Clean TeQ Holdings Announces Successful Completion of $150m Underwritten Placement

Mr Robert Friedland and Mr Jiang Zhaobai, Co-Chairmen of Clean TeQ Holdings (CLQ:ASX; CLQ;TSX; CTEQF:OTCQX), and Mr Sam Riggall, Chief Executive Officer, announced that the Company has completed the underwritten institutional placement (Placement) announced on 8 March 2018, following strong demand from existing shareholders and new institutional investors.

The Placement closed heavily oversubscribed with demand significantly exceeding the $150 million underwritten amount.

As noted in the market announcement dated 8 March 2018, proceeds raised via the Placement will be used to fund early works and long lead items to accelerate the development of the Company’s 100% owned Clean TeQ Sunrise Nickel/Cobalt/Scandium Project (Sunrise or the Project), located 350km west of Sydney.

The expedited development timetable will provide Clean TeQ with the opportunity to commence production of high purity cobalt and nickel sulphate approximately 12 months earlier than previously contemplated, allowing the Company to take advantage of rapidly growing markets for these critical inputs into the lithium ion battery industry.

The Placement was conducted at a fixed price of A$1.15 per new share (Offer Price), representing a 6.1% discount to the closing price of A$1.225 per share as at 7 March 2018.


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