Rock Tech Lithium Closes Non-Brokered Private Placement for Aggregate Gross Proceeds of approximately $4.7 Million
/NOT FOR DISTRIBUTION TO
The Units were subscribed by two existing institutional shareholders. The Company intends to use the net proceeds raised from the Offering to fund the continued development of the Company's integrated conversion strategy, and for general corporate and working capital purposes.
Each Unit consists of one common share in the capital of Rock Tech (the "Common Shares", with such Common Shares comprising the Units, the "Unit Shares") and one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant", and together with the Units and the Unit Shares, the "Securities"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of
Closing of the Offering remains subject to receipt of final approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in
The Company also announces that is has granted 2,510,000 stock options to certain directors, officers and employees of the Company. All Options were granted in accordance with the Company's Stock Option Plan. 1,300,000 of the options were issued to Directors and Officers of the Company. The Options were granted at an exercise price of
All dollar amounts in this news release are expressed in Canadian dollars.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Company,
CEO
ABOUT ROCK TECH LITHIUM
Rock Tech is enabling the battery age by making the battery industries in
Rock Tech relies on responsible sourcing, state-of-the-art and proven technologies, and a clear focus on circular economy principles. The Company's lithium hydroxide converter projects in
The raw materials for Rock Tech's converter projects are sourced exclusively from verifiably ESG-compliant suppliers. In
With its facilities, Rock Tech makes a central contribution to battery-grade material sovereignty and the achievement of climate targets. The company works in partnership with industry, policymakers, and community groups, and is committed to open communication and the highest environmental standards.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements.
In particular, this press release contains forward-looking information pertaining to the expectations of the Company's management regarding the use of proceeds and the use of the available funds following completion of the Offering; receipt of all necessary approvals for the Offering; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties. The forward-looking information in this news release is based on several key assumptions and material factors, including but not limited to, obtaining necessary board, shareholder, and regulatory approvals. The forward-looking information also assumes favorable market conditions for lithium. Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements, including general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; investor demand; changes in project plans; and risks, uncertainties and other factors discussed in the Company's public disclosure documents available under its profile on SEDAR+. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
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SOURCE Rock Tech Lithium Inc.
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