Rock Tech and Arcore Enter into Strategic Partnership for European Lithium Supply Arcore AG and Rock Tech have concluded a strategic partnership to regionally source and supply Rock Tech's converter operations in Europe
Rock Tech and Arcore Enter into Strategic Partnership for
European Lithium Supply
Arcore AG and Rock Tech have concluded a strategic partnership to regionally source and supply Rock Tech's converter
operations in
Europe
.
European lithium shall be sustainably sourced from Arcore's wholly-owned Lopare mining project in
Bosnia and Herzegovina
.
TORONTO
and ZUG,
Switzerland
,
Nov. 13, 2023
/CNW/ -
Rock Tech Lithium Inc.
(TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB)
(WKN: A1XF0V)
(the "Company" or "Rock Tech") and Arcore are pleased to announce a strategic partnership to secure a reliable and long-
term supply of lithium products for Rock Tech's European converter operations. The parties intend to regionally source sustainable
European lithium from Arcore's wholly-owned Lopare mining project in
Bosnia and Herzegovina
to feed Rock Tech's conversion facility.
Arcore AG and Rock Tech have concluded a strategic partnership to regionally source and supply Rock Tech’s converter operations in
Europe. (CNW Group/Rock Tech Lithium Inc.)
Rock Tech and Arcore, a privately-owned Swiss-based lithium mining company, have agreed to explore a strategic partnership with the aim to
secure long-term supply of lithium chemicals to Rock Tech's European converter. This partnership is intended to enable Rock Tech to access
Arcores considerable lithium resources at its Lopare Project in
Bosnia and Herzegovina
.
This forthcoming collaboration is an unambiguous proof of the development of a regional and domestic value chain for EV batteries within
Europe
, to which both companies are contributing through lithium supply and conversion. As next steps the Parties intend to define product
specifications, negotiate an offtake agreement including quantities and prices. The Parties are committed to working towards a zero-waste
and net-zero emission production of lithium.
"Arcore's project is an important element of our regional supply strategy. Linking with Arcore also demonstrates how important our converter
in
Europe
is for making lithium consumable for European cathode and battery manufacturers. I'm looking forward to taking and implementing
the next steps, which will undoubtedly meet the industry's needs," said Rock Tech's CEO Dirk Harbecke.
Ali Vezvaei, Chairman of the Supervisory Board of Arcore, said, "Arcore is delighted to partner with Rock Tech, and we look forward to a
successful and synergetic relationship, not only commercially for the parties, but also strategically for the European continent as a whole. Our
supply of lithium will contribute to Rock Tech's cutting-edge converter operations."
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in
Canada
and
Germany
on a mission to produce lithium hydroxide for electric vehicle
batteries. The Company plans to build lithium converters at the door-step of its customers, to guarantee supply-chain transparency and just-in-
time delivery, beginning with the Company's proposed lithium hydroxide merchant converter and refinery facility in Guben,
Germany
. To close
the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The Company has
adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing
efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the
Thunder Bay Mining District of
Ontario, Canada
, as well as procuring it from other responsibly producing mines. In the years to come, the
Company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system.
www.rocktechlithium.com
ABOUT ARCORE
Arcore is a privately-owned
Switzerland
-based lithium mining company with extensive lithium resources and a commitment to environmental
and safety standards while seeking to accelerate
Europe's
energy transition reliably.
https://arcore.ch/
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.
C
AUTIONARY 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 outcome of amount, quality of products from Arcore's future mining operations,
regulatory decisions and outcomes; schedules and completion dates; access to capital markets and other sources of financing; the supply and
demand for, deliveries of, and the level and volatility of prices of, intermediate and final lithium products; future exchange and interest rates;
general business and economic conditions; the costs and results of development, exploration and operating activities; Rock Tech's ability to
procure supplies and other equipment necessary for its business; and the accuracy and reliability of technical data, forecasts, estimates and
studies;; Rock Tech's opinions, beliefs and expectations regarding the outcome of the above mentioned agreement, the Company's own
business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's
operations and properties; the pending development of Arcore's development, their accuracy and reliability of technical data, forecasts,
estimates and studies.
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. There may also be other factors that cause actual
results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's
most recent management's discussion and analysis and annual information form filed with the applicable securities regulators, or known and
unknown risks and uncertainties that may the Company's ability to access additional funding required to invest in available opportunities and
projects.
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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For further information:
Rock Tech: André Mandel, phone: +49 (0) 2102 89 41 116; or email: [email protected], Rock Tech
Lithium Inc.; 2400-333 Bay Street, Toronto ON M5H 2T6, Canada; Arcore: Mathias Schmid, email: [email protected], Arcore AG,
Steinhauserstr. 74, 6300 Zug, Switzerland
CO: Rock Tech Lithium Inc.
CNW 04:49e 13-NOV-23