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,
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.
For further information: 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: [email protected]