- Rock Tech Lithium has revised the terms of its marketed offering
- The company now intends to raise gross proceeds of approximately US$30 million
- Units will be offered at C$3.50 and consist of one common share and one-half of one common share purchase warrant
- Proceeds will be used for its proposed high-grade lithium hydroxide converter and refinery facility in Germany, the Georgia Lake project and for general corporate purposes
- Rock Tech is a mining company producing lithium for electric vehicle batteries
- Rock Tech Lithium Inc. (RCK) is down 10 per cent on the day, trading at C$3.60 per share at 10:45 am ET
Rock Tech Lithium has revised the terms of its previously announced marketed offering.
The company now intends to raise gross proceeds of approximately US$30 million. Units will be offered at C$3.50 and consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share for a period of 36 months at an exercise price of C$4.50.
A syndicate of underwriters will lead the offering, and Rock Tech will grant an over-allotment option exercisable at any time until 30 days after the offering has closed.
Rock Tech will use the net proceeds to finance the development of its proposed high-grade lithium hydroxide converter and refinery facility in Guben, Germany, to fund the continued exploration and development of the Georgia Lake lithium project in Ontario, and for general corporate purposes.
Rock Tech is a mining company working to produce lithium chemicals for electric vehicle batteries. The company aims to serve automotive customers with high-quality lithium hydroxide. It also plans to build high-tech lithium converters at the doorstep of the European and North American automotive industries.
Rock Tech Lithium Inc. (RCK) is down 10 per cent on the day, trading at C$3.60 per share at 10:45 am ET.