Rock Tech Lithium Inc. Closes Successful Private Placement

The Offering, which significantly exceeded the Company’s originally planned offering of $5,000,000, was increased on November 30, based on much higher-than-expected demand.

"We have received very positive feedback and high demand for our private placement from renowned institutional investors, confirming that we are very much on the right track,” said Dirk Harbecke, Chairman of Rock Tech, who invested significantly himself. “The collected funds will help us to further accelerate our project development – a huge opportunity in an environment where other projects, also of the global players, still remain on hold due to the corona crisis uncertainties.

The Offering round was led by Apeiron Investment Group, the family office of serial entrepreneur and investor Christian Angermayer, who subscribed for over 30% of the Offering and will, after closing, own 19.6% of the Company on a partially-diluted basis. Mr. Harbecke subscribed for over 11% of the Offering, bringing his partially-diluted ownership position, after closing, to 17.7%.

Christian Angermayer sees a huge opportunity and the perfect timing for his continued investment into Rock Tech Lithium: “The world is focused on the rise of electric cars – driven by innovators such as Tesla and now also Apple. And rightly so. The era of fossil vehicles is over. Many still underestimate the massive change we are seeing, which will sweep away many traditional car makers. But all the new EV players need Lithium batteries. It fascinates me how much many stakeholders still underestimate the lithium shortage we will in my view soon encounter. Rock Tech Lithium has a bold vision not just to become one of the premier producers of the raw material, but also an innovative Chemtech company”.

Proceeds from the private placement will be used to fund a Pre-Feasibility Study (“PFS”) on a lithium hydroxide converter, continuing investigations of the Company’s innovative lithium hydroxide processing circuit, further development and permitting work at the Company’s Georgia Lake lithium project and general working capital.

All securities issued in connection with the Offering are subject to a four-month hold period expiring on April 19, 2021. Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the Company at a price of $1.00 per share until December 17, 2022, subject to accelerated expiry in certain circumstances.

The investment by Apeiron has led them to be deemed an Insider and, as such, is closing in escrow pending clearance of required Personal Information Forms (“PIF”) by the TSX Venture Exchange.

On behalf of the Board of Directors,

"Simon Bodensteiner"
Simon Bodensteiner
Director, Chief Executive Officer

For further information, please contact:

Brad Barnett
Chief Financial Officer
Rock Tech Lithium Inc.
777 Hornby Street, Suite 600
Vancouver, B.C., V6Z 1S4
Telephone: (778) 358-5200
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.