Vancouver, BC, Canada – February 11, 2021 – Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) wishes to provide an update on its downstream activities.
The Company is pleased to announce it has engaged Wave International (“Wave”) to complete basic engineering work and cost estimation for 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 extensive experience in the Lithium ion battery supply chain, and specialist expertise in downstream lithium hydroxide production. Wave have worked extensively on various world class downstream lithium projects in Australia, Asia and Europe.
Wave will assist Rock Tech in providing process design, defining the optimal plant configuration, finalizing site selection, including infrastructure needs, and will also support Rock Tech in managing the upcoming pilot programs. The pilot programs will assess both the traditional sulphate route and the Company’s innovative patent-pending Nitrate Process. Rock Tech aims to produce lithium hydroxide from these programs during the second quarter. In addition, Rock Tech is in the last due diligence phase on possible converter sites now including discussions with major stakeholders, locals and permitting agencies in Europe.
Rock Tech is in the process of incorporating a German subsidiary, has recently opened its first office in Munich and is scaling up its team in both Germany and Thunder Bay, including the mobilization of the integrated Wave and Rock Tech team into Germany during January this year. The Company is adding management, engineering, chemistry and marketing specialists to its team.
Furthermore, the Company has been made aware of a publication based partially on a technical report previously filed on November 9, 2020. As previously announced on December 18, 2020, the economic analyses disclosed in a news release dated November 4, 2020, and contained in this publication, are not currently supported by an NI 43-101 technical report. While this information remains in the public domain, the Company cannot monitor how the information is being used now or in the future. The Company reminds not to rely upon it until such time as the revised report has been filed.
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.