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Bolivia Update, Fundraising and TVR

23 May 2024 07:00

RNS Number : 5432P
Clontarf Energy PLC
23 May 2024
 

 

 

23 May 2024

Clontarf Energy plc

("Clontarf" or the "Company")

Bolivia Update, Fundraising and TVR

Bolivian Brines Qualification and Negotiations Funding

Fundraising

 

Clontarf Energy plc (AIM: CLON), the energy company focused on lithium brines, and petroleum projects, is pleased to announce that the Company has raised £300,000 (before expenses) via a placing of 857,142,857 new ordinary shares of 0.01p each in the Company ("Ordinary Shares") ("Placing Shares") at a price of 0.035p per Placing Share (the "Placing").

 

CMC Markets UK Plc, trading as CMC CapX, acted as the Company's sole placing agent in respect of the Placing.

 

The Placing Shares represent approximately 11.92% of the Company's issued share capital as enlarged by the Placing. 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, and for general working capital purposes.

 

Bolivia Update

 

Clontarf Energy plc is progressing its activities in Bolivia and is pleased to update shareholders:

Further to the Company's 15th May 2024 announcement, Clontarf and its joint venture partner, NEXT-ChemX, and wider financial partners- are now completing the materials required to be submitted to pass from Phase 3 to Phase 4 of the convocatoria process, which will include confirmation of the JV partners' financial capacity, a review of the last 5-years' accounts and a risk-rating.

 

Also on the 28th May, Clontarf will present to the EU Commission Expert Group On Enhanced Coordination of External Financial Tools on our needs & ideas regarding EU involvement in Bolivia's lithium industry, and particularly the current convocatoria.

 

The EU lists Lithium as one of 34 inputs, of which 17 are strategic, under the Critical Raw Materials Act, for Europe to replace fossil fuels with cleaner energy.

The Critical Raw Materials Act aims "to deliver 10% of extraction, 40% of refining and 15% of recycling of key minerals by 2030". Lithium is now considered among the most critical materials.

 

Further updates will be provided, as appropriate, in accordance with necessary clearances from the authorities.

 

Admission and TVR

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 29 May 2024.

Following Admission, there will be a total of 7,193,326,117 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.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

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

Fia Long

Alan Reynolds

+353 (0) 1 661 4055

 

 

 

 

 

 

 

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UPDFLFLDEEIFFIS
Date   Source Headline
15th Jul 202412:07 pmRNSTR-1: Notification of major holdings
9th Jul 20242:12 pmRNSResult of AGM
9th Jul 20249:35 amRNSCorporate Update
27th Jun 20249:29 amRNSTR-1: Notification of major holdings
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
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6th Jun 20227:00 amRNSSasanof-1 well final result
6th Jun 20227:00 amRNSResult of General Meeting
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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
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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

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