(TheNewswire)
Vancouver, BC, Canada – TheNewswire - February 5, 2021 – Rock Tech Lithium Inc. (the"Company" or “Rock Tech”) (TSXV:RCK ) ; ( Frankfurt:RJIB) announcesthat, further to its news release on December 22, 2020, the TSXVenture Exchange (the “Exchange”) has accepted for filing thePersonal Information Forms (“PIFs”) submitted by ApeironInvestment Group’s (“Apeiron”) principals, and the Companyanticipates the final approval from the Exchange in the coming days.
The investment by Apeiron, the family office of serial entrepreneurand investor, Christian Angermayer, resulted in a post-closingpartially-diluted ownership position of 17.4%. Apeiron’ssubscription of 3,000,000 units of the Company at a price of $0.85 forgross proceeds of $2,550,000 had been completed into escrow subject tothe filing of the PIFs with the Exchange. Upon the issuance of theExchange’s approval bulletin, the investment proceeds and therelated Units will be released from escrow.
Proceeds from the private placement will be used to fund aPre-Feasibility Study (“PFS”) on a lithium hydroxide converter,continuing investigations of the Company’s innovative lithiumhydroxide processing circuit, further development and permitting workat the Company’s Georgia Lake lithium project and general workingcapital.
All securities issued in connection with the Offering continues to besubject to a hold period expiring on April 19, 2021. Each Unitconsists of one common share of the Company and one common sharepurchase warrant. Each warrant entitles the holder to purchase anadditional common share of the Company at a price of $1.00 per shareuntil December 17, 2022, subject to accelerated expiry in certaincircumstances.
On behalf of the Board of Directors,
"BradBarnett"
Brad Barnett
Director, Chief Financial 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 business prospects, are subject tocertain risks and uncertainties that could cause actual results todiffer materially from those indicated in the forward ? looking statements.
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