- Arcore AG and Rock Tech have concluded a strategic
partnership to regionally source and supply Rock Tech's converter
operations in Europe.
- European lithium shall be sustainably sourced
from Arcore's wholly-owned Lopare mining project in
Bosnia and Herzegovina.
TORONTO and ZUG, Switzerland, Nov. 13,
2023 /CNW/ - Rock Tech Lithium Inc.
(TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the
"Company" or "Rock Tech") and Arcore are pleased to announce a
strategic partnership to secure a reliable and long-term supply of
lithium products for Rock Tech's European converter operations. The
parties intend to regionally source sustainable European lithium
from Arcore's wholly-owned Lopare mining project in Bosnia and Herzegovina to feed Rock Tech's
conversion facility.
Rock Tech and Arcore, a privately-owned Swiss-based lithium
mining company, have agreed to explore a strategic partnership with
the aim to secure long-term supply of lithium chemicals to Rock
Tech's European converter. This partnership is intended to enable
Rock Tech to access Arcores considerable lithium resources at its
Lopare Project in Bosnia and
Herzegovina.
This forthcoming collaboration is an unambiguous proof of the
development of a regional and domestic value chain for EV batteries
within Europe, to which both
companies are contributing through lithium supply and conversion.
As next steps the Parties intend to define product specifications,
negotiate an offtake agreement including quantities and prices. The
Parties are committed to working towards a zero-waste and net-zero
emission production of lithium.
"Arcore's project is an important element of our regional supply
strategy. Linking with Arcore also demonstrates how important our
converter in Europe is for making
lithium consumable for European cathode and battery manufacturers.
I'm looking forward to taking and implementing the next steps,
which will undoubtedly meet the industry's needs," said Rock Tech's
CEO Dirk Harbecke.
Ali Vezvaei, Chairman of the Supervisory Board of Arcore, said,
"Arcore is delighted to partner with Rock Tech, and we look forward
to a successful and synergetic relationship, not only commercially
for the parties, but also strategically for the European continent
as a whole. Our supply of lithium will contribute to Rock Tech's
cutting-edge converter operations."
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium
hydroxide for electric vehicle 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,
beginning with the Company's proposed lithium hydroxide merchant
converter and refinery facility in Guben, Germany. 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
environmental, social and governance standards and is developing a
proprietary refining process aimed at further increasing efficiency
and sustainability. Rock Tech plans to source raw material from its
wholly-owned Georgia Lake spodumene project located in the Thunder
Bay Mining District of Ontario,
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
ABOUT ARCORE
Arcore is a privately-owned Switzerland-based lithium mining company with
extensive lithium resources and a commitment to environmental and
safety standards while seeking to accelerate Europe's energy transition reliably.
https://arcore.ch/
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
Certain statements contained in this news release constitute
"forward-looking information" under applicable securities laws and
are referred to herein as "forward-looking statements". All
statements, other than statements of historical fact, which address
events, results, outcomes or developments that the Company expects
to occur are forward-looking statements. When used in this news
release, words such as "expects", "anticipates", "plans",
"predicts", "believes", "estimates", "intends", "targets",
"projects", "forecasts", "may", "will", "should", "would", "could"
or negative versions thereof and other similar expressions are
intended to identify forward-looking statements. In particular,
this press release contains forward-looking information pertaining
to the outcome of amount, quality of products from Arcore's future
mining operations, regulatory decisions and outcomes; schedules and
completion dates; access to capital markets and other sources of
financing; the supply and demand for, deliveries of, and the level
and volatility of prices of, intermediate and final lithium
products; future exchange and interest rates; general business and
economic conditions; the costs and results of development,
exploration and operating activities; Rock Tech's ability to
procure supplies and other equipment necessary for its business;
and the accuracy and reliability of technical data, forecasts,
estimates and studies;; Rock Tech's opinions, beliefs and
expectations regarding the outcome of the above mentioned
agreement, the Company's own business strategy, development and
exploration opportunities and projects, and plans and objectives of
management for the Company's operations and properties; the pending
development of Arcore's development, their accuracy and reliability
of technical data, forecasts, estimates and studies.
Forward-looking statements by their nature are based on
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause the actual results to differ
materially from the forward-looking statements. There may also be
other factors that cause actual results to differ materially from
the forward-looking statements, including the risks, uncertainties
and other factors discussed in the Company's most recent
management's discussion and analysis and annual information form
filed with the applicable securities regulators, or known and
unknown risks and uncertainties that may the Company's ability to
access additional funding required to invest in available
opportunities and projects.
No assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, and the
Company cautions the reader not to place undue reliance upon any
such forward-looking statements. The Company does not intend, nor
does it assume any obligation to update or revise any of the
forward-looking statements, whether as a result of new information,
changes in assumptions, future events or otherwise, except to the
extent required by applicable law.
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SOURCE Rock Tech Lithium Inc.