(TheNewswire)
Vancouver, BC, Canada - TheNewswire - November 30 2020 - Rock Tech Lithium Inc. (the"Company" or "Rock Tech") (TSXV:RCK ) ( Frankfurt:RJIB) announces that, further to thepress release on November 10, it has increased its non-brokeredprivate placement (the "Offering") up to 10,000,000 units(the "Units") of the Company at a price of $0.85 per Unitfor gross proceeds of up to $8,500,000.
"We have received very positive feedback and highdemand for our private placement from renowned institutionalinvestors, confirming that we are very much on the right track,"said Dirk Harbecke, Chairman of Rock Tech. "The increasedOffering will help us accelerate our project development."
Proceeds from the private placement will be used to fund aPre-Feasibility Study ("PFS") on a lithium hydroxideconverter, continuing investigations of the Company's innovativelithium hydroxide processing circuit, further development andpermitting work at the Company's Georgia Lake lithium project andgeneral working capital.
All other terms of the Offering remain as announced on November 10,2020. 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 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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