Rock Tech Lithium Inc. - Announces Private Placement
Vancouver, May 16, 2016 - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt: RJIB) announces that it will conduct a non-brokered private placement of up to 2,000,000 units at a price of $0.30 per unit for gross proceeds of up to $600,000 (the "Offering"). Each unit will consist of one common share of the Company and one half of one share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share at a price of $0.50 per share for a period of 24 months from the date of closing, subject to accelerated expiry in certain circumstances.
The proceeds of the private placement will be used for further development of the Company's Georgia Lake lithium property, the evaluation of additional opportunities and for general working capital purposes.
The closing of the private placement is subject to regulatory approval including that of the TSX Venture Exchange. All securities issued will be subject to a four month hold period.
On behalf of the Board of Directors,
"Martin Stephan"
Martin Stephan
Director, Chief Executive Officer
For further information, please contact:
Brad Barnett
Chief Financial Officer
Rock Tech Lithium Inc.
1021 West Hastings Street, Suite 900
Vancouver, B.C., V6E 0C3
Telephone: (604) 558-5123
Facsimile: (604) 670-0033
Email: bbarnett@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, "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.