Rock Tech Lithium Announces Closing of Second and Final Tranche of Private Placement

About this update from Rock Tech Lithium Inc.

Rock Tech Lithium Announces Closing of Second and Final Tranche of Private Placement /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntac{ TEXT-ALIGN: CENTER } Canada NewsWire /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / VANCOUVER, BC , Jan. 5, 2022 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the " Company " or " Rock Tech ") is pleased to announce the closing of the second and final tranche of its previously announced brokered offering (the " Offering ") of units of Rock Tech (" Units ") on a private placement basis to certain U.S. and international investors. In connection with closing of the second tranche of the Offering, the Company issued an aggregate of 331,429 Units for aggregate gross proceeds of approximately U.S. $1.4 million (or approximately C$1.8 million ) 1 . Combined with the first tranche of the Offering, which closed on December 30, 2021 , the Company issued an aggregate of 9,761,905 Units pursuant to the Offering at a price of U.S. $4.20 per Unit, for aggregate gross proceeds of approximately U.S. $41.0 million . Each Unit consists of one common share in the capital of Rock Tech (the " Common Shares " and such Common Shares issued and sold, the " Unit Shares ") and one common share purchase warrant of Rock Tech (a " Warrant ", and together with the Units and the Unit Shares, the " Securities "). Each Warrant entitles the holder thereof to purchase one Common Share (a " Warrant Share ") at an exercise price of C$6.77 per Warrant Share for a period of 30 months following the date of issuance of such Warrant, subject to and in accordance with the terms and conditions of the certificate evidencing such Warrant, including acceleration and adjustment in certain circumstances. Offering Details Rock Tech intends to use the net proceeds of the Offering to finance the construction of the Company's proposed high grade lithium hydroxide converter and refinery facility in Guben, Germany (the " Converter Project "), to fund the continued exploration and development of the Company's Georgia Lake lithium project in Ontario, Canada (the " Georgi...

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