VANCOUVER, BC, Oct. 21,
2022 /CNW/ - Rock Tech Lithium Inc. (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock
Tech" or the "Company") announces that it has granted an
aggregate of 300,000 stock options to certain directors of the
Company.
The Company has granted an aggregate of 300,000 stock options to
certain directors of the Company. The stock options were granted
effective October 17, 2022 and have a
term of five years from the date of grant, with 30% vesting
immediately and 70% vesting in equal monthly installments over a 24
month period following the date of grant. The stock options may be
exercised at a price of $2.77 per
share, being the closing price of the Company's common shares on
the TSX Venture Exchange on October 14,
2022.
The stock options were granted pursuant to the stock option plan
of the Company dated April 9, 2020,
as most recently approved by the shareholders of the Company on
June 30, 2022.
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 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. The Company
has adopted strict ESG standards and is developing a proprietary
refining process aimed at further increasing efficiency and
sustainability. Rock Tech plans to source raw material from its own
mineral project in Canada as well
as procuring it from other responsibly producing mines. In the
years to come, the Company expects to also source raw material from
discarded batteries. Rock Tech's goal: to create a closed-loop
lithium production system. www.rocktechlithium.com.
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" within the meaning of applicable Canadian securities
laws, which information is based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience
and its 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 press release
includes, but is not limited to: the Company's proposed
lithium converters, including the Company's intentions with respect
to the development and timing thereof; statements regarding Rock
Tech's future plans and expectations, including the anticipated
production of lithium hydroxide and its sustainability objectives;
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: that the Company's converter
projects will be developed on-time and on budget in accordance with
current expectations; 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; the costs and
results of development and exploration activities; and Rock Tech's
ability to procure spodumene concentrate, 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 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 and on satisfactory terms;
the current and potential adverse impacts of the COVID-19 pandemic
and ongoing 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 the construction, development and operation of the
Company's proposed lithium hydroxide converters; 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 and/or exchange rates and the
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.
No assurance is provided 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.