Rock Tech Lithium Closes Private Placement
Vancouver, July 5, 2016 - Rock Tech Lithium Inc. (the "Company") (TSX-V: RCK | Frankfurt: RJIB), further to its news release on June 27, 2016, is pleased to announce the closing of its non-brokered private placement (the "Offering") consisting of 3,940,000 units (the "Units") of the Company at a price of $0.30 per Unit for gross proceeds of $1,182,000. 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 $0.50 per share until July 5, 2018, subject to accelerated expiry in the event that the Company's shares trade at $0.75 per share or more for a period of twenty (20) consecutive trading days after expiry of the 4-month hold period on November 6, 2016. All securities issued in connection with the Offering are subject to a statutory hold period expiring on November 6, 2016.
The proceeds of the private placement will primarily be used for further exploration and development of the Company's 100%-owned Georgia Lake lithium property, located near Thunder Bay, Ontario.
No finders' fees were paid in connection with the Offering.
On behalf of the Board of Directors of the Company,
"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.
900-1021 West Hastings St | Vancouver | British Columbia | Canada | V6E 0C3
P. +1.604.558.5123 | F. +1.604.670.0033
www.rocktechlithium.com | bbarnett@rocktechlithium.com
TSX-Venture: RCK