(TheNewswire)
Vancouver, BC, Canada - TheNewswire – February 11, 2021 – Rock Tech Lithium Inc. (the"Company" or “Rock Tech”) (TSXV:RCK ) ( Frankfurt:RJIB) (OTC: RCKTF ) wishes to provide anupdate on its downstream activities.
The Company is pleased to announce it has engaged Wave International(“Wave”) to complete basic engineering work and cost estimationfor its planned Lithium Hydroxide operations to a Class 4 level,according to the Association for the Advancement of Cost Engineering(“AACE”). Wave are an asset development consultant, with extensiveexperience in the Lithium ion battery supply chain, and specialistexpertise in downstream lithium hydroxide production. Wave have workedextensively on various world class downstream lithium projects inAustralia, Asia and Europe.
Wave will assist Rock Tech in providing process design, defining theoptimal plant configuration, finalizing site selection, includinginfrastructure needs, and will also support Rock Tech in managing theupcoming pilot programs. The pilot programs will assess both thetraditional sulphate route and the Company’s innovativepatent-pending Nitrate Process. Rock Tech aims to produce lithiumhydroxide from these programs during the second quarter. In addition,Rock Tech is in the last due diligence phase on possible convertersites now including discussions with major stakeholders, locals andpermitting agencies in Europe.
Rock Tech is in the process of incorporating a German subsidiary, hasrecently opened its first office in Munich and is scaling up its teamin both Germany and Thunder Bay, including the mobilization of theintegrated Wave and Rock Tech team into Germany during January thisyear. The Company is adding management, engineering, chemistry andmarketing specialists to its team.
Furthermore, the Company has been made aware of a publication basedpartially on a technical report previously filed on November 9, 2020.As previously announced on December 18, 2020, the economic analysesdisclosed in a news release dated November 4, 2020, and contained inthis publication, are not currently supported by an NI 43-101technical report. While this information remains in the public domain,the Company cannot monitor how the information is being used now or inthe future. The Company reminds not to rely upon it until such time asthe revised report has been filed.
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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