TORONTO, Oct. 7, 2024 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) is a unit (hereinafter the “Unit”) announces the completion of a non-brokered private placement (hereinafter the “Offering”). Pursuant to this offering, the Company issued a total of 2,761,498 units at a price of $1.20 per unit, resulting in aggregate gross proceeds of $3,313,798.
Rock Tech completes funding. (CNW Group/Rocktec Lithium Co., Ltd.)
The units were offered and subscribed to by existing shareholders and new investors, particularly European investment companies and family offices. Rock Tech intends to use the proceeds from this offering for the continued development of our North American Converter project, further development of our recycling strategy, and for general corporate purposes, including costs incurred by us in connection with the offering. ) will be used to fund the. The Company paid an independent party finder’s fee of $28,440 in connection with the completion of this offering. )
Konstantin Berger, Vice President Investor Relations, commented: “We would like to thank our existing shareholders for their continued support and welcome all new shareholders to Rock Tech. We continue to execute on our strategy and raise capital with new investors. Procurement allows us to remain strategically agile.” We are advancing our efforts regarding the use of recycled materials in our converters and securing financing options, as well as regarding Guben’s project-level investments and additional grants. We continue to negotiate with strategic and financial investors. ”
Each Unit consists of one common share in the capital stock of Rock Tech (a “Common Share”; the common shares comprising the Unit are a “Unit Share”) and one common stock purchase warrant (each entire Common Stock Purchase Warrant, a “Unit Share”). It consists of “Stock acquisition rights,” together with units and unit shares, are referred to as “securities.” ) Each Stock Acquisition Warrant entitles the holder thereof to one common share (“Warrant Share ”). Conditions of the certificate evidencing such warrant, including adjustments in specific circumstances.
The securities offered under this offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under the state securities laws of any state in the United States. Not registered. Accordingly, it may not be offered or sold in the United States except pursuant to the registration requirements or exemptions from the U.S. Securities Act and applicable state securities laws. The shares and warrants have been conditionally approved for listing on the TSX-V and are subject to final approval by the TSX-V.
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All amounts in this news release are expressed in Canadian dollars.
On behalf of the Board of Directors,
Dirk Harbecke
Chairman and CEO
About Rocktech
Rock Tech’s vision is to supply sustainable, locally produced lithium to the electric vehicle and battery industry, with a goal of 100% recycling rate. To ensure supply chain resilience, the company plans to build lithium converters in close proximity to its customers, starting with a proposed lithium hydroxide converter in Guben, Brandenburg, Germany. The second converter will be built in Red Rock, Ontario, Canada. Rock Tech Lithium sources its raw materials from its own Lake Georgia pyroxene project in the Thunder Bay mining district of Ontario, Canada, and plans to source from other ESG-compliant mines. Ultimately, Rock Tech’s goal is to create a closed-loop lithium production system. Rock Tech has brought together one of the strongest teams in the industry to fill the most pressing gaps in the clean mobility story. We have adopted rigorous environmental, social and governance standards and have developed proprietary refining processes to further increase efficiency and sustainability.
Cautionary Note Regarding 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, that concern events, results, results or developments that the Company expects to occur are forward-looking statements. As used in this news release: “expects”, “anticipates”, “plans”, “anticipates”, “believes”, “estimates”, “intends”, “goals”, “project”, “predicts” , “may,” “will,” “should,” “will,” “could,” or the negative thereof, as well as other similar expressions, refer to forward-looking statements. The purpose is to identify the description. In particular, this news release contains forward-looking information regarding: Use of proceeds from the offering and their allocation. listing of the unit shares on the TSX-V, including obtaining final approval of the TSX-V; Discussions with strategic and financial investors to explore potential direct investment opportunities at the project level, including the company’s converter projects in Germany and Canada and its Lake Georgia project. Rock Tech’s opinions, beliefs and expectations regarding our business strategy, development and exploration opportunities and projects, and management plans and objectives for our operations and properties; Forward-looking information is based on certain assumptions, estimates, expectations and opinions of the Company and, in some cases, third-party experts, that Rock Tech’s management believes to be reasonable at the time of preparation. Masu. Forward-looking information is derived using a number of assumptions regarding, among other things: the satisfaction of the conditions for obtaining final approval of TSX-V approval for the listing of the Unit Shares on the TSX-V; supply and demand, deliveries, and price levels and volatility of raw materials and intermediate and finished lithium products; the ability to obtain all necessary regulatory approvals and permits on the required terms and in a timely manner; expected growth, performance and business operations; Future commodity prices and exchange rates. prospects, growth opportunities and financing available to us; General Business and Economic Conditions. costs and results of exploration, development and operational activities; Rock Tech’s ability to procure supplies and other equipment necessary for its operations; ACCURACY AND RELIABILITY OF TECHNICAL DATA, FORECASTS, ESTIMATES, AND RESEARCH. The foregoing list is not an exhaustive list of all assumptions that may have been used in developing the forward-looking information. Although Rock Tech believes these assumptions to be reasonable based on currently available information, they may prove to be incorrect and are not warranted as guarantees of future performance or results. It is not to be construed. Except as required by law, Rock Tech undertakes no obligation to update or revise forward-looking information to reflect changes, whether as a result of new information, future events or otherwise. , obligations or undertakings, and are expressly disclaimed. changes in Rock Tech’s expectations or events, conditions or circumstances on which such information is based; The forward-looking information contained herein is provided for the purpose of assisting the reader in understanding Rock Tech’s plans, objectives and goals and is not appropriate for any other purpose.
Neither TSX VENTURE EXCHANGE nor its Regulation Services Provider (as that term is defined in the policies of TSX VENTURE EXCHANGE) accepts responsibility for the adequacy or accuracy of this release.
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Source Rock Tech Lithium Inc.
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