Schedule One - CleanTech Lithium PLC | RNS | Ticker

Schedule One - CleanTech Lithium PLC

RNS Announcement

RNS Number : 8726C

AIM

25 February 2022

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

CleanTech Lithium PLC ("CleanTech", the "Company" or the "Group")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Current Registered Office:

3rd Floor

44 Esplanade

St Helier

JE4 9WG

Jersey

Registered Office upon Admission:

3rd Floor, IFC5

Castle Street

St Helier

JE2 3BY

Corporate Headquarters:

De Carteret House

7 Castle Street

St Helier

JE2 3BT

Jersey

COUNTRY OF INCORPORATION:

Jersey

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.ctlithium.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Group was established in 2017 and is focused on lithium exploration and development and has been progressing two lithium projects in Chile, the Laguna Verde project and Francisco Basin project ("Projects"). The Group holds (either directly or under option) mining exploration and mining exploitation licences over the Projects which are prospective for lithium resources based on the lithium enriched brine in the surface and sub-surface of the basins.

The Group is intending to produce lithium using a sustainable direct lithium extraction ("DLE") method, which returns water to its source instead of depleting vital aquifers. Each of the Projects are based in Chile, one of the world's best regions for solar and other renewable energy. The intention is to utilise renewable energy for process power. The result being that the overall process will have a very low CO₂ footprint potentially giving a critical advantage in the European Union (''EU'') market which has set strict CO₂ emissions limits. The Group has completed direct lithium extraction trials with a number of DLE technology providers and has entered into a cooperation agreement with a leading local Chilean-Argentinian based company, Beyond Lithium LLC, to complete laboratory and pilot scale test-work over the coming 18 months. The pilot scale work will aim to produce 10 tonnes per month of battery grade lithium carbonate equivalent (''LCE'') product and confirm the process route for commercial scale production.

The Group's Projects are both located within 300km by road from the mining centre of Copiapo in the Atacama region of Chile, within a major mining district. The total licence area of the two Projects is 177km², comprising 67km² at Laguna Verde and 110km² at Francisco Basin. The more advanced Laguna Verde Project features a steep valley shaped basin rimmed by volcanos, with a hypersaline lake covering 15.2km² covering the low point of the basin. This surface lake has been subject to a JORC Code measured resource estimate of 77,834 tonnes of LCE at a grade of 246mg/L lithium. A sediment hosted aquifer is interpreted to lie directly beneath the surface brine resource and up to 300m thick, which has been subject to a JORC Code inferred resource estimate of 1.16 million tonnes LCE at 246mg/L lithium.

The Francisco Basin Project features a salar and lagoon with shallow surface brine, and a gradually rising plain to the south which is the focus area of the project. Two surface sampling programmes in 2018 and 2019 recorded average lithium grades of 375mg/L and 694mg/L. A geophysics programme based on a transient electromagnetic method (''TEM'') survey identified a low resistivity zone over an area of 10 - 15 km². A reconnaissance drill hole drilled in the basin confirmed the sediment aquifer thickness from 100m to 220m.

The Group intends to upgrade the existing resource at the Laguna Verde Project and produce a maiden resource estimate at the Francisco Basin Project. Drilling programmes to achieve this are included within the planned work programme for which funds are being raised as part of the Placing.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of ordinary shares of £0.01 each ("Ordinary Shares") for which Admission is being sought: TBC

There are no restrictions as to the transferability of the Ordinary Shares.

The issue price of the new Ordinary Shares is TBC pence (the "Placing Price").

No Ordinary Shares are or will be held in treasury on Admission.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: £TBC

Anticipated market capitalisation on Admission £TBC (at the Placing Price)

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

TBC

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

Not applicable

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Steve Bogdan Kesler (Non-executive Chairman)

Aldo Jose Boitano de Moras (Chief Executive Officer)

Gordon Bowman Stein (Chief Financial Officer)

Jonathan Charles Rowell Morley-Kirk (Non-executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):


	On Admission	After Admission
Name	Percentage of Existing Ordinary Shares	Percentage of Enlarged Share Capital
Jason Baverstock	16.57%	TBC
Aldo Boitano	15.57%	TBC
*Regal Emerging Companies Opportunities Fund and Regal Emerging Companies Funds 111 (together the ''Regal Funds'')	9.11%	TBC
Timothy Grahame Leslie (Tim Leslie)	8.28%	TBC
Francis Luke Jarvis	6.63%	TBC
Argonaut Investments Pty Ltd and Argonaut Partners Pty Limited (together "Argonaut")	5.80%	TBC
Kevin Johnson**	2.16%	TBC

*The Regal Funds are two separate funds, each of which are managed by the same investment manager, being Regal Funds Management Pty Limited (ACN 107 576 821).

** Kevin Johnson is a director of Argonaut.

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 December;

(ii) 31 December 2021 in respect of the Company (audited); and 30 June 2021 in respect of the operating subsidiaries (unaudited);

(iii) 30 June 2022 (audited annual consolidated accounts to 31 December 2021);

30 September 2022 (half yearly report for the six months ending 30 June 2022); and

30 June 2023 (audited annual consolidated accounts for the full year to 31 December 2022).

EXPECTED ADMISSION DATE:

14 March 2022

NAME AND ADDRESS OF NOMINATED ADVISER:

Beaumont Cornish Limited

Building 3

566 Chiswick High Road

London, W4 5YA

NAME AND ADDRESS OF BROKER:

Fox-Davies Capital Limited

12 Hay Hill

Mayfair

London, W1J 6DQ

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Copies of the AIM Admission Document containing full details about the applicant and the admission of its securities will be available at the registered office of the Company and on the Company's website at www.ctlithium.com from the date of Admission.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

DATE OF NOTIFICATION:

25 February 2022

NEW/ UPDATE:

NEW

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END

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RNS metadata

Title: Schedule One - CleanTech Lithium PLC
Time: 12:00:01
Date: 25 Feb 2022
Category: Capital structure
ID: 8726C