#Canada #Toronto #Lithium #Private Placement #Rock Tech

Rock Tech Lithium Completes Funding

Rock Tech Lithium Inc., headquartered in Toronto, has made a significant move in its financial strategy by announcing the completion of the second tranche of its non-brokered private placement. This latest tranche, which issued an additional 1,364,000 units priced at $1.00 per unit, has resulted in gross proceeds reaching approximately $1.36 million. This follows the earlier tranche, culminating in total gross proceeds of $4 million from the two placements combined.

These units consist of one common share and one warrant, giving investors the option to purchase an additional common share at an exercise price of $1.30, valid for 36 months post-issuance. The entire offering is structured to bolster Rock Tech’s strategic initiatives in the lithium sector, targeting sustainable production processes and enhancing supply chain resilience.

Rock Tech has laid out ambitious plans to support the electric vehicle and battery industries with locally sourced lithium. They aim for a fully integrated closed-loop production system, which includes setting up lithium conversion facilities close to their customer bases in Germany and Canada. At the forefront of their strategy is the proposed Lithium Hydroxide Converter in Guben, Brandenburg, with a second planned in Red Rock, Ontario.

To source raw materials, Rock Tech intends to utilize its Georgia Lake spodumene project located in Ontario’s Thunder Bay Mining District, along with procuring supplies from other environmentally and socially responsible mines. This vision supports the development of a sustainable ecosystem within the lithium market, which is crucial as the demand for electric vehicles continues to grow.

On a broader scale, Rock Tech aims to mitigate the environmental impact of lithium production through strict adherences to Environmental, Social and Governance (ESG) practices. They are dedicated to achieving a 100% recycling rate for lithium, recognizing the urgent need for sustainable frameworks in the burgeoning clean mobility sector.

The completion of this funding round follows a series of strategic initiatives and partnerships aimed at solidifying Rock Tech's position in the lithium landscape. Investors looking to engage with the company should note that these offered securities have not been registered under U.S. laws and may only be sold in compliance with those laws or under certain exemptions.

Forward-looking statements in this announcement provide a glimpse into Rock Tech’s aspirations, including plans to explore further strategic investments at the project level. Maintaining a focus on securing necessary regulatory approvals and optimizing the efficiency of their operations are key focal areas for the company moving forward.

In conclusion, Rock Tech Lithium's recent funding success marks a pivotal moment in its journey, enabling it to advance its mission of providing sustainable lithium resources while adapting to the evolving market dynamics. With a robust team and clear goals, the company is well-positioned to contribute significantly to the electric vehicle industry and beyond.