Rock Tech Lithium closes $6.5-million private placement

Executive Summary

• Rock Tech Lithium Inc. closed the third and final tranche of its non‑brokered private placement, bringing total gross proceeds to $6.51 million.
• The company sold 1,138,400 units at $0.90 per unit, generating $1.02 million in this tranche; overall issuance totals 7,231,621 units.
• Net proceeds will be used to advance the Guben lithium converter project and for general corporate and working‑capital purposes.

Key Details

• Units sold (third tranche): 1,138,400 units @ $0.90 each = $1,024,560 gross proceeds.
• Total units issued across all tranches: 7,231,621 units for $6,508,459 gross proceeds.
• Unit composition: 1 common share + 1 common share purchase warrant (exercise price $1.17, three‑year term).
• Use of proceeds: Finance advancement of the Guben converter; general corporate and working‑capital needs.
• Regulatory compliance: Closed under Ontario Securities Commission Rule 72‑503 (Distributions Outside Canada) and the Listed Issuer Financing Exemption (LIFE) of NI 45‑106; no hold period required.
• Commission paid: Cash commission of $57,964.50 to finders.
• Closing condition: Subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)