CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) said up to another £0.5 million will be raised in an open offer once the £8 million placing has been approved.
Of the total placing, £3.1 million is a firm placing and the remainder is conditional upon shareholders approving resolutions authorising directors to allot the shares at the meeting on 14 December. For every two placing shares a warrant grants the right to subscribe for one new share at 33p by 14 December 2026.
At the same issue price, the open offer will enable qualifying shareholders to apply to buy one new share for every 45 existing ordinary shares they own.