- Rock Tech Lithium Inc. (RCK) has announced an underwritten marketed offering of its units for roughly US$50 million
- Underwriters will lead the offering with their own over-allotment option
- It will use the proceeds 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 9.92 per cent and is trading at $4.45 per share as of 2:39 p.m. ET
Rock Tech Lithium (RCK) has announced an underwritten marketed offering of units for gross proceeds of roughly US$50 million.
Each unit will include one common share and half of a common share purchase warrant. Each warrant allows a holder to acquire one common share for an 18-month period after the warrant has been issued.
A syndicate of underwriters will help 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 9.92 per cent and is trading at $4.45 per share as of 2:39 p.m. ET.