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Bolivia Update, Fundraising and TVR

23 May 2024 07:00

RNS Number : 5432P
Clontarf Energy PLC
23 May 2024
 

 

 

23 May 2024

Clontarf Energy plc

("Clontarf" or the "Company")

Bolivia Update, Fundraising and TVR

Bolivian Brines Qualification and Negotiations Funding

Fundraising

 

Clontarf Energy plc (AIM: CLON), the energy company focused on lithium brines, and petroleum projects, is pleased to announce that the Company has raised £300,000 (before expenses) via a placing of 857,142,857 new ordinary shares of 0.01p each in the Company ("Ordinary Shares") ("Placing Shares") at a price of 0.035p per Placing Share (the "Placing").

 

CMC Markets UK Plc, trading as CMC CapX, acted as the Company's sole placing agent in respect of the Placing.

 

The Placing Shares represent approximately 11.92% of the Company's issued share capital as enlarged by the Placing. The issue of the Placing Shares is being satisfied from the Directors' existing authority to allot shares free of pre-emption rights.

 

The net proceeds of the Placing will be used to advance Clontarf's lithium projects in Bolivia, and neighbouring countries, as well as on petroleum projects in Ghana, Australia, and elsewhere, and for general working capital purposes.

 

Bolivia Update

 

Clontarf Energy plc is progressing its activities in Bolivia and is pleased to update shareholders:

Further to the Company's 15th May 2024 announcement, Clontarf and its joint venture partner, NEXT-ChemX, and wider financial partners- are now completing the materials required to be submitted to pass from Phase 3 to Phase 4 of the convocatoria process, which will include confirmation of the JV partners' financial capacity, a review of the last 5-years' accounts and a risk-rating.

 

Also on the 28th May, Clontarf will present to the EU Commission Expert Group On Enhanced Coordination of External Financial Tools on our needs & ideas regarding EU involvement in Bolivia's lithium industry, and particularly the current convocatoria.

 

The EU lists Lithium as one of 34 inputs, of which 17 are strategic, under the Critical Raw Materials Act, for Europe to replace fossil fuels with cleaner energy.

The Critical Raw Materials Act aims "to deliver 10% of extraction, 40% of refining and 15% of recycling of key minerals by 2030". Lithium is now considered among the most critical materials.

 

Further updates will be provided, as appropriate, in accordance with necessary clearances from the authorities.

 

Admission and TVR

The Placing shares will rank pari passu with the Company's existing Ordinary Shares. Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 29 May 2024.

Following Admission, there will be a total of 7,193,326,117 Ordinary Shares in issue with each share carrying the right of one vote. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

For further information please visit http://clontarfenergy.com or contact:

Clontarf Energy

David Horgan, Chairman

Jim Finn, Director

+353 (0) 1 833 2833

Nominated & Financial Adviser

Strand Hanson Limited

Rory Murphy

Ritchie Balmer

+44 (0) 20 7409 3494

Broker

Novum Securities Limited

Colin Rowbury

+44 (0) 207 399 9400

Public Relations

BlytheRay

Megan Ray

+44 (0) 207 138 3206

 

Teneo

Luke Hogg

Alan Tyrrell

Fia Long

Alan Reynolds

+353 (0) 1 661 4055

 

 

 

 

 

 

 

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UPDFLFLDEEIFFIS
Date   Source Headline
12th Jan 20224:40 pmRNSIssue of Warrants and RPT
20th Sep 20214:41 pmRNSSecond Price Monitoring Extn
20th Sep 20214:36 pmRNSPrice Monitoring Extension
15th Sep 20217:00 amRNSInterim Statement
23rd Jun 202111:35 amRNSResult of Annual General Meeting and Board Changes
7th Jun 202110:50 amRNSPosting of Annual Report and Notice of AGM
24th May 20214:11 pmRNSTR-1: Notification of major holdings
20th May 20213:58 pmRNSTR-1: Notification of major holdings
19th May 20217:00 amRNSPreliminary Results for the Year Ended 31 Dec 2020
17th May 20214:31 pmRNSTR-1: Notification of major holdings
14th May 202110:40 amRNSNotification of major holdings
6th May 20217:00 amRNSPlacing to raise £500,000
30th Dec 20204:40 pmRNSSecond Price Monitoring Extn
30th Dec 20204:35 pmRNSPrice Monitoring Extension
30th Dec 202011:05 amRNSSecond Price Monitoring Extn
30th Dec 202011:00 amRNSPrice Monitoring Extension
14th Sep 20207:00 amRNSInterim Statement for period ended 30 June 2020
23rd Jul 202011:32 amRNSResult of AGM
17th Jun 20203:24 pmRNSPosting of Annual Report and Notice of AGM
26th May 20207:00 amRNSPreliminary Results for the Year Ended 31/12/19
3rd Apr 20207:00 amRNSCorporate Update
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20th Sep 20197:00 amRNSInterim Statement for period ended 30 June 2019
27th Jun 201912:23 pmRNSResults of Annual General Meeting
28th May 20197:00 amRNSPreliminary Results for the Year Ended 31 Dec 2018
30th Apr 20197:00 amRNSAppointment of Non-Executive Director
25th Mar 20194:41 pmRNSSecond Price Monitoring Extn
25th Mar 20194:36 pmRNSPrice Monitoring Extension
16th Jan 20197:00 amRNSChange of Nominated Adviser
2nd Oct 20182:06 pmRNSSecond Price Monitoring Extn
2nd Oct 20182:00 pmRNSPrice Monitoring Extension
1st Oct 201811:05 amRNSSecond Price Monitoring Extn

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