VANCOUVER, BC, Oct. 24,
2022 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK)
(OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the
"Company") and Transamine Holdings and Investments Limited
("Transamine") are pleased to announce that they have entered into
a definitive agreement to form a joint venture entity called "RTT
Lithium SA" ("RTT"). RTT shall identify, pursue, and secure the
supply of and to establish a new route for lithium-bearing
spodumene for the Company's planned European lithium converters.
RTT is expected to offer spodumene producers a single resilient and
transparent off-take option by providing feedstock to Rock Tech,
which intends to supply lithium to customers in the European
automotive sector.
"RTT is expected to provide Rock Tech with the capacity to
secure a deep pipeline of potential raw material sources and is an
important step in advancing the Company's diversified sourcing
strategy," said Markus Bruegmann,
the Company's Chief Executive Officer. "Transamine is a partner
with 70 years of expertise in the global non-ferrous raw materials
trading space and has the liquidity and access to financing
necessary for potential purchase financing."
Jean-Pierre Adamian, Director of
Transamine explained, "We intend to create a new and reliable
solution for spodumene concentrate producers to, via Rock Tech,
supply the European lithium market as part of a supply chain that
is transparent, traceable and ESG compliant, from mines to the
off-take market. This will also help us to grow in a strategic
market of critical raw materials."
RTT will be a 50/50 joint venture company to be based in
Geneva, Switzerland, which is
expected to be formed end 2022. In connection with the joint
venture, Rock Tech and Transamine have entered into a definitive
agreement to establish the terms governing the formation and
operations of RTT.
Pursuant to the definitive agreement, RTT will manage the
procurement of spodumene concentrate from global mining companies
and spodumene producers and arrange related logistical and storage
services, Transamine will provide related financing and Rock Tech
will support the identification of spodumene producers, marketing
activities, and will be primarily responsible for ESG auditing and
compliance. Future deliveries of spodumene concentrate by RTT to
Rock Tech will be governed by long-term feedstock supply agreements
to be entered into between RTT and Rock Tech.
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
ABOUT ROCK TECH
Rock Tech is a cleantech company on a mission to produce lithium
hydroxide for EV batteries. The Company plans to build lithium
converters at the door-step of its customers, to guarantee
supply-chain transparency and just-in-time delivery. To close the
most pressing gap in the clean mobility story, Rock Tech has
gathered one of the strongest teams in the industry. The Company
has adopted strict ESG standards and is developing a proprietary
refining process aimed at further increasing efficiency and
sustainability. Rock Tech plans to source raw material from its own
mineral project in Canada as well
as procuring it from other responsibly producing mines. In the
years to come, the Company expects to also source raw material from
discarded batteries. Rock Tech's goal: to create a closed-loop
lithium production system. www.rocktechlithium.com.
ABOUT TRANSAMINE
Founded in 1953, Transamine SA is an independent and privately
held commodities trading company specializing in non-ferrous raw
materials. Transamine is headquartered in Geneva, Switzerland, and has offices
throughout key markets including Australia, South
Africa, India, the United States and China. Transamine is a full-service company
providing worldwide raw material sourcing, marketing, finance, and
investment and specializes in all aspects of non-ferrous raw
materials production and trade. Transamine recently added lithium,
mostly in form of spodumene, to its traditional activity and will
maintain the highest standard of conduct to promote fundamental
principles such as sustainability, environment, and social
responsibilities.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY NOTE CONCERNING
FORWARD-LOOKING INFORMATION
The following cautionary statements are in addition to all other
cautionary statements and disclaimers contained elsewhere in, or
referenced by, this press release. Certain information set
forth in this press release constitutes "forward-looking
information" within the meaning of applicable Canadian securities
laws, which information is based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience
and its perception of historical trends. All statements other
than statements of historical facts may constitute forward-looking
information. Often, forward-looking information can be identified
by the use of words or phrases such as "estimate", "project",
"anticipate", "expect", "intend", "believe", "hope", "may" and
similar expressions, as well as "will", "shall" and all other
indications of future tense. All forward-looking information set
forth in this press release is expressly qualified in its entirety
by the cautionary statements referred to in this section.
For example, forward-looking information contained in this
press release includes: expectations regarding the
relationship between Rock Tech and Transamine, including future
actions to be taken by the parties and the anticipated
benefits thereof; statements regarding RTT, its operations and
functions, including the formation of such joint-venture entity,
that it will enter into long-term supply agreements with Rock Tech
and expectations regarding its future activities, its role in and
impact on Rock Tech's strategy and its benefits to the Company,
Transamine and spodumene concentrate producers; the Company's
expectations regarding its planned and prospective activities and
projects, including RTT and the Company's proposed lithium
converters, the Company's intentions with respect to the
development and timing thereof and statements regarding
future plans, actions, and schedules relating to such activities,
projects and related development; statements and expectations
regarding the electric vehicle industry; Rock Tech's opinions,
beliefs and expectations regarding the Company's business strategy,
development and exploration opportunities and projects; and plans
and objectives of management for the Company's operations and
properties.
Forward-looking information is based on certain assumptions,
estimates, expectations and opinions of the Company and in certain
cases, third party experts, that are believed by management of Rock
Tech to be reasonable at the time they were made. This
forward-looking information was derived utilizing numerous
assumptions regarding, among other things: the formation and
operation of RTT in a manner consistent with management's
expectations; the supply and demand for, deliveries of, and the
level and volatility of prices of, feedstock and intermediate and
final lithium products; that all required regulatory approvals and
permits can be obtained on the necessary terms in a timely manner;
expected growth, performance and business operations; future
commodity prices and exchange rates; prospects, growth
opportunities and financing available to RTT and the Company;
general business and economic conditions; the costs and results of
exploration, development and operating activities; RTT's ability to
procure supplies of spodumene concentrate and other equipment
necessary for its business; and the accuracy and reliability of
technical data, forecasts, estimates and studies. The foregoing
list is not exhaustive of all assumptions which may have been used
in developing the forward-looking information. While Rock Tech
considers these assumptions, estimates and factors to be reasonable
based on information currently available, they may prove to be
incorrect. Forward-looking information should not be read as a
guarantee of future performance or results.
In addition, forward-looking information involves known and
unknown risks and uncertainties and other factors, many of which
are beyond Rock Tech's control, that may cause actual events,
results, performance and/or achievements to be materially different
from that which is expressed or implied by such forward-looking
information. Risks and uncertainties that may cause actual
events, results, performance and/or achievements to vary materially
include: the failure to form RTT on the anticipated timing or at
all or, if formed, to realize the anticipated benefits of the joint
venture; RTT and the Company's ability to access funding required
to invest in available opportunities and projects (including, in
the case of the Company, the Company's proposed lithium
hydroxide converters) and on satisfactory terms; the current and
potential adverse impacts of the COVID-19 pandemic and
ongoing geopolitical hostilities; the risk that Rock Tech will
not be able to meet its financial obligations as they fall due;
changes in commodity and other prices; Rock Tech's ability to
attract and retain skilled staff and to secure feedstock from RTT
and third party suppliers; unanticipated events and other
difficulties related to the construction, development and operation
of the Company's proposed lithium hydroxide converters and/or the
operations and activities of RTT; the cost of compliance with
current and future environmental and other laws and regulations;
title defects; competition from existing and new competitors;
changes in currency and/or exchange rates
and the market prices of Rock Tech's securities; Rock
Tech's history of losses; adverse impacts of climate change; and
other risks and uncertainties described from time to time in Rock
Tech's public disclosure documents available on the Company's SEDAR
profile at www.sedar.com, including those discussed under the
heading "Risk Factors" in Rock Tech's most recently filed
Management Discussion and Analysis and Annual Information Form,
respectively. Such risks and uncertainties do not represent an
exhaustive list of all risk factors that could cause actual events,
results, performance and/or achievements to vary materially from
the forward-looking information.
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SOURCE Rock Tech Lithium Inc.