VANCOUVER, BC, July 13,
2022 /CNW/ - Rock Tech Lithium Inc. (the "Company" or
"Rock Tech") is pleased to announce that the Company has signed a
framework agreement (the "Framework Agreement") with a renowned
globally operating car producer having its headquarters in
Germany establishing the basis for
arrangements between the parties for the supply of lithium
hydroxide, a key material in the production of lithium-ion electric
vehicle batteries. The agreement forms the basis between the
automaker and Rock Tech Lithium for future supplies of lithium
hydroxide and has a five-year term with renewal options.
Additionally, the Framework Agreement supports the parties'
respective commitments to environmental responsibility and
sustainability, including an agreement to create a roadmap to
achieve CO2-neutral production of lithium hydroxide by the end of
2030 and requiring that any product supplied to the costumer be
sourced from mining sites audited by the Initiative for Responsible
Mining Assurances (IRMA).
Markus Bruegmann, CEO of Rock
Tech Lithium, comments: "We are very pleased to have found a
renowned partner to advance the topic of e-mobility. We expect to
commence production of lithium hydroxide in Guben, Brandenburg,
where we are building Europe's
first lithium hydroxide converter. The start of production is
planned for 2024."
On behalf of the Board of Directors,
Dirk Harbecke, Chairman
ABOUT ROCK TECH LITHIUM
INC.
Rock Tech (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN:
A1XF0V) is a cleantech company on a mission to produce
lithium chemicals for EV batteries. The company aims to serve
automotive customers with high-quality lithium hydroxide made in
Germany. Rock Tech plans to build
high-tech lithium converters at the door-step of its customers, to
guarantee supply-chain transparency and just-in-time delivery. To
close the most pressing gap in the clean mobility story, Rock Tech
has gathered one of the strongest teams in the industry. It holds
itself accountable to strict ESG standards and is developing a
proprietary refining process to further increase efficiency and
sustainability. Rock Tech plans to source raw material from its own
mineral project in Canada as well
as procuring it from responsibly producing mines. In the years to
come, the company will extract its material from discarded
batteries. Rock Tech's goal: to become the first closed-loop
lithium company in the world.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY NOTE CONCERNING
FORWARD-LOOKING INFORMATION
The following cautionary statements are in addition to all other
cautionary statements and disclaimers contained elsewhere in, or
referenced by, this press release.
Certain information set forth in this press release contains
"forward-looking information" and "forward-looking statements"
(collectively, "forward-looking information") within the meaning of
applicable securities laws, which are based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience
and is perception of historical trends. All statements other than
statements of historical facts may constitute forward-looking
information. Often, forward-looking information can be identified
by the use of words or phrases such as "estimate", "project",
"anticipate", "expect", "intend", "believe", "hope", "may" and
similar expressions, as well as "will", "shall" and all other
indications of future tense. All forward-looking information set
forth in this press release is expressly qualified in its entirety
by the cautionary statements referred to in this section.
In particular, this new release contains forward-looking
information pertaining to: future activities undertaken in
connection with the Framework Agreement, including statements
regarding plans, future arrangements between the parties and
activities taken in support of their respective commitments to
environmental responsibilities and sustainability; statements
regarding the Company's proposed lithium hydroxide converter,
including the location, features and timing thereof; statements
regarding future plans, estimates, and schedules relating to the
Company's strategy; anticipated production of lithium hydroxide and
the expected timing thereof; statements and expectations regarding
the electric vehicle industry; Rock Tech's planning, approval and
decision-making process, including relevant factors taken into
consideration by the Company; 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 contained in this press release is
based on certain assumptions, estimates, expectations, analysis 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. Such assumptions, estimates and other
factors include, among other things: the ability of Rock Tech and
the customer to agree on additional terms and conditions in
order to give effect to the Framework Agreement and future projects
governed thereby; the supply and demand for, deliveries of, and the
level and volatility of prices of, feedstock and intermediate and
final lithium products; 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; results of development
and exploration; and Rock Tech's ability to procure supplies and
other equipment necessary for its business. 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, estimates and factors to be reasonable
based on information currently available, they may prove to be
incorrect. 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 Company's ability to access funding
required to invest in available opportunities and projects (the
Company's proposed lithium hydroxide converter) and on satisfactory
terms, the current and potential adverse impacts of the COVID-19
pandemic and recent geopolitical hostilities, the anticipated
benefits of Framework Agreement may not be realized; the risk that
Rock Tech will not be able to meet its financial obligations as
they fall due, changes in commodity and other prices, Rock Tech's
ability to attract and retain skilled staff and to secure feedstock
from third party suppliers, unanticipated events and other
difficulties related to construction, development and operation of
the Company's proposed lithium hydroxide converter, the cost of
compliance with current and future environmental and other laws and
regulations, title defects, competition from existing and new
competitors, changes in currency, exchange rates and market prices
of Rock Tech's securities, Rock Tech's history of losses, impacts
of climate change and other risks and uncertainties described from
time to time in Rock Tech's public disclosure documents available
on the Company's SEDAR profile at www.sedar.com, including those
discussed under the heading "Risk Factors" in Rock Tech's most
recently filed Management Discussion and Analysis. Such risks and
uncertainties do not represent an exhaustive list of all risk
factors that could cause actual events, results, performance and/or
achievements to vary materially from the forward-looking
information.
We cannot assure you that actual events, results, performance
and/or achievements will be consistent with the forward-looking
information and management's assumptions may prove to be incorrect.
Forward-looking information reflects Rock Tech management's views
as at the date the information is created. Except as may be
required by law, Rock Tech undertakes no obligation and expressly
disclaims any responsibility, obligation or undertaking to update
or to revise any forward-looking information, whether as a result
of new information, future events or otherwise, to reflect any
change in Rock Tech's expectations or any change in events,
conditions or circumstances on which any such information is
based.
Given these uncertainties, readers are cautioned not to rely on
the forward-looking information set forth in this press
release.
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SOURCE Rock Tech Lithium Inc.