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Vancouver, BC, Canada TheNewswire - February 5, 2021 Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSXV:RCK ) ; ( Frankfurt:RJIB) announces that, further to its news release on December 22, 2020, the TSX Venture Exchange (the "Exchange") has accepted for filing the Personal Information Forms ("PIFs") submitted by Apeiron Investment Group's ("Apeiron") principals, and the Company anticipates the final approval from the Exchange in the coming days.
The investment by Apeiron, the family office of serial entrepreneur and investor, Christian Angermayer, resulted in a post-closing partially-diluted ownership position of 17.4%. Apeiron's subscription of 3,000,000 units of the Company at a price of $0.85 for gross proceeds of $2,550,000 had been completed into escrow subject to the filing of the PIFs with the Exchange. Upon the issuance of the Exchange's approval bulletin, the investment proceeds and the related Units will be released from escrow.
Proceeds from the private placement will be used to fund a Pre-Feasibility Study ("PFS") on a lithium hydroxide converter, continuing investigations of the Company's innovative lithium hydroxide processing circuit, further development and permitting work at the Company's Georgia Lake lithium project and general working capital.
All securities issued in connection with the Offering continues to be subject to a hold period expiring on April 19, 2021. Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the Company at a price of $1.00 per share until December 17, 2022, subject to accelerated expiry in certain circumstances.
On behalf of the Board of Directors,
"Brad Barnett"
Brad Barnett
Director, Chief Financial Officer
For further information, please contact:
Brad Barnett
Chief Financial Officer
Rock Tech Lithium Inc.
777 Hornby Street, Suite 600
Vancouver, B.C., V6Z 1S4
Telephone: (778) 358-5200
Facsimile: (604) 670-0033
Email: bbarnett@rocktechlithium.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward ‐ looking statements". Forward ‐ looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward ‐ looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward ‐ looking statements.
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