Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksClontarf Regulatory News (CLON)

Share Price Information for Clontarf (CLON)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.043
Bid: 0.042
Ask: 0.044
Change: 0.001 (2.38%)
Spread: 0.002 (4.762%)
Open: 0.042
High: 0.0435
Low: 0.0395
Prev. Close: 0.042
CLON Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

£350,000 Fundraising and Corporate Update

1 Jun 2023 07:00

RNS Number : 3196B
Clontarf Energy PLC
01 June 2023
 

 

1st June 2023

 

Clontarf Energy plc

("Clontarf" or "the Company")

 

£350,000 Fundraising and Corporate Update

 

The Directors of Clontarf Energy plc (AIM: CLON) are pleased to announce that the Company has raised £350,000 (before expenses) via the placing of, and subscription for, 437,500,000 new ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") (the "Placing Shares"), via CMC Markets UK Plc, at a price of 0.08p per Placing Share (the "Placing"). The Placing Shares represent approximately 8.42% of the Company's issued share capital as enlarged by the Placing. 

 

· The Placing shares will rank pari passu with the Company's existing Ordinary Shares. Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 8th June 2023. The issue of the Placing Shares is being satisfied from the Directors' existing authority to allot shares free of pre-emption rights.

 

· The net proceeds of the Placing will be used to advance Clontarf's lithium projects in Bolivia, and neighbouring countries, as well as on petroleum projects in Ghana, Australia, and elsewhere.

 

· Further updates on Bolivian lithium, as well as the Ghanaian and Australian projects will be issued, when appropriate.

 

 

Admission and TVR

 

Following the Admission of the Placing Shares, there will be a total of 5,193,326,117 Ordinary Shares in issue with each share carrying the right of one vote. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Chairman, David Horgan, commented:

 

"Strong demand growth and rising, though volatile, prices are transforming the lithium business. The Board believes that projected demand for clean lithium cannot be met without South American brines, and especially Direct Lithium Extraction technology.

 

"Our joint venture partners, NEXT-ChemX, identified techniques that had previously purified fluids of radioactive elements through a technique mimicking the human kidney. This avoids the need for high water, or power usage, facilitating a continuous process, rather than a batch process.

 

"This cutting-edge extraction technology concentrates desired ions (such as Lithium+) by drawing them out of a solution (such as a brine) across a special purpose membrane. The technology is known as ion-Targeting Direct Extraction. This can work even in low concentrations.

 

"Working closely with the relevant authorities, under applicable laws, we are now gathering large samples, from several priority salt-lakes, for laboratory testing at our Joint Venture partner's facilities. Necessary export paperwork is being finalised, so that these brine samples can be air-freighted. Clontarf thus expects to start testing at its Joint-Venture partner's facilities shortly. 

 

"The first phase of sample analysis will confirm past laboratory testing of synthetic brines. This process includes fine-tuning the process to facilitate large-scale pilot plant testing, which should follow successful laboratory test-work.

 

"A priority has been ongoing discussions with Bolivia's State Lithium Company, which is tasked with leading Bolivia's large-scale entry to international markets under the 2017 Lithium Law.

 

"Our Joint Venture has also agreed with the relevant titleholders to test priority brines from privately held salt-lakes in Argentina and Chile. These are also included in our joint venture with NEXT-ChemX on Direct Lithium Extraction.

 

"Meanwhile, the International Monetary Fund has approved a $3 Billion Extended Credit Facility Arrangement for Ghana. We understand that major creditors are finally on board. The reform package includes anti-corruption measures, and is intended to expedite the frozen ratification of oil & gas contracts, so as to deliver sustained growth."

 

 

For further information please visit http://clontarfenergy.com or contact:

 

Clontarf Energy

David Horgan, Chairman

Jim Finn, Director

+353 (0) 1 833 2833

Nominated & Financial Adviser

Strand Hanson Limited

Rory Murphy

Ritchie Balmer

+44 (0) 20 7409 3494

Broker

Novum Securities Limited

Colin Rowbury

+44 (0) 207 399 9400

 

Public Relations

BlytheRay

Megan Ray

 

+44 (0) 207 138 3206

 

 

Teneo

Luke Hogg

Alan Tyrrell

 

 

+353 (0) 1 661 4055

 

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOEFBMATMTJMMJJ
Date   Source Headline
19th Jun 202412:58 pmRNSTR-1: Notification of major holdings
17th Jun 20244:30 pmRNSGrant of Share Options
14th Jun 20247:00 amRNSPosting of Annual Report and Notice of AGM
10th Jun 20247:00 amRNSPreliminary Results
6th Jun 20248:06 amRNSBolivia Lithium Update
23rd May 20247:00 amRNSBolivia Update, Fundraising and TVR
15th May 202411:23 amRNSBolivia Lithium Update
10th Apr 20241:35 pmRNSGrant of Share Options
18th Mar 20247:00 amRNSBolivia Update, Fundraising and TVR
6th Mar 202410:33 amRNSEncouraging Bolivian Brines Progress
5th Feb 20247:00 amRNSSouth American Brines Progress
25th Sep 20237:00 amRNSInterim Results for the period ended 30 June 2023
1st Aug 202310:38 amRNSGrant of Share Options
13th Jul 202312:35 pmRNSResult of AGM and Corporate Update
22nd Jun 202312:32 pmRNSPosting of Annual Report and Notice of AGM
8th Jun 20237:00 amRNSPreliminary Results
1st Jun 20237:00 amRNS£350,000 Fundraising and Corporate Update
5th May 20237:00 amRNSUpdate on Joint Venture Agreement and TVR
28th Mar 202310:24 amRNSJV Agreement on Direct Lithium Extraction Bolivia
17th Feb 202311:05 amRNSSecond Price Monitoring Extn
17th Feb 202311:00 amRNSPrice Monitoring Extension
15th Feb 20237:00 amRNSJV HoA on Direct Lithium Ion Extraction in Bolivia
17th Jan 202310:34 amRNSGrant of Share Options
16th Jan 20237:00 amRNS£1.3 million Fundraising and Corporate Update
8th Nov 20224:40 pmRNSSecond Price Monitoring Extn
8th Nov 20224:35 pmRNSPrice Monitoring Extension
22nd Sep 20227:00 amRNSInterim Results for the period ended 30 June 2022
5th Sep 20227:02 amRNSShare Price Movement and Shareholder Update
4th Aug 20221:00 pmRNSResult of AGM and Capital Reorganisation
1st Jul 202211:04 amRNSDirector Change
29th Jun 202210:30 amRNSPosting of Annual Report
22nd Jun 20227:00 amRNSPreliminary Results for the Year Ended 31 Dec 2021
14th Jun 20227:00 amRNSSasanof-1 well completion
6th Jun 20227:00 amRNSSasanof-1 well final result
6th Jun 20227:00 amRNSResult of General Meeting
30th May 20228:00 amRNSSasanof-1 well drilling update
27th May 20227:00 amRNSSasanof-1 well spudding
23rd May 20227:00 amRNSSasanof-1 well mobilisation update
20th May 20224:41 pmRNSSecond Price Monitoring Extn
20th May 20224:36 pmRNSPrice Monitoring Extension
18th May 20222:06 pmRNSSecond Price Monitoring Extn
18th May 20222:00 pmRNSPrice Monitoring Extension
18th May 20227:00 amRNSSasanof-1 well mobilisation update
17th May 202211:00 amRNSPrice Monitoring Extension
12th May 202211:53 amRNSUpdate on Sasanof-1 well
11th May 20223:58 pmRNSNotice of General Meeting
10th May 20227:00 amRNSConsideration Shares to be Admitted to Trading
9th May 20227:00 amRNSAcquisition of 10% of Sasanof Prospect
27th Apr 20221:02 pmRNSPlacing to raise £3,500,000
12th Jan 20224:40 pmRNSIssue of Warrants and RPT

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.