CleanTech Lithium PLC on Friday said there will be no impact on company operations following the resignation of Chief Executive Officer Aldo Boitano.

The Chilean-focused lithium exploration and development company suspended Boitano on April 9 for failing to disclose that he agreed to provide shares in the company as security for a loan. Boitano’s resignation was announced on Friday Morning.

It was revealed that between September 8 and February 6, Boitano transferred his entire holding of 9.4 million shares to a custodian account nominated by the lender.

Executive Chair Steve Kesler has since been appointed, on an interim basis, to succeed Boitano who will be retained by the company as a consultant for the time being.

CleanTech said: ‘This will ensure no impact to the company’s operations including ongoing activities at CTL’s most advanced development project, Laguna Verde.’

‘The fundamentals for our lithium brine projects in Chile are strong. We continue to advance the Laguna Verde project,’ said Kesler.

CleanTech shares were up 16% to 13.00 in London on Friday morning.

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