Board changes to advance next phase of development

RNS Number : 3844U

CleanTech Lithium PLC

28 March 2023

 

28 March 2023

CleanTech Lithium PLC ("CleanTech Lithium" or the "Company")

Board changes to advance the Company into the next phase of development

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTC:CTLHF), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, announces changes to the Board of Directors with the Non-Executive Chairman, Steve Kesler, moving to the role of Executive Chairman and the appointment of a new independent non-executive director, Maha Daoudi, as the Company moves into the next phase of growth.

Highlights:

· Current non-executive Chairman of CleanTech Lithium, Steve Kesler, moves to the position of Executive Chairman after joining the Company in September 2021. Dr Kesler's background in developing major mining projects in Chile and elsewhere over 45 years will provide support and relevant experience to the CEO, Aldo Boitano, and at a time when the Company is intent on moving from exploration to the development and production phase. His particular focus will be on guiding the Company through the various strategic options in production, partnerships, offtake and financing.

· To further strengthen the Company's Board, Maha Daoudi has been appointed as an independent non-executive director. Ms Daoudi brings extensive industry experience to the Board, having held several Board and senior level positions across commodities, energy transition, finance and tech-related industries. Ms Daoudi's experience in offtake agreements with different commodities, especially in her previous senior role at Trafigura, and her ability to strike up international alliances is a key strategic advantage for the Company as it looks to establish a relationship with a strategic partner/s over the next year. In this new role, Ms Daoudi will be replacing Dr Kesler's position on the audit and remuneration committees.

· Both appointments have been made with immediate effect to support the CEO, Aldo Boitano, and his executive team as the Company aims to bring the Laguna Verde lithium project into production in late 2025. These appointments demonstrate the Board's commitment to building a team that will help to fulfil the Company's ambition to become the greenest supplier of lithium for the Electric Vehicle ("EV") market.

Aldo Boitano, Chief Executive of CleanTech Lithium said : "I am delighted that Steve is moving to Executive Chairman and Maha is joining the Company on our journey to producing the greenest lithium for the EV market. They both bring a diverse set of skills that will help drive the Company into the next phase, all the while strengthening our position in the lithium market. Steve has been invaluable since the day he arrived, helping shape the Company's business strategy and providing expert and very well-received counsel. Now as an Executive Chairman, Steve will continue bringing his experience and knowledge of the business, while taking on specific roles largely relating to strategy, corporate development, partner/customer relationships and supporting my role as CEO. His experience of taking very large projects all the way through into production will be invaluable and brings additional firepower to our growing executive team. Having Maha on board comes at a very exciting time for the Company. With her experience, she is going to be an important part of our progress and help us ensure we deliver on our commitment to produce battery grade lithium, with a leading ESG approach embedded throughout."

Steve Kesler, Executive Chairman of CleanTech Lithium, said : "As the Company accelerates towards production, I will be bringing to the executive team my broad experience across the commodities sector and from taking major projects from exploration into production especially in Chile.  Aldo is building a quality team with the right expertise to achieve our production objectives. In the coming months we will have announcements from our two drilling campaigns from our flagship projects Laguna Verde and Francisco Basin, whilst also making progress with our third and highly prospective greenfield asset, Llamara.  I am looking forward to taking the Executive Chairman role at the Company and supporting Aldo and his team in progressing our projects as rapidly as we can."

Maha Daoudi, Non-Executive Director of CleanTech Lithium said : "I am very excited to join CleanTech Lithium and look forward to working with the Board and management team as we make progress towards production. Considering the prospects that Direct Lithium Extraction ("DLE") offers, combined with CleanTech Lithium's experience, I believe this is an opportunity to make a positive impact on the commodities and mining industries.  Lithium plays a crucial role in the decarbonisation of our economy and if we are to achieve this transition, we need to ensure we source lithium in the most environmentally and socially sound manner possible. I believe CleanTech Lithium will play a significant role in achieving this."

Further Information:

· Steve Kesler , has a hydrometallurgy background and, as General Manager, operated the largest uranium project in the world, Rossing Uranium, using ion exchange technology that has many similarities to DLE.  He has 45 years of senior management, CEO, and director experience for multiple mining companies across many commodities and jurisdictions. Most notably this has included being responsible for growing Escondida in Chile from its start-up capacity to become the largest copper mine in the world and as its first CEO taking Collahuasi in Chile from exploration through feasibility, permitting, offtake, financing and into construction to become the second largest copper mine in the world. This included being CEO when Collahuasi completed its US$1.76bn financing that comprised a US$1.05bn debt finance package with Mitsui and Nippon Mining entering the project. He also has considerable prior lithium experience having been the CEO of European Lithium Ltd, an ASX listed company. Having spent a large part of his mining career in Chile he is well placed to work together with Aldo in guiding the growing executive team to fulfill its ambition to be the greenest lithium supplier to the EV market.

· Maha Daoudi has been appointed as an independent non-executive director at CleanTech Lithium, having spent 20+ years in the commodities and energy transition industries, across the entire value chain. She holds French and Moroccan nationalities and currently resides in Switzerland. She has held Board and Senior level management roles at several large organisations, including Trafigura, one of the largest international trading houses, where she was Global Head of Copper Concentrates Trading. She has been the architect of significant offtake agreements and involved in large investments in mining, smelting and warehousing in support of trading businesses in China, Latin America, Europe and Africa. She holds a Master's degree in International Business and Strategic Management from Toulouse Business School, a Master's degree in Design (focusing on social innovation services) from Lucerne University of Applied Sciences and Arts, as well as an Executive Management degree in Leadership and Strategic Development. She speaks Arabic, English, French and German. Ms Daoudi's appointment will take immediate effect, where she will be advising the Company on its business strategy, marketing, operations and expansion plans. She will also participate in the ESG Committee that the Company is in the process of establishing. Her involvement in various social impact initiatives helping women succeed professionally, is also noteworthy.

Further AIM disclosures

Ms Maha Daoudi, aged 47, has held the following directorships and/or partnerships in the past 5 years:

Current:	Past:
SOGEFI S.p.A.	Concept SUD Sàrl
Calista Direct Investors S.A.
Vever S.A.S.
Antelope Advisory Services AG

Ms Daoudi currently holds no ordinary shares in the Company.

There is no further information on Ms Daoudi required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

For further information contact:
CleanTech Lithium PLC
Aldo Boitano/Gordon Stein	Jersey office: [phone] Chile office: [phone]
	Or via Celicourt
Celicourt Communications	[phone]
Felicity Winkles/Philip Dennis/ Ali AlQahtani	[e-mail]
Dr. Reuter Investor Relations - Germany Dr. Eva Reuter Harbor Access - North America Jonathan Paterson/Lisa Micali Porter Novelli - Chile Florencia Cummins Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak	[phone] [phone] [phone] [e-mail] [phone]
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies Canaccord Genuity Limited (Joint Broker) James Asensio Gordon Hamilton	[phone] [e-mail] [phone]

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.

Notes

CleanTech Lithium (AIM:CTL) is an exploration and development company, advancing the next generation of sustainable lithium projects in Chile.  Proudly sustainable, committed to net-zero, our mission is to produce material quantities of battery grade, carbon-neutral lithium using proven sustainable Direct Lithium Extraction technology, powered by clean energy, we plan to be the greenest lithium supplier to the EV market.

CleanTech Lithium has three prospective lithium projects - Laguna Verde, Francisco Basin and Llamara - located in the lithium triangle, the world's centre for battery grade lithium production. The Laguna Verde and Francisco Basin projects are situated within basins entirely controlled by the Company, which affords significant potential development and operational advantages. Llamara is the Company's latest greenfield project, which offers material potential upside at a low initial cost. All three projects have direct access to excellent infrastructure and renewable power. 

CleanTech Lithium is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction. Direct Lithium Extraction is a transformative technology which only removes lithium from brine, with higher recoveries and purities. The method offers short development lead times, low upfront capex, with no extensive site construction and no evaporation pond development so there is no water depletion from the aquifer or harm to the local environment.

**ENDS**

 

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