CleanTech Lithium PLC on Wednesday said it has now qualified to trade on the OTCQX Best Market in the US.
The Chile-focused sustainable lithium exploration and development company said it has been upgraded to OTCQX from the OTCQB Venture Market.
It said it successfully met the requisite ‘high financial standards [and] best corporate governance practices’, alongside complying with the relevant US securities law.
The graduation to the OTXQX Best Market ‘demonstrates the company’s competency and will streamline any investment activity’ from investors from the US and Canada, CleanTech Lithium said.
‘Joining the OTCQX Market is a strategic decision as CleanTech Lithium continues to make progress simultaneously across our three projects located in Chile, in the Lithium Triangle. With Chile being the only South American country producing lithium with a free trade agreement with the US, the region is a key market on our path to production,’ said Chief Executive Officer Aldo Boitano.
‘Interest in battery manufacturing, electric vehicles and the drive to a green economy is developing at a rapid pace and the Inflation Reduction Act in the US and Canada’s 2035 EV mandate is evidence of this. CleanTech Lithium aims to play a significant role in this by supplying cleaner lithium via direct lithium extraction technology and being part of the OTCQX Best Market is an important step towards delivering this.’
On Tuesday, CleanTech Lithium said results from hydrogeological work with pump test programmes supported its projects brine extraction model at Laguna Verde and Francisco Basin in Chile.
It said brine reinjection tests will start at Laguna Verde.
Shares in CleanTech Lithium were down 5.9% to 43.55 pence each in London on Wednesday afternoon.
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