Rock Tech Announces 2nd Tranche and Final Close of Non- Brokered Private Placement
Rock Tech Announces 2nd Tranche and Final Close of Non-
Brokered Private Placement
TORONTO
,
March 27, 2025
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or
"Rock Tech") is pleased to announce a second tranche closing of its previously announced non-brokered private placement (the "Offering") of
units (the "Units"). For this second tranche, the Company issued an additional 1,364,000 Units at a price of
$1.00
per Unit for gross proceeds of
$1,364,000
. In aggregate, the Company has issued 4,000,000 Units at a price of
$1.00
per Unit for total gross proceeds of
$4,000,000
- inclusive
of the first tranche closing and the second tranche closing.
Each Unit consists of one common share in the capital of Rock Tech (the "
Common Shares
", with such Common Shares comprising the Units,
the "
Unit Shares
") and one Common Share purchase warrant (each whole Common Share purchase warrant, a "
Warrant
", and together with the
Units and the Unit Shares, the "
Securities
"). Each Warrant entitles the holder thereof to purchase one Common Share (a "
Warrant Share
") at an
exercise price of
$1.30
per Warrant Share for a period of 36 months following the date of issuance of such Warrant, subject to and in accordance
with the terms and conditions of the certificate evidencing such Warrant, including adjustment in certain circumstances.
The Securities offered pursuant to the 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 any state securities laws of any state of
the United States
and accordingly may not be offered or sold
within
the United States
except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or
pursuant to exemptions therefrom. The Unit Shares and Warrant Shares have been conditionally accepted for listing on the TSX-V, which is
subject to the final acceptance of the TSX-V.
All dollar amounts in this news release are expressed in Canadian dollars.
On behalf of the Board of Directors,
Dirk Harbecke
Chairman & CEO
ABOUT ROCK TECH
Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100% recycling rate.
To ensure resilient supply chains, the company plans to build lithium converters at the doorstep of its customers, beginning with the Company's
proposed Lithium Hydroxide Converter in Guben, Brandenburg,
Germany
. The second Converter is planned to be built in
Red Rock, Ontario,
Canada
. Rock Tech Lithium plans to source raw material from its own
Georgia Lake
spodumene project in the Thunder Bay Mining District of
Ontario, Canada
, and procure from other ESG-compliant mines. Ultimately, Rock Tech's goal is to create a closed-loop lithium production
system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The
Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase
efficiency and sustainability further.
CAUTIONARY 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 news release
contains forward-looking information pertaining to: the intended use of proceeds from the Offering and allocation thereof; listing of the Unit Shares
on the TSX-V, including obtaining the final acceptance of the TSX-V; discussions with strategic and financial investors to explore potential
opportunities for investments directly at the project level, including the Company's converter projects in
Germany
and
Canada
and the Georgia
Lake Project; and Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration
opportunities and projects, and plans and objectives of management for the Company's operations and properties. Forward-looking information is
based on certain assumptions, estimates, expectations and opinions of the Company and, in certain cases, third party experts, that are believed
by management of Rock Tech to be reasonable at the time they were made. Forward-looking information is derived utilizing numerous
assumptions regarding, among other things: the satisfaction of the conditions to obtain final acceptance of the TSX-V approval for the listing of
the Unit Shares on the TSX-V; the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and
final lithium products; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; expected
growth, performance and business operations; future commodity prices and exchange rates; prospects, growth opportunities and financing
available to the Company; general business and economic conditions; the costs and results of exploration, development 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. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-
looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to
be incorrect and should not be read as a guarantee of future performance or results. Except as may be required by law, Rock Tech undertakes
no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether
as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions
or circumstances on which any such information is based. The forward-looking information contained herein is presented for the purposes of
assisting readers in understanding Rock Tech's plans, objectives and goals and is not appropriate for any other purposes.
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.
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SOURCE
Rock Tech Lithium Inc.
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For further information:
For further information: Konstantin Burger, VP IR: [email protected] +49 89 244109149, Rock Tech Lithium
Inc, 2400-333 Bay Street, Toronto ON M5H 2T6, CAN.
CO: Rock Tech Lithium Inc.
CNW 16:15e 27-MAR-25