for some time. And that's what we've achieved.” explained Gordon Stein, CFO, CleanTech Lithium.

Reasons to add CTL to your Watchlist:

1) Flagship project Laguna Verde has 1.8M tonnes JORC resource estimate (Lithium Carbonate Equivalent)

2) Laguna Verde Pre-Feasibility Study is due 3Q24

3) Second Fransisco Basin project has JORC resource estimate of 0.92Mt

4) Both Basins are controlled by CTL offering significant development synergies

5) CTL is using world-leading Direct Lithium Extraction Technology

6) Substantial Pilot Plant in Chile now in operation, producing battery grade green lithium for the European EV battery market with a low CO2 footprint

7) Aim is to produce material quantities of lithium by 2024

Gordon Stein, CFO of CleanTech Lithium was interviewed by Donald Leggatt, IR Media Director at focusIR.  

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