(TheNewswire)
Vancouver, BC, Canada - TheNewswire – January 8, 2021 – Rock Tech Lithium Inc. (the"Company" or “Rock Tech”) (TSXV: RCK ) ( Frankfurt:RJIB) is pleased toannounce the closing of its non-brokered private placement (the“Offering”) of 2,580,645 units (the “Units”) of the Company ata price of $1.55 per Unit for gross proceeds of $3,999,999.75 asannounced on January 4, 2021.
Proceeds from the private placement, which was fully subscribed for byone placee, will be used to fund Feasibility Studies on a lithiumhydroxide converter, continuing investigations of the Company’sinnovative lithium hydroxide processing circuit, further developmentand permitting work at the Company’s Georgia Lake lithium projectand general working capital.
All securities issued in connection with the Offering are subject to afour-month hold period expiring on May 9, 2021. Each Unit consists ofone common share of the Company and one common share purchase warrant.Each warrant entitles the holder to purchase an additional commonshare of the Company at a price of $1.80 per share until January 8,2023.
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 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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