Rock Tech Closes Private Placement at $0.90 per Unit
(firmenpresse) -
Rock Tech Closes Private Placement at $0.90 per Unit
Vancouver, BC, Canada - December 22, 2016 - Rock Tech Lithium Inc. (the "Company") (TSX-V: RCK | Frankfurt: RJIB), further to its news release on October 27, 2016, is pleased to announce the closing of its non-brokered private placement (the Offering) consisting of 3,011,112 units (the Units) of the Company at a price of $0.90 per Unit for gross proceeds of $2,710,000. Each Unit consists of one common share of the Company and one-half of one share purchase warrant. Each full warrant entitles the holder to purchase an additional common share of the Company at a price of $1.45 per share until December 19, 2018, subject to accelerated expiry in the event that the Companys shares trade at $2.00 per share or more for a period of twenty (20) consecutive trading days after expiry of the 4-month hold period on April 20, 2017.
All securities issued in connection with the Offering are subject to a statutory hold period expiring on April 20, 2017.
We are very happy and proud that our investors are showing such a strong trust in the future of Rock Tech Lithium and managements ability to create shareholder value. As announced, the rationale for the private placement was to boost strategic cash reserves to ensure the Company is well-positioned to capitalize on battery metal opportunities, several of which are currently under advanced review. We are very happy that we achieved this aim, said Martin Stephan, Rock Techs Chief Executive Officer.
"Our shareholders share our view that the lithium market is characterized, for at least the next eight years, by tight supply due to much higher demand than anticipated. It is, therefore, an exciting time to be developing Rock Tech Lithium. The development of the Company will strictly adhere to pure shareholder value creation. Our management team which, collectively with cornerstone investors hold approximately 80% of the outstanding shares, has only one objective: increasing Rock Techs share price. Every strategic decision by management will reflect this aim on our way to develop Rock Tech Lithium into one of the worlds most advanced hard rock lithium exploration companies," Mr. Stephan concluded.
No finders fees were paid in connection with the Offering.
On behalf of the Board of Directors of the Company,
"MARTIN STEPHAN"Martin StephanDirector, Chief Executive Officer
For further information, please contact:
Brad BarnettChief Financial OfficerRock Tech Lithium Inc. 1021 West Hastings Street, Suite 900Vancouver, B.C., V6E 0C3Telephone: (604) 558-5123Facsimile: (604) 670-0033Email: bbarnett(at)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, "forwardlooking statements". Forwardlooking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forwardlooking 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 forwardlooking statements.
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Datum: 23.12.2016 - 12:05 Uhr
Sprache: Deutsch
News-ID 514686
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