Clean Teq Announces Withdrawal of AGM Resolution
MELBOURNE, Oct. 14, 2020 - Clean TeQ Holdings Ltd. (‘Clean TeQ’ or ‘Company’) (ASX/TSX:CLQ; OTCQX:CTEQF) advises that Resolution 7 (Share Consolidation) of the 2020 Notice of Annual General Meeting is withdrawn from the business of the meeting.
Resolution 7 is being withdrawn due to the fact that the Australian Securities Exchange’s (‘ASX’) and Toronto Securities Exchange’s (‘TSX’) back office settlement systems and processes are not able to be aligned in order to implement the Share Consolidation while also allowing for shares to continue to trade on TSX post-consolidation. Rather than proceeding with the Share Consolidation and ceasing trading on TSX with very little notice to those shareholders, the Company has instead decided to withdraw the resolution. The Board of Directors are obviously very disappointed with this result, which has occurred despite the best efforts of the Company’s representatives in working with both of those organisations to achieve a satisfactory outcome.
The Board of Directors wishes to thank shareholders for their support of Resolution 7, with 96% of shares voted at the close of proxy voting in favour of the Share Consolidation. Given the very strong support of shareholders for the Share Consolidation, the Directors intend to put the resolution to shareholders again once it is practical to do so.
| For more information, please contact: | |
| Ben Stockdale, CFO and Investor Relations | +61 3 9797 6700 |
This announcement is authorised for release to the market by the Board of Directors of Clean TeQ Holdings Ltd..
About Clean TeQ Holdings Limited (ASX/TSX: CLQ) – Based in Melbourne, Australia, Clean TeQ is a global leader in metals recovery and industrial water treatment through the application of its proprietary Clean-iX? continuous ion exchange technology. For more information about Clean TeQ please visit the Company’s website www.cleanteq.com.
About the Clean TeQ Sunrise Project – Clean TeQ is the 100% owner of the Clean TeQ Sunrise Project, located in New South Wales. Clean TeQ Sunrise is one of the largest cobalt deposits outside of Africa, and one of the largest and highest-grade accumulations of scandium ever discovered.
About Clean TeQ Water – Through its wholly owned subsidiary Clean TeQ Water, Clean TeQ is also providing innovative wastewater treatment solutions for removing hardness, desalination, nutrient removal and zero liquid discharge. The sectors of focus include municipal wastewater, surface water, industrial waste water and mining waste water. For more information about Clean TeQ Water please visit www.cleanteqwater.com.