(TheNewswire)
Vancouver, BC, Canada - TheNewswire – January 21, 2021 – Rock Tech Lithium Inc. (the"Company" or “Rock Tech”) (TSXV:RCK ) ( Frankfurt: RJIB) is pleasedto announce the closing of its non-brokered private placement (the“Offering”) of 2,500,000 units (the “Units”) of the Company ata price of $1.60 per Unit for gross proceeds of $4,000,000 asannounced on January 6, 2021.
"We are humbled and grateful to welcome the newshareholders that share our vision of the lithium market,” said DirkHarbecke, Chairman of the Company. “The electrification of thetransportation industry and developments in stationary energy storagerepresent key investing themes of the next decade and beyond. Thefaith placed in us by these new shareholders confirms Rock Tech’smission and is a testament to the emerging opportunity in thesesectors.
“Proceeds from this private placement, which was fully subscribedfor by one placee, in combination with previous recent offerings, willallow the Company to accelerate the technical studies on a lithiumhydroxide converter towards feasibility level. We will furtherintensify our research activities, including the development of ourpatent-pending lithium hydroxide process. Apart from this we are wellfunded to further develop the Company’s Georgia Lake lithium projectand move forward with the permitting process,” commented SimonBodensteiner, Rock Tech’s CEO.
All securities issued in connection with the Offering are subject to afour-month hold period expiring on May 22, 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 $2.00 per share until January 21,2023.
The securities offered have not been, nor will they be, registeredunder the United States Securities Act of 1933, as amended, and maynot be offered or sold in the United States or to, or for the accountor benefit of, U.S. persons absent registration or an applicableexemption from the registration requirements. This press release shallnot constitute an offer to sell or the solicitation of an offer to buynor shall there be any sale of the securities in any U.S. state inwhich such offer, solicitation or sale would be unlawful.
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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