(TheNewswire)
Vancouver, BC, Canada - TheNewswire – January 26, 2021 – Rock Tech Lithium Inc. (the"Company" or “Rock Tech”) (TSXV:RCK ) ( Frankfurt:RJIB) (OTC: RCKTF ) is pleased toannounce that it has entered into a Framework Cooperation Agreement(“FCA”) with the German construction company GP Günter PapenburgAG (“Papenburg”).
Under the FCA which expires on October 31, 2021, Rock Tech obtains theexclusive right to purchase up to 20 hectares (“ha”) of land forthe construction of a Lithium Hydroxide Converter in the state ofSaxony-Anhalt, a region with a long history of mining and chemicalprocessing which hosts a highly skilled workforce pool for theconverter.
The chosen site is strategically placed near the two chemical parks ofBitterfeld-Wolfen and Piesteritz from which most of the reagents forthe conversion process can be sourced. Further, it is located only 160km south-west of Tesla’s new gigafactory in Grünheide and 130 kmwest of BASF’s new cathode factory in Schwarzheide.
The Company considers the ability to expand the site layout in thefuture a key advantage over a site in one of the chemical parks wherespace is scarce and therefore expansion optionality is limited.
In addition, Rock Tech and Papenburg will cooperate in the fields oflogistics and recycling. The Parties have agreed on principal termsfor the handling of the residue materials and by-products theconverter will produce in Germany. As part of the ongoingPre-Feasibility work, Rock Tech is assessing various converterconfigurations as well as process flowsheets, including itsproprietary Nitrate Process, for which the company filed a patentapplication late last year. Depending on the final converterconfiguration, different materials will be generated at site, such asaluminosilicates and/or gypsum. Subject to a binding agreementPapenburg will guarantee the offtake of these materials and willcooperate with Rock Tech on recycling them into value-addingapplications.
“We are very pleased to work together with Papenburg as a highlyreputable and well-known construction company in Germany, employingover 3,800 people with a turnover of EUR 1.0 billion in 2019. Apartfrom its construction business, the company also has a large logisticsunit which can assist Rock Tech in determining the most cost-effectivetransport strategy from the ports to the converter and to thecustomers. The ongoing Pre-Feasibility work will assess the mosteconomic plant configuration, including a possible split of theconverter in a Canadian unit and a German unit, which will dictatewhere certain by-products are generated. It is important for us thatthe target converter location can handle a variety of configurations.This is clearly the case for the site provided by Papenburg,” saidSimon Bodensteiner, Rock Tech’s Chief Executive Officer.
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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