Rock Tech Closes Private Placement, Accelerates Development of Lithium Hydroxide Plant

Vancouver, BC, Canada – TheNewswire – January 21, 2021 Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSXV:RCK) (Frankfurt: RJIB) is pleased to announce the closing of its non-brokered private placement (the “Offering”) of 2,500,000 units (the “Units”) of the Company at a price of $1.60 per Unit for gross proceeds of $4,000,000 as announced on January 6, 2021.

"We are humbled and grateful to welcome the new shareholders that share our vision of the lithium market,” said Dirk Harbecke, Chairman of the Company. “The electrification of the transportation industry and developments in stationary energy storage represent key investing themes of the next decade and beyond. The faith placed in us by these new shareholders confirms Rock Tech’s mission and is a testament to the emerging opportunity in these sectors.

“Proceeds from this private placement, which was fully subscribed for by one placee, in combination with previous recent offerings, will allow the Company to accelerate the technical studies on a lithium hydroxide converter towards feasibility level. We will further intensify our research activities, including the development of our patent-pending lithium hydroxide process. Apart from this we are well funded to further develop the Company’s Georgia Lake lithium project and move forward with the permitting process,” commented Simon Bodensteiner, Rock Tech’s CEO.


All securities issued in connection with the Offering are subject to a four-month hold period expiring on May 22, 2021. Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share 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, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any U.S. state in which such offer, solicitation or sale would be unlawful.


On behalf of the Board of Directors,


"Simon Bodensteiner"
Simon Bodensteiner
Director, Chief Executive Officer

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forwardlooking statements".  Forwardlooking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions.  The Company cautions readers that forwardlooking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forwardlooking statements.



Copyright (c) 2021 TheNewswire – All rights reserved.

You must be logged in to post a comment Login