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LONDON - CleanTech Lithium PLC (AIM: CTL), a sustainable lithium developer operating in Chile, has announced its intentions to hold a general meeting on Monday, March 24, 2025. The purpose of this meeting is to seek shareholder approval for a series of corporate actions following a recent capital raise.
The company, which focuses on lithium extraction for clean energy applications, successfully raised £2.4 million before expenses through the placement of 15 million new ordinary shares at 16 pence each on February 11, 2025. In addition to this placement, CleanTech Lithium granted an option to Fox-Davies Capital Limited and initiated a retail offer to existing shareholders, with the potential to raise up to an additional £2 million.
During the upcoming general meeting, shareholders will vote on authorizing the directors to allot shares in connection with the broker option, the retail offer, and associated warrants. They will also consider renewing the company’s general share authorities, adopting purely electronic communications with shareholders, and approving amended articles of association.
The proposed amendments aim to enhance communication efficiency by shifting to electronic means such as email and website postings, thereby reducing costs and environmental impact. Shareholders will receive notifications electronically by default unless they request hard copy mail.
The circular detailing the resolutions has been made available on the company’s website, and shareholders have been notified of its posting. The results of the broker option and retail offer will be announced on Friday, March 10, 2025, with the general meeting results to follow on the day of the meeting.
CleanTech Lithium, committed to a net-zero target, is advancing its Laguna Verde and Viento Andino projects among others in Chile, utilizing Direct Lithium Extraction technology powered by renewable energy. This approach is designed to yield higher recoveries of lithium with minimal environmental impact.
This article is based on a press release statement from CleanTech Lithium PLC.
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