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Clean TeQ Water Limited (ASX:CNQ)

ALERT: Price-sensitive ASX Announcement for CNQ
Current share price for CNQ : $0.450 -0.02 (-4.26%)+
Announcement
Release
7 Nov 2025 2:12PM
Price at Release
$0.470
Full Release
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Summary
Clean TeQ Water Limited announced the successful completion of a A$6 million placement, involving the issue of approximately 16 million new shares at A$0.37 each. The placement, divided into two tranches, was well-received by new and existing investors, including major shareholder Robert Friedland. The funds will help accelerate the company's pipeline of international water and resource recovery projects. It positions Clean TeQ to advance key strategic initiatives such as the Rincon lithium refining project and others in Europe and the Middle East. Canaccord Genuity (Australia) Limited managed the placement.
Key Points
  • Clean TeQ Water successfully raised approximately A$6 million through a placement of shares.
  • The placement was offered at A$0.37 per New Share, representing a discount to recent market prices.
  • The placement was strongly supported by both new and existing investors, including a significant subscription by the major shareholder, Mr. Robert Friedland.
  • The placement consists of two tranches, with Tranche 1 raising approximately A$5.5 million and Tranche 2 raising A$500,000 for directors, subject to shareholder approval.
  • Proceeds will be used to accelerate international water and resource recovery projects.
  • Clean TeQ aims to execute several strategic projects globally, including the Rincon lithium refining project and the Nyrstar project in Europe.
  • Canaccord Genuity (Australia) Limited acted as the Lead Manager for the placement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.