NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, BC, Canada – January 6, 2021 – Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) announces that it will conduct a non-brokered private placement (the “Offering”) with an institutional investor of up to 2,500,000 units (the “Units”) of the Company at a price of $1.60 per Unit for gross proceeds of up to $4,000,000.
Each Unit will consist of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share of the Company at a price of $2.00 per share for a period of 24 months from the date of closing.
Proceeds from the private placement will be used to fund Feasibility Studies on a lithium hydroxide converter, continuing investigations of the Company’s innovative lithium hydroxide processing circuit, further development and permitting work at the Company’s Georgia Lake lithium project and general working capital.
This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or exempt from such registration.
The closing of the Offering is subject to regulatory approval including that of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period.
On behalf of the Board of Directors,
Director, Chief Executive Officer
For further information, please contact:
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, "forward‐looking statements". Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking 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 forward‐looking statements.