CleanTech Lithium PLC (LSE:CTL) is addressing a legal claim involving its subsidiary, CleanTech Laguna Verde SpA, stemming from a delayed payment linked to a sale and purchase agreement for Laguna Verde mining concessions. The proceedings were initiated without the subsidiary’s awareness and resulted in a lien being placed on its share capital. The company is moving to overturn the action on the grounds of improper service and maintains confidence that the matter will be resolved in its favor. Management also stresses that the dispute does not impact its application for a special lithium operating contract at Laguna Verde.
More about CleanTech Lithium PLC
CleanTech Lithium PLC is an exploration and development company progressing environmentally focused lithium projects in Chile—an essential component of the global clean energy transition. Its portfolio includes two principal assets, Laguna Verde and Viento Andino, along with the earlier-stage Arenas Blancas project in the lithium-rich triangle. The company is advancing Direct Lithium Extraction methods, which can deliver higher recovery rates and faster development timelines while avoiding the need for large evaporation ponds.
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