CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) confirmed it has raised £2.4 million of new equity with proceeds earmarked for key projects, including its pre-feasibility study at the Laguna Verde in Chile.
The company, in a statement, said it will issue around 15 million new shares priced at 16p.
Cash raised will also help the development of a Direct Lithium Extraction (DLE) pilot plant, aiming to produce battery-grade lithium carbonate for potential partners, and, the support firm as it finalises its planned listed on the Australian Securities Exchange (ASX).
"Thank you to all the investors that have supported CleanTech Lithium in the latest placing,” executive chair Steve Kesler said in a statement.
“We are delighted to see the return of existing shareholders and welcome new shareholders who have shown, despite difficult market conditions, their confidence in the company as we develop responsibly sourced lithium in Chile via Direct Lithium Extraction.”