08:39:46 EDT Wed 02 Jul 2025
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or Name
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Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 104,096,537
Close 2025-03-24 C$ 1.00
Market Cap C$ 104,096,537
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Rock Tech Lithium closes $2.63-million financing

2025-03-25 07:43 ET - News Release

Mr. Derek Sobel reports

ROCK TECH ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Rock Tech Lithium Inc. has closed a non-brokered private placement of units. Pursuant to the offering, the company issued an aggregate of 2,636,000 units at a price $1 per unit for aggregate gross proceeds of $2,636,000.

The units were offered to, and subscribed by, existing shareholders and new investors, notably funds from Europe. Rock Tech intends to use the proceeds of the offering to finance the continued development of the company's integrated conversion strategy, and for general corporate purposes (including expenses incurred by the company in connection with the offering). The company paid finders' fees of 23,967 euros to an arm's-length party in connection with the closing of this offering.

Derek Sobel, chief financial officer Rock Tech, commented: "On behalf of the entire team, I want to thank our shareholders for their continued trust and support. Their commitment to our strategy and long-term vision drives us to deliver growth and value. We remain focused on advancing our projects and adhering to disciplined financial management."

Each unit consists of one common share in the capital of Rock Tech and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common 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 unit shares and warrant shares have been conditionally accepted for listing on the TSX Venture Exchange, which is subject to the final acceptance of the TSX-V.

The company has granted 2.38 million stock options to certain directors, officers and employees of the company. All options were granted in accordance with the company's stock option plan. A total of 800,000 of the options were issued to directors and officers of the company. The options were granted at an exercise price of $1. The options will vest immediately and are exercisable for a five-year term, expiring March 24, 2030.

About Rock Tech Lithium Inc.

Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100-per-cent 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, Ont., 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 (environmental, social and governance) 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.

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