9th
April 2024
CleanTech Lithium
PLC
("CleanTech Lithium", "CTL"
or the "Company")
Director's Share Dealing
It has come to the attention of the
Board of CleanTech Lithium PLC (AIM:CTL, Frankfurt: T2N, OTCQX:
CTLHF), an exploration and development company advancing lithium projects in Chile,
that on 16 August 2023 the Company's CEO, Aldo Boitano, has
entered into a loan agreement with a financial institution
("Lender"), under which he agreed to provide security over
ordinary shares ("Ordinary Shares") that he
held in the Company. As part of these arrangements through a series
of transactions between 8 September 2023 and 6 February 2024 Mr
Boitano transferred his entire holding of 9,400,002 Ordinary Shares
to a custodian account nominated by the Lender. Mr Boitano is not
able to ascertain the extent to which these Ordinary Shares may
have been transferred to a further nominee account in the name of
the Lender or the extent to which any such Ordinary Shares may have
been sold by the Lender to third parties. Consequently, Mr Boitano
is unable to disclose his current beneficial holding of Ordinary
Shares to the Company and the extent to which his original holding
of 9,400,002 Ordinary Shares may have been disposed of by the
Lender to third parties.
The granting of security and
subsequent transfers of Ordinary Shares are considered notifiable
events which should have been notified by Mr Boitano to the Company
at the relevant time. Accordingly, the Board of CTL has suspended
Mr Boitano from his duties as CEO of the Company, pending an
investigation. The Board of CTL would like to make it clear that Mr
Boitano is cooperating with the investigation. In the interim
period and to ensure there is no impact to the ongoing work
programme at Laguna Verde, Steve Kesler, currently Executive
Chairman, will also assume the CEO's responsibilities.
The Company will provide a further
update to the market in due course.
-ENDS-
The information communicated within
this announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No 596/2014
which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. Upon publication of this announcement, this
inside information is now considered to be in the public domain.
The person who arranged for the release of this announcement on
behalf of the Company was Gordon Stein, Director and
CFO.
For
further information contact:
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Celicourt Communications
Felicity Winkles/Philip Dennis/Ali
AlQahtani
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+44 (0) 20 7770 6424
cleantech@celicourt.uk
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Beaumont Cornish Limited
(Nominated Adviser)
Roland Cornish/Asia
Szusciak
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+44 (0) 207 628 3396
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Canaccord Genuity (Joint Broker)
James Asensio
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+44 (0) 207 523 4680
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Fox-Davies Capital Limited (Joint Broker)
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+44 20 3884 8450
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Daniel Fox-Davies
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daniel@fox-davies.com
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Beaumont Cornish Limited ("Beaumont
Cornish") is the Company's Nominated Adviser and is authorised and
regulated by the FCA. Beaumont Cornish's responsibilities as the
Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules
for Companies and AIM Rules for Nominated Advisers, are owed solely
to the London Stock Exchange. Beaumont Cornish is not acting for
and will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.
About CleanTech Lithium
CleanTech Lithium (AIM:CTL,
Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development
company advancing sustainable lithium projects
in Chile for the clean energy transition. Committed to
net-zero, CleanTech Lithium's mission is to produce material
quantities of sustainable battery grade lithium products using
Direct Lithium Extraction technology powered by renewable energy.
The Company plans to be a leading supplier of 'green' lithium to
the EV and battery manufacturing market.
CleanTech Lithium has two key
lithium projects, Laguna Verde and Francisco Basin, and hold
licences in Llamara and Salar de Atacama, located in the
lithium triangle, a leading centre for battery grade lithium
production. The two major projects: Laguna Verde and Francisco
Basin are situated within basins controlled by the Company,
which affords significant potential development and operational
advantages. All four projects have direct access to existing
infrastructure and renewable power.
CleanTech Lithium is committed to
using renewable power for processing and reducing the environmental
impact of its lithium production by utilising Direct Lithium
Extraction with reinjection of spent brine. Direct Lithium
Extraction is a transformative technology which removes lithium
from brine, with higher recoveries than conventional processes. The
method offers short development lead times with no extensive site
construction or evaporation pond development so there is minimal
water depletion from the aquifer. www.ctlithium.com