Rock Tech Lithium Announces Upsize of Previously Announced Private Placement to Up to C$6.0 Million

Rock Tech Lithium Inc. (RCK) has increased the size of its previously announced non-brokered private placement to a maximum of C$6.0 million. The company recently closed the second tranche of the offering, issuing 5,402,493 units at C$0.65 per unit, which generated gross proceeds of C$3.51 million. Total proceeds to date now stand at approximately C$5.31 million from 8,171,793 units issued.

A strategic investor contributed C$3.25 million to the offering, securing a project-level equity participation in the Guben lithium hydroxide converter in Germany. The net proceeds from the financing will fund the Definitive Feasibility Study (DFS) for the Georgia Lake Mine, the development of the Red Rock Converter in Ontario, and general corporate and working capital needs.

In leadership changes, the company appointed Derek Sobel as Chief Financial Officer, succeeding Christopher Wright. The warrants issued with the units include one-half warrant per unit exercisable at $0.90 for 36 months, along with finders' warrants at C$0.65 for 24 months.

Rock Tech Lithium Inc. (RCK) issued a follow-up to its August 21, 2026 announcement regarding the first tranche of a C$5.2 million placement. The company expects the upsize and closing of the second tranche to serve as necessary corporate actions to secure working capital ahead of financing milestones for the Georgia Lake Definitive Feasibility Study (DFS) and the Guben converter.

While a strategic investor’s commitment to the Guben project provides validation, it represents only a small fraction of the estimated €680 million capital expenditure required for the converter. The financing includes the issuance of approximately 8.17 million units at a price of $0.65, a decline from the $1.00 price point in February 2026, reflecting current market conditions. This financing extends the company’s cash runway but does not materially alter long-term capital requirements or project timelines.

Rock Tech Lithium Inc. (RCK) operates a vertically integrated lithium supply chain strategy across three primary assets. The Georgia Lake Mine in Ontario is a spodumene concentrate project with a binding offtake agreement with Transamine SA for up to 100,000 dry metric tonnes per year starting in 2028. The Red Rock Converter in Ontario aims to process spodumene into battery-grade lithium chemicals, supported by a CAD$200 million anchor partnership with BMI Group. The Guben Converter in Germany is a fully permitted, shovel-ready facility designed to produce 24,000 tonnes of lithium hydroxide annually, recognized as a strategic project under the EU Critical Raw Materials Act. The company's strategy focuses on leveraging German processing technology in North America to capture higher value-added margins.