Rock Tech Announces $5.3 Million Financing with Mackie Research Capital Corporation

Rock Tech Lithium Inc. (TSXV:RCK) reports that it has entered into an engagement with Mackie Research Capital Corporation for $5.3 million financing.

The press release is quoted as saying:

The proceeds of the private placement will be used for the further exploration and development of the Company’s Georgia Lake Project (NW Ontario), Kapiwak Project (James Bay Region, Quebec) and Lacorne Project (Val d’Or Region, Quebec) and working capital purposes.  More specifically, Rock Tech will allocate majority of the capital resources for the next phase of the exploration program at Georgia Lake, advancing the project beyond its independent NI43-101 resource estimate that it expects to receive from Caracle Creek Consulting International at the end of June 2011. The next phase will entail a drill program to update the anticipated NI43-101 resource and to commence a Pre-Feasibility Study by December 2011. 

Click here to access the entire news release.

Click here to access Rock Tech’s company profile.