TORONTO, Oct. 7, 2024 /PRNewswire/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech“) is happy to announce the terminating of a non-brokered personal placement (the “Offering“) of gadgets (the “Units“). Pursuant to the Providing, the Corporate issued an mixture of two,761,498 Gadgets at a worth $1.20 in step with Unit for mixture improper proceeds of $3,313,798.
The Gadgets had been introduced to and subscribed via current shareholders and fresh traders, significantly funding corporations and society places of work from Europe. Rock Tech intends to virtue the proceeds of the Providing to finance the ongoing construction of the Corporate’s North American Converter challenge, the additional construction of the Corporate’s recycling technique, and for normal company functions (together with bills incurred via the Corporate in reference to the Providing. The Corporate paid finder charges of $28,440 to an arm’s-length celebration in reference to the terminating of this Providing.).
Konstantin Burger, VP Investor Family members feedback: “I want to thank our existing shareholders for their continued support and welcome all new shareholders to Rock Tech. We continue to implement our strategy and raise capital with new investors. This financing allows us to remain strategically agile, progress our work on the use of recycled material in our Converters, and secures our cash runway. At the same time, our negotiations with strategic and financial investors for investments at the project level in Guben as well as additional subsidies continue.”
Each and every Unit is composed of 1 usual percentage within the capital of Rock Tech (the “Common Shares“, with such Ordinary Stocks comprising the Gadgets, the “Unit Shares“) and one Ordinary Proportion acquire warrant (every complete Ordinary Proportion acquire warrant, a “Warrant“, and at the side of the Gadgets and the Unit Stocks, the “Securities“). Each and every Warrant entitles the holder thereof to buy one Ordinary Proportion (a “Warrant Share“) at an workout worth of $1.59 in step with Warrant Proportion for a duration of 36 months following the hour of issuance of such Warrant, matter to and in keeping with the phrases and situations of the certificates evidencing such Warrant, together with adjustment in positive cases.
The Securities introduced pursuant to the Providing have no longer been, and may not be, registered underneath america Securities Occupation of 1933, as amended (the “U.S. Securities Act“), or any circumstance securities regulations of any circumstance of america and accordingly might not be introduced or offered inside america aside from in compliance with the registration necessities of the U.S. Securities Occupation and appropriate circumstance securities regulations or pursuant to exemptions therefrom. The Unit Stocks and Warrant Stocks were conditionally approved for record at the TSX-V, which is matter to the overall acceptance of the TSX-V.
All buck quantities on this information leave are expressed in Canadian greenbacks.
In the name of the Board of Administrators,
Dirk Harbecke
Chairman & CEO
ABOUT ROCK TECH
Rock Tech’s sight is to provide the electrical car and battery business with sustainable, in the neighborhood produced lithium, focused on a 100% recycling fee. To assure resilient provide chains, the corporate plans to form lithium converters on the doorstep of its consumers, starting with the Corporate’s proposed Lithium Hydroxide Converter in Guben, Brandenburg, Germany. The second one Converter is deliberate to be inbuilt Purple Rock, Ontario, Canada. Rock Tech Lithium plans to supply uncooked subject matter from its personal Georgia Pond spodumene challenge within the Thunder Bay Mining District of Ontario, Canada, and acquire from alternative ESG-compliant mines. In the long run, Rock Tech’s objective is to build a closed-loop lithium manufacturing machine. Rock Tech has collected one of the most most powerful groups within the business to similar essentially the most urgent hole within the blank mobility tale. The Corporate has followed strict environmental, social and governance requirements and is growing a proprietary refining procedure to extend potency and sustainability additional.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
Sure statements contained on this information leave represent “forward-looking information” underneath appropriate securities regulations and are referred to herein as “forward-looking statements”. All statements, alternative than statements of ancient truth, which cope with occasions, effects, results or traits that the Corporate expects to happen are forward-looking statements. When old on this information leave, phrases reminiscent of “expects”, “anticipates”, “plans”, “predicts”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts”, “may”, “will”, “should”, “would”, “could” or unfavourable variations thereof and alternative homogeneous expressions are supposed to spot forward-looking statements. Specifically, this information leave incorporates forward-looking data touching on: the supposed virtue of proceeds from the Providing and allocation thereof; record of the Unit Stocks at the TSX-V, together with acquiring the overall acceptance of the TSX-V; discussions with strategic and monetary traders to discover attainable alternatives for investments without delay on the challenge stage, together with the Corporate’s converter tasks in Germany and Canada and the Georgia Pond Mission; and Rock Tech’s critiques, ideals and expectancies in regards to the Corporate’s industry technique, construction and exploration alternatives and tasks, and plans and targets of control for the Corporate’s operations and houses. Ahead-looking data is in accordance with positive suppositions, estimates, expectancies and critiques of the Corporate and, in positive instances, 3rd celebration professionals, which can be believed via control of Rock Tech to be cheap on the hour they had been made. Ahead-looking data is derived using various suppositions relating to, amongst alternative issues: the pleasure of the situations to acquire ultimate acceptance of the TSX-V goodwill for the record of the Unit Stocks at the TSX-V; the provision and insist for, deliveries of, and the extent and volatility of costs of, feedstock and intermediate and ultimate lithium merchandise; that every one required regulatory approvals and allows may also be got at the vital phrases in a well timed approach; anticipated enlargement, efficiency and industry operations; moment commodity costs and change charges; potentialities, enlargement alternatives and financing to be had to the Corporate; normal industry and financial situations; the prices and result of exploration, construction and working actions; Rock Tech’s talent to acquire provides and alternative apparatus vital for its industry; and the accuracy and reliability of technical information, forecasts, estimates and research. The foregoing record isn’t exhaustive of all suppositions which will have been old in growing the forward-looking data. Day Rock Tech considers those suppositions to be cheap in accordance with data lately to be had, they’ll end up to be flawed and will have to no longer be learn as a word of honour of moment efficiency or effects. Except for as could also be required via regulation, Rock Tech undertakes refuse legal responsibility and expressly disclaims any duty, legal responsibility or enterprise to replace or to revise any forward-looking data, whether or not because of fresh data, moment occasions or in a different way, to mirror any exchange in Rock Tech’s expectancies or any exchange in occasions, situations or cases on which such a data is based totally. The forward-looking data contained herein is gifted for the needs of helping readers in working out Rock Tech’s plans, targets and objectives and isn’t suitable for any alternative functions.
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.
SOURCE Rock Tech Lithium Inc.
