Rock Tech to Hold Annual General and Special Meeting on July 3, 2013
June 06 2013 - 9:47PM
Access Wire
Vancouver, British Columbia, Canada, June 6, 2013 - Rock Tech
Lithium Inc. (TSX-V: RCK; Frankfurt: RJIA) (the "Company" or "Rock
Tech") announces that the Company will hold its 2013 Annual General
and Special Meeting in Vancouver on July 3, 2013. The record date
for the meeting is June 3, 2013.
The Company's Board of Directors believes that it is in the
interest of Shareholders of the Company for the Board of Directors
to have the authority to implement a Share Consolidation. The Board
believes that the current issued capital structure is too large for
the growth strategy of the Company and is adversely impacting the
marketability of its Common Shares and the ability of the Company
to complete financings. The Board believes that a Share
Consolidation will increase the Company's flexibility and
competitiveness in the market place and make the Company's
securities more attractive to a wider audience of potential
investors, thereby resulting in a more efficient market for the
Common Shares.
The Board proposes to reduce the number of Common Shares on the
basis of one (1) post-consolidation Share for every ten (10)
pre-consolidated Common Shares, or such lesser consolidation ratio
(but not less than five (5) pre-consolidated shares) as may be
approved by the Board of Directors and accepted by the Exchange
(the "Consolidation Ratio").
No fractional Common Shares of the Company will be issued if, as
a result of the Share Consolidation, a registered Shareholder would
otherwise be entitled to a fractional share. Instead, any
fractional Common Shares resulting from the Share Consolidation
will be rounded down to the nearest whole share if the fraction is
less than one-half of a share and will be rounded up to the nearest
whole share if the fraction is at least one-half of a share.
As of the date of this news release, the Company has 99,845,108
Common Shares issued and outstanding. After the Share
Consolidation, the Company will have between 9,984,511 and
19,969,022 Common Shares issued and outstanding, depending on the
final Consolidation Ratio approved by the Board of Directors and
accepted by the Exchange.
In general, the Share Consolidation will not be considered to
result in a disposition of Common Shares by Shareholders. The Share
Consolidation is subject to shareholder approval and to Exchange
acceptance.
The Company is not planning a name change in conjunction with
the Share Consolidation.
On behalf of the Board of Directors,
"Afzaal Pirzada"
Afzaal Pirzada, P.Geo.
Director, Vice President of Exploration and interim CEO
For more information, please contact:
Brad Barnett
Vice President of Corporate Finance and Development
Rock Tech Lithium Inc.
789 West Pender Street, Suite 1205
Vancouver, B.C., V6C 1H2
Telephone: (604) 688-1140
Facsimile: (604) 688-1173
Email: bbarnett@rocktechlithium.com
Disclaimer and Cautionary Statement Regarding Forward-Looking
Information
Neither the 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 press release. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy
securities in any jurisdiction.
All statements, trend analysis and other information contained
in this press release relative to markets about anticipated future
events or results constitute forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect" and "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. Forward-looking statements
are subject to business and economic risks and uncertainties and
other factors that could cause actual results of operations to
differ materially from those contained in the forward-looking
statements. Forward-looking statements are based on estimates and
opinions of management at the date the statements are made. The
Company does not undertake any obligation to update forward-looking
statements even if circumstances or management's estimates or
opinions should change. Investors should not place undue reliance
on forward-looking statements.
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