Ann: Entitlement Offer completed with support from Shareholders, page-2

Clean TeQ Entitlement Offer completed with strong support from shareholders
Clean TeQ Holdings Limited (ASX:CLQ) (Clean TeQ or Company) advises that the non-renounceable pro rata entitlement offer announced on 27 July 2015 on the basis of 1 new fully paid ordinary share in Clean TeQ for every 10 shares at an issue price of $0.18 each (Entitlement Offer), closed on 19 August 2015 with very strong support from shareholders.
Clean TeQ advises that it received entitlement acceptances and applications for additional shares in respect of 30,269,943 shares (approximately 82% of the Entitlement Offer maximum), representing funds of approximately $5.45 million. Accordingly, the shortfall under the Entitlement Offer is 6,606,631 shares (approximately $1.19 million), and the underwriter, BW Equities Pty Ltd (Underwriter), has been notified accordingly.
Clean TeQ is also pleased to advise that, given the very strong investor demand, it has made an additional top-up placement of 12,362,164 new shares (approximately $2.23 million) to certain nominees of the Underwriter at the same issue price as under the Entitlement Offer using its existing placement capacity (Top-Up Placement).
Accordingly, the Entitlement Offer, together with the Top-Up Placement, will raise approximately $8.86 million (before costs).
All new shares are expected to be issued on Wednesday, 26 August 2015.
Following completion of the Entitlement Offer, Clean TeQ is now fully funded to progress the development of the Company’s 100% owned Syerston Scandium Project in NSW including:
Metallurgical test-work to confirm the optimal process for leaching of Scandium from ore;
Completion of the Scandium pilot plant production run currently underway;
Infill drilling program targeting high grade extensions to the Syerston resource;
Progressing discussions with Scandium end users with a view to securing binding offtake contracts; and
Completion of the Syerston Feasibility Study, targeted for completion in Q2 of 2016.
Funds raised from the Entitlement Offer will also be directed towards funding the ongoing development of Clean TeQ’s Water Business, including any equity contribution required for the formation of the Water Treatment Joint Venture with SIDRI in China, repayment of the $1.2M Nippon Gas loan, costs of the Entitlement Offer and general corporate and working capital.
The Directors thank all participating shareholders for their continued support of Clean TeQ’s activities.