• Successful A$6 million placement to institutional, sophisticated and professional investors
• Placement supported by major shareholder and board of directors
• Funds to accelerate delivery of international water and resource recovery projects

Clean TeQ Water Limited (ASX: CNQ) has announced the successful completion of a A$6 million placement to institutional, sophisticated and professional investors. The placement was strongly supported by new and existing shareholders, including the company's major shareholder, Mr Robert Friedland, who subscribed for A$1 million, and the board of directors, who subscribed for A$500,000. The placement comprises two tranches, with the first tranche raising approximately A$5.5 million through the issue of 14.8 million new shares, and the second tranche of A$500,000 through the issue of 1.4 million shares to directors, subject to shareholder approval. The placement was conducted at A$0.37 per share, representing a 19.6% discount to the last closing price and a 15.9% discount to the 15-day volume-weighted average market price. The funds raised will be used to strengthen the company's balance sheet and support the expansion of its commercial capabilities, including project execution, strategic co-funding and licensing opportunities, debt reduction, and working capital and team expansion. The placement positions Clean TeQ Water to accelerate the delivery of its growing pipeline of international water and resource recovery projects, including the multi-phase Rincon lithium refining project, the proposed second phase Nyrstar project in Europe, the proposed tailings storage project in Australia, and the lithium pilot project in the Middle East.

Following completion of the placement, the company expects to execute and deliver the multi-phase Rincon lithium refining project, support the commercial delivery of the proposed second phase Nyrstar project in Europe, support the proposed tailings storage project in Australia, and advance the lithium pilot project in the Middle East.