VANCOUVER, Dec. 6, 2017 /CNW/ - Rock Tech Lithium
Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt:
RJIB) announces that it has received proceeds of $1.7 million related to the exercise of warrants.
The warrants were exercisable at $0.20, $0.50 and
$1.45. As of the date of this news
release, the Company now has 33,037,119 common shares issued and
outstanding.
Additionally, the Company's chairman, Mr. Dirk Harbecke, has increased his shareholdings
via the exercise of 1,200,000 warrants. The warrants, in parts
acquired via a private transaction, had an exercise price of
$0.20 and were set to expire on
December 31, 2017. After
consideration of these transactions, Mr. Harbecke now holds 10.2%
of the Company on a non-diluted basis.
The issuance of common shares in respect of the exercise of
warrants has resulted in BTI International's shareholdings falling
below the 10% Early Warning Report threshold.
About Rock Tech Lithium:
Rock Tech Lithium is an exploration company focused on acquiring
and exploring properties in the field of lithium and other selected
battery metals.
Rock Tech is the only exploration company in the Georgia Lake
region with an NI 43-101 resource estimate. The resource estimate
shows an indicated resource estimate of 3.19 million tonnes grading
1.10% lithium oxide in addition to an inferred resource estimate of
6.31 million tonnes grading 1.00% lithium oxide. Further, the
Company has completed metallurgical testing on a bulk sample
demonstrating the ability to produce both a high-grade spodumene
concentrate and battery-grade lithium carbonate ("Li2CO3"). The
spodumene-bearing pegmatites of the Georgia Lake area were
originally discovered in 1955.
On behalf of the Board of Directors of the Company,
"Martin Stephan"
Martin Stephan
Director, Chief Executive Officer
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.
SOURCE Rock Tech Lithium Inc.