CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) is opening a retail share offer of new stock, via the Bookbuild platform, to raise additional funding.
It comes after last week’s £2.4 million equity raise – which sold 15 million new shares priced at 16p. In the retail offer, further new shares are available at the same price.
Also, broker Fox-Davies can raise up to £2 million, via a ‘broker option’ which closes at 5 pm on February 25.
New shares bought in the fundraising will come with a warrant entitlement allowing holders to exercise at 11p, to buy further new shares up to one year after the funding closes.
CleanTech Lithium last week, at the time of the placing, told investors that proceeds are earmarked for key projects, including its pre-feasibility study at the Laguna Verde in Chile.
Funds 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 listing on the Australian Securities Exchange (ASX).