Clean Invest Africa Plc - MoU to acquire the remainder of CoalTech PR Newswire

10 July 2018

CLEAN INVEST AFRICA PLC

(“CIA” or the “Company")

Memorandum of Understanding to acquire the remainder of CoalTech

Clean Invest Africa Plc (NEX:CIA), the NEX Exchange quoted clean technology and renewable energy investment company, is pleased to announce, further to the announcement of  12 February 2018, whereby it invested US$500,000 in to CoalTech LLC (“CoalTech”), that it has signed a Memorandum of Understanding (“MoU”) with CoalTech. The MoU provides the basis for CIA to acquire the remaining 97.5% of CoalTech that it does not already own.

Both the Company and CoalTech have commenced due diligence to examine the feasibility. However, until a formal Sale and Purchase Agreement (“SPA”) has been signed, the deal is conditional, and not binding on either the Company or CoalTech.

There can be no guarantee that the discussions in respect of the MoU signed with CoalTech will be successful.

The Directors of the Company accept responsibility for the content of this announcement.

ENQUIRIES:

Company

Clean Invest Africa PLC

Sam Preece – Executive Director

Telephone: 020 3130 0674

Corporate Adviser

Peterhouse Capital Limited

Guy Miller 

Telephone: 020 7220 9795