Each Unit will consist of one common share in the capital of Rock Tech (the "Common Shares", with such Common Shares comprising the Units, the "Unit Shares") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant", and together with the Units and the Unit Shares, the "Securities"). Each Warrant will entitle the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of
Rock Tech intends to use the proceeds of the Offering as follows:
- approximately
$5 million to finance the continued exploration and development of the Company'sGeorgia Lake lithium project inOntario, Canada (the "Georgia Lake Project "), including funding exploration drilling programs and planned consolidation of adjacent properties / areas; and - the balance for general corporate purposes and the development of the Company's converter project in
Canada and to pay expenses incurred by the Company in connection with the Offering.
Closing of the Offering is expected to occur on or about
The Unit Shares and the Warrants will be subject to four month hold periods in accordance with applicable Canadian securities laws and the rules of the TSX-V, as will any Warrant Shares issued on exercise of Warrants prior to the expiry of such hold periods.
The Securities offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
All dollar amounts in this news release are expressed in Canadian dollars.
On behalf of the Board of Directors,
Chairman & CEO
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in
Neither the
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking information. Forward looking information can generally be identified by the use of forward-looking terminology such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" (including negative versions and grammatical variations thereof) and other similar expressions.
In particular, this news release contains forward-looking information pertaining to: the anticipated size and terms of the Offering; the intended use of proceeds from the Offering and allocation thereof; the ability of the Company to satisfy the conditions to closing the Offering, including obtaining the approval of the TSX-V; listing of the Unit Shares and the Warrant Shares on the TSX-V; the anticipated timing of the closing of the Offering; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties.
Forward-looking information is based on certain assumptions, estimates, expectations and opinions of the Company and, in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Forward-looking information is derived utilizing numerous assumptions regarding, among other things: the satisfaction of the conditions to closing of the Offering in a timely manner, including receipt of TSX-V approval; the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; expected growth, performance and business operations; future commodity prices and exchange rates; prospects, growth opportunities and financing available to the Company; general business and economic conditions; the costs and results of exploration, development and operating activities; Rock Tech's ability to procure supplies and other equipment necessary for its business; and the accuracy and reliability of technical data, forecasts, estimates and studies. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect and should not be read as a guarantee of future performance or results.
Forward-looking information should not be read as a guarantee of future performance or results. In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the risk that Rock Tech will not be able to meet its financial obligations as they fall due, delays in government approval for the construction and commissioning of the
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