Friedland cuts fresh cheque for Clean TeQ Wate rAnthony Macdonald, Sarah Thompson and Kanika Sood Oct 25, 2022 – 9.36amSaveShareAmerican/Canadian mining investor Robert Friedland is set to increase his stake in Australia’s Clean TeQ Water Ltd, as part of an equity raising in front of investors on Tuesday.Robert Friedland. Jesse MarlowStockbroker Bell Potter was lining up investors for a two-tranche placement worth $5 million, priced at 38¢ a share or a 20 per cent discount to the last close.Friedland, who owns a 13.4 per cent stake in Clean TeQ, was said to be taking $2 million of the raising.The deal’s expected to be accompanied by a letter of intent to form a lithium extraction joint venture with a subsidiary of Ivanhoe Electric, which is run by Friedland.Bell Potter was calling for bids by 5pm on Tuesday.Clean TeQ, a company involved in water treatment and metals recovery, had a $21 million market capitalisation prior to the raising. Its shares went into a trading halt on Tuesday morning ahead of the deal.
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