VANCOUVER, BC, June 27,
2022 /CNW/ - Rock Tech Lithium Inc. (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or
"Rock Tech") is pleased to announce that the Company has signed a
non-binding term sheet (the "Term Sheet") with Swiss-based
commodity trading company Transamine SA ("Transamine"), which
provides for cooperation and collaboration between the parties in
sourcing and supplying lithium spodumene concentrate feedstock for
Rock Tech's proposed European lithium hydroxide converters.
Pursuant to the Term Sheet, Rock Tech and Transamine have agreed
to engage in substantive negotiations regarding a potential joint
venture to jointly pursue the development of an integrated
spodumene concentrate supply chain, which would advance the
Company's diversified sourcing strategy for the supply of lithium
products to the European electric vehicle market. The validity of
the Term Sheet is initially limited until 31
August 2022 but may be extended upon mutual agreement by the
parties.
According to Markus Brügmann, CEO of Rock Tech Lithium, "in
order to support automobile customers in the coming years, during
which an upsurge in electric vehicles is expected in Europe, securing the supply chain of lithium
hydroxide for batteries is going to be critical. With their
established expertise, Transamine would represent an ideal partner
for Rock Tech in sourcing the raw material needed for our lithium
hydroxide converters. In times of disruption, a partnership with
Transamine would further help to secure a resilient supply chain
for our operations."
Jean-Pierre Adamian, from
Transamine, commented that: "Transamine is active worldwide for 70
years in non-ferrous ores and concentrates whereas spodumene
required by the Rock Tech Converters' fits perfectly our existing
trading activity. In view of also contributing to the low carbon
footprint industry, we are happy to enter this JV with the first
European compliant converter, which also aims to source recycled
lithium sulphate from battery recycling (hydromet recycling of the
black mass) which would replace part of the primary spodumene
resource. Because the aim is also to obtain around half of the raw
material required from recycling by 2030."
ABOUT TRANSAMINE
Founded in 1953, Transamine Trading SA is an independent and
privately held commodities trading company specialising in
non-ferrous raw materials. Transamine is headquartered in
Geneva, Switzerland, and has
offices throughout key markets including Australia, South
Africa, India, the United States and China. Transamine is a full-service company
providing worldwide raw material sourcing, marketing, finance and
investment and specialises in all aspects of non-ferrous raw
materials production and trade. Transamine maintains the highest
standard of conduct to promote fundamental principles such as
sustainability, environment and social responsibilities.
ABOUT ROCK TECH LITHIUM
INC.
Rock Tech Lithium is a cleantech company with operations in
Canada and Germany that aims to supply the automotive
industry with high quality lithium hydroxide "made in Germany". As early as 2024, the Company
intends to commission Europe's
first lithium converter with a nameplate production capacity of
24,000 tonnes per year. This is equivalent to the volume needed to
equip around 500,000 electric cars with lithium-ion
batteries.
The Company has set itself the goal of creating the world's first
closed loop for lithium, thus closing the raw material gap on the
road to clean mobility. Rock Tech owns the Georgia Lake Project in
Ontario, Canada and, as early as
2030, around 50 percent of the raw materials used are expected to
come from the recycling of batteries
Rock Tech Lithium - The super fuel for the battery
age
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
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 contains
"forward-looking information" and "forward-looking statements"
(collectively, "forward-looking information") within the meaning of
applicable securities laws, which are based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience
and is 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, this new release contains forward-looking
information pertaining to: expectations regarding the relationship
between, and future actions taken by, Rock Tech and Transamine,
including with respect to the cooperation and collaboration between
the parties, the occurrence or outcome of negotiations between the
parties regarding a potential joint venture or the purposes or
benefits thereof; statements regarding Rock Tech's proposed lithium
hydroxide converters, including the features and locations
thereof; statements regarding Rock Tech's future plans and
expectations, including with respect to the Company's feedstock
sourcing strategy and the impact of a joint venture with Transamine
thereon; anticipated production of lithium hydroxide and related
processing methods; statements and expectations regarding the
electric vehicle industry; 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: 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,
results of development and exploration, Rock Tech's ability to
procure 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 Rock Tech's 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
(including the Company's proposed lithium hydroxide converters) and
on satisfactory terms, the current and potential adverse impacts of
the COVID-19 pandemic and recent 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 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, exchange rates
and market prices of Rock Tech's securities, Rock Tech's history of
losses, 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.
We cannot assure you 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.