(TheNewswire)
Vancouver, BC, Canada – TheNewswire - January 6, 2021 – Rock Tech Lithium Inc. (the"Company" or “Rock Tech”) (TSXV:RCK ) ; ( Frankfurt:RJIB) announcesthat it will conduct a non-brokered private placement (the“Offering”) with an institutional investor of up to 2,500,000units (the “Units”) of the Company at a price of $1.60 per Unitfor gross proceeds of up to $4,000,000.
Each Unit will consist of one common share of the Company and onecommon share purchase warrant. Each warrant will entitle the holder topurchase an additional common share of the Company at a price of $2.00per share for a period of 24 months from the date of closing.
Proceeds from the private placement will be used to fund FeasibilityStudies on a lithium hydroxide converter, continuing investigations ofthe Company’s innovative lithium hydroxide processing circuit,further development and permitting work at the Company’s GeorgiaLake lithium project and general working capital.
This news release does not constitute an offer to sell securities andthe Company is not soliciting an offer to buy the securities describedherein. These securities have not been registered under the UnitedStates Securities Act of 1933, as amended (the "U.S. SecuritiesAct"), or any state securities laws, and may not be offered orsold in the United States or to U.S. persons unless registered underthe U.S. Securities Act and applicable state securities laws or exemptfrom such registration.
The closing of the Offering is subject to regulatory approvalincluding that of the TSX Venture Exchange. All securities issued inconnection with the Offering will be subject to a four-month holdperiod.
On behalf of the Board of Directors,
"SimonBodensteiner"
Simon Bodensteiner
Director, Chief Executive Officer
For further information, pleasecontact:
Brad Barnett
Chief Financial Officer
Rock Tech Lithium Inc.
777 Hornby Street, Suite 600
Vancouver, B.C., V6Z 1S4
Telephone: (778) 358-5200
Facsimile: (604) 670-0033
Email: bbarnett@rocktechlithium.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Statements included in this announcement, includingstatements concerning our plans, intentions and expectations, whichare not historical in nature are intended to be, and are herebyidentified as, "forward ? looking statements". Forward ? looking statements may be identifiedby words including "anticipates", "believes","intends", "estimates", "expects" andsimilar expressions. The Company cautions readers thatforward ? lookingstatements, including without limitation those relating to theCompany's future operations and businessprospects, are subject to certain risks and uncertainties that couldcause actual results to differ materially from those indicated in theforward ? lookingstatements.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRESERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2021 TheNewswire - All rights reserved.