Rock Tech Announces Private Placement to Increase Strategic Cash Reserves

Rock Tech Lithium (TSXV:RCK) has announced that it will conduct a non-brokered private placement of up to 3,333,334 units at $0.90 per unit for proceeds of up to $3,000,00.
As quoted in the press release:

Each unit will consist of one common share of the Company and one half of one share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share at a price of $1.45 per share for a period of 24 months from the date of closing, subject to accelerated expiry in certain circumstances.

Martin Stephan, director and CEO, said:

While Rock Tech Lithium’s planned activities in 2016 and 2017 are fully funded, increasing the Company’s cash position at this time will ensure we are positioned to capitalize on any battery metal opportunities that present themselves in the future.
It is an exciting time to be developing Rock Tech Lithium,” Mr. Stephan continued, “the recently ratified Paris Climate Agreement is just one of the many factors supporting the case for greener and cleaner energy. Lithium and other battery metals are, perhaps, the most critical ingredients for allowing nations to meet their emissions reduction targets. The lithium market is characterized, for at least the next eight years, by tight supply due to much higher demand than originally and even now anticipated. It would appear that many analysts remain unaware of the situation.

Click here to read the full press release.