Mr. Ben Stockdale reports

CLEAN TEQ HOLDINGS LIMITED ANNOUNCES VOLUNTARY DE-LISTING FROM TORONTO STOCK EXCHANGE

Clean Teq Holdings Ltd. has applied for a voluntary delisting of its ordinary shares from trading on the Toronto Stock Exchange.

TSX has subsequently confirmed that the company's shares will be delisted and therefore no longer traded on the TSX after close of trading on Nov. 5, 2020.

No change will occur to the quotation and trading of Clean Teq shares on the Australian Securities Exchange (ASX), and its shares will remain available for trading on the ASX under the code CLQ.

Reasons for delisting

The decision to delist is due to several factors, including the limited trading volume of Clean Teq's shares on the TSX over a sustained period of time. Over a 12-month period to early October, 2020, 96 per cent of shares traded occurred on the ASX. Furthermore, the average daily volume of shares traded on ASX over the same period was 1,245,000 compared with 48,800 on the TSX. In addition, only 1.7 per cent of Clean Teq's shares are held on the Canadian share register. As a result, the board of directors considers the regulatory and other costs associated with maintaining the TSX listing cannot continue to be justified.

Implications of the delisting for shareholders on the Canadian share register

In order to trade their shares on the ASX, Canadian registered and beneficial shareholders will need to have their shareholdings moved to the Australian share register.

After the delisting date of Nov. 5, 2020, and until a movement of shares to the Australian register is effected, shareholders on the Canadian register and beneficial shareholders holding their securities through a Canadian depository for securities (CDS) participant/broker will not be able to trade their shares on the ASX, and their shareholdings will remain on the Canadian share register until the automatic closure of the register occurs. The company's Canadian share register will, however, remain open until Dec. 9, 2020, in order to enable shareholders and CDS participants currently on the Canadian share register to request, if they wish, to have their shares issued to a broker/nominee within CHESS, the Australian clearing and settlement system.

If CDS participants or shareholders on the Canadian register have not requested to have their shares moved to an Australian broker/nominee within CHESS by Dec. 9, 2020, their holding will be automatically moved to an issuer-sponsored holding on the Australian share register and they will be sent an issuer-sponsored holding statement from the Australian registrar. Once this occurs, these shareholders will be able to sell their shares on ASX by quoting their securityholder reference number (SRN) to their broker. Canadian share certificates previously issued will become null and void at such time. Shareholders whose shares are already held on the Australian share register need to take no action.

Process to request the removal of shares from Canada to Australia prior to the closure of the Canadian share register

CDS participants, or those with shares held by a broker within CDS, who wish to have their shares moved over to the Australian share register and issued to a broker/nominee within CHESS should arrange for the CDS participant or broker to complete and submit either a Computershare xSettle electronic instruction or a register removal request -- Canada to Australia form to Computershare Investor Services Inc., the company's Canadian transfer agent.

Registered shareholders with Canadian share certificates who wish to have their shares held with a CHESS broker/nominee will need to open an account with a CHESS broker/nominee and complete a register removal request -- Canada to Australia form and submit it to Computershare Canada, together with the original Canadian share certificate(s) and a stock transfer form, duly medallion guaranteed.

The Canada to Australia removal form is available from the Computershare website.

Shareholders are encouraged to contact Computershare Canada for more information about the register removal process from Canada to Australia by telephone at 1-866-277-2086 or by e-mail to globaltransactionteam@computershare.com.

Canadian reporting update

Clean Teq is a reporting issuer in Ontario, and this will not change following delisting from TSX. Clean Teq is now a designated foreign issuer pursuant to National Instrument 71-102 -- Continuous Disclosure and Other Exemptions Relating to Foreign Issuers (NI 71-102). In line with Clean Teq's commitment to reduce costs, Clean Teq will not file interim and annual management discussion and analysis, and annual information forms as it is not required to do so under the disclosure requirements of Australia.

Clean Teq will satisfy its Canadian securities legislation requirements relating to continuous disclosure by complying with the disclosure requirements of Australia. Under Australian disclosure requirements, Clean Teq will file interim six-month and annual audited financial results within the time limits prescribed by Australian securities legislation and the ASX listing rules.

Until it ceases to be a reporting issuer, Clean Teq will continue to satisfy its other Canadian continuous disclosure requirements by complying with the disclosure requirements of Australia as permitted by NI 71-102.

About Clean Teq Holdings Ltd.

Based in Melbourne, Australia, Clean Teq is a global leader in metals recovery and industrial water treatment through the application of its proprietary Clean-iX continuous ion exchange technology.

About the Clean Teq Sunrise project

Clean Teq is the 100-per-cent owner of the Clean Teq Sunrise project, located in New South Wales. Clean Teq Sunrise is one of the largest cobalt deposits outside of Africa, and one of the largest and highest-grade accumulations of scandium ever discovered.

About Clean Teq Water

Through its wholly owned subsidiary Clean Teq Water, Clean Teq is also providing innovative waste water treatment solutions for removing hardness, desalination, nutrient removal and zero liquid discharge. The sectors of focus include municipal waste water, surface water, industrial waste water and mining waste water.