VANCOUVER, BC, Oct. 11,
2022 /CNW/ - Rock Tech Lithium Inc (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or
the "Company") is pleased to announce that the European Investment
Bank (EIB) has recently published its intention to review a
potential investment of up to €150 million senior debt to back the
Company's Guben lithium converter project in Brandenburg,
Germany. The European Investment
Bank financing looks to support the creation of capacities to
produce lithium hydroxide as one of the key components of electric
vehicle batteries, hence enabling the EU's green
transition.
"The EIB's interest in the project is a very positive signal to
the market that Rock Tech is progressing on target with its project
development plans in Guben", commented Dirk
Harbecke, Chairman of the Board, "we look forward to
building on EIB's support as we bring together a consortium of
lenders in this important project".
The construction of the Rock Tech lithium converter plant in
Germany will be the first of its
kind in Europe. From spodumene, a
lithium bearing ore, to battery-grade lithium hydroxide, the whole
refinery process will take place in the Guben converter. Thus, on
the one hand, the project meets the growing demand for battery raw
materials triggered by increasing electric vehicle mobility, while
at the same time allowing the supply chain to become more diverse
and resilient in the western hemisphere. The lithium hydroxide from
Rock Tech's converter, is expected to be component of up to 500,000
electric vehicle batteries per year - powering the zero-emissions
transformation of the transportation sector.
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
ABOUT ROCK TECH INC.
Rock Tech is a cleantech company on a mission to produce lithium
hydroxide for EV batteries. The Company plans to build converters
at the door-step of its customers, to guarantee supply-chain
transparency and just-in-time delivery. Therefore, Rock Tech has
gathered one of the strongest teams in the industry. It holds
itself accountable to strict ESG standards and 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.
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 constitutes
"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, forward-looking information in this new release
includes, but is not limited to: statements regarding Rock Tech's
vision, strategy and objectives; Rock Tech's proposed converter
project in Guben and the Company's intentions with respect to the
development and timing thereof, including the sources and mix of
funding in respect of the development of the proposed converter,
development targets and milestones and the Company's expectations
regarding the project, including the expected costs, production
capacity and outcomes thereof; statements regarding the EIB's
review of a potential investment in the proposed converter,
including amounts invested (if any) and the timing thereof;
statements regarding Rock Tech's future plans and expectations,
including the anticipated production of lithium hydroxide;
statements and expectations regarding the electric vehicle
industry; 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. 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
(including 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 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; adverse 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 and Annual Information Form, respectively. 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.