Rock Tech Closes Private Placement, Accelerates Development of Lithium Hydroxide Plant

(TheNewswire)

Vancouver, BC, Canada - TheNewswire January 21, 2021 Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSXV:RCK ) ( Frankfurt: RJIB) is pleased to announce the closing of its non-brokered private placement (the "Offering") of 2,500,000 units (the "Units") of the Company at a price of $1.60 per Unit for gross proceeds of $4,000,000 as announced on January 6, 2021.

"We are humbled and grateful to welcome the new shareholders that share our vision of the lithium market," said Dirk Harbecke, Chairman of the Company. "The electrification of the transportation industry and developments in stationary energy storage represent key investing themes of the next decade and beyond. The faith placed in us by these new shareholders confirms Rock Tech's mission and is a testament to the emerging opportunity in these sectors.

"Proceeds from this private placement, which was fully subscribed for by one placee, in combination with previous recent offerings, will allow the Company to accelerate the technical studies on a lithium hydroxide converter towards feasibility level. We will further intensify our research activities, including the development of our patent-pending lithium hydroxide process. Apart from this we are well funded to further develop the Company's Georgia Lake lithium project and move forward with the permitting process," commented Simon Bodensteiner, Rock Tech's CEO.

All securities issued in connection with the Offering are subject to a four-month hold period expiring on May 22, 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 $2.00 per share until January 21, 2023.

The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any U.S. state in which such offer, solicitation or sale would be unlawful.

On behalf of the Board of Directors,

"Simon Bodensteiner"
Simon Bodensteiner
Director, Chief Executive 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

OR DISSEMINATION IN THE UNITED STATES

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Rock Tech Lithium TSXV:RCK Battery Metals Investing

CENTURY LITHIUM PROVIDES UPDATE ON THE FEASIBILITY STUDY

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or Company) reports that the Feasibility Study on the Company's Clayton Valley Lithium Project (Project), in Nevada, USA under the direction of Wood PLC and Global Resource Engineering Ltd., is currently under review by the Qualified Persons, and the Company anticipates its announcement imminently.

To date, the Company's Feasibility Study team has revised and updated estimates for a phased production approach at the Project. These revisions also included assessment and evaluation of the economic benefit of sales of the surplus sodium hydroxide produced by the chlor-alkali plant.

The Company's Lithium Extraction Facility (Pilot Plant) in Amargosa Valley, Nevada is now in its third year of testing the processing of lithium-bearing claystone from the Project. All data collected has been essential to the Feasibility Study. Century Lithium continues to work toward permitting the Project including the collection of baseline data collection for biology, surface and groundwater hydrology, and social impacts. Earlier this year, baseline reports were submitted by the Company's consultants and were accepted by the appropriate government agencies. Multiple reports have been completed which will aide in the preparation of a Plan of Operations to initiate the National Environmental Policy Act (NEPA) process.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA . Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF Century Lithium CORP.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as " expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

View original content to download multimedia: https://www.prnewswire.com/news-releases/century-lithium-provides-update-on-the-feasibility-study-302121633.html

SOURCE Century Lithium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/19/c7578.html

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Rock Tech Closes Private Placement, Accelerates Development of Lithium Hydroxide Plant

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