TORONTO, May 31, 2024
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF)
(FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the "Company") is
pleased to announce the official handover of all construction and
operation permit approvals for its German Lithium refinery. Today,
the state of Brandenburg's Minister for Climate Action and
Environment Axel Vogel and Minister
for Economic Affairs Joerg Steinbach
handed over the notice of approval for the Lithium-Hydroxide
Converter to Rock Tech's CEO Dirk
Harbecke. The handover took place during a meeting in the
State Chancellery in Potsdam. Guben's Mayor Fred Mahro and
representatives from Rock Tech were also in attendance. All parties
welcomed the successful completion of the approval process as a
progressive step in the realisation of regional and resilient
battery supply-chains.
Rock Tech plans to build Europe's first Lithium converter with a
capacity of 24,000 tonnes of Lithium-Hydroxide per year.
Lithium-Hydroxide is required as a raw material for battery
production for electric cars and energy storage systems.
Rock Tech's CEO Harbecke states: "I'd like to thank the
State of Brandenburg and in particular the State Office for the
Environment which was responsible for the permit. The construction
and operating licence for our lithium refinery is a strong signal
for Rock Tech and Europe. The
support of the state, the city of Guben, and
other stakeholders involved is exceptionally encouraging. The
permits not only allow us to now move into the last stage of
financing for the project, but they are also proof that our concept
works and the Guben converter will serve as the blueprint for our
other refinery projects worldwide. We expect to finalise subsidy
negotiations and equity term sheets with strategic partners soon.
The credit approval process with our banking partners will
follow shortly after and we aim to take the final investment
decision (FID) in Q3 this year."
Minister Steinbach adds: "I am delighted that the
approvals have now been issued and that Rock Tech's construction
project is one step closer to realisation. The future production of
Lithium-Hydroxide in Guben represents a further building block in
the creation of an EV value-chain that is currently being
established in Brandenburg. The state government is supporting Rock
Tech Lithium as much as possible and has initiated all necessary
steps."
Additionally, the Company announces that it has appointed
Derek Sobel to the position of Chief
Financial Officer as of June 01,
2024. Mr. Sobel is a Chartered Professional Accountant (CPA,
CA) with extensive financial reporting experience in the Canadian
public markets. He held the position of Head of Accounting, Audit,
and Tax for Rock Tech since 2021. He follows Ms. Sonja Rossteuscher, who has held the position as
CFO since November 2022.
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 doorstep 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. The second
Lithium converter is planned to be built in Red Rock,
Ontario, Canada. 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. 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's goal: to create a closed-loop lithium production
system.
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 expectations concerning the Guben Converter,
including the design and features of the Guben Converter, as well
as the expected costs, capital expenditures, timing and outcomes
thereof; statements regarding the Company's future plans,
estimates, and schedules relating to the Guben Converter, including
the anticipated timing of future activities taken in support of the
development thereof; Rock Tech's potential financing arrangements;
the expected economic performance of the Guben Converter and
anticipated production of battery-grade lithium hydroxide and
related processing methods employed; the estimated capital and
operating costs of the Guben Converter; the anticipated timing and
outcomes of a final investment decision, construction activities
and commissioning of the Guben Converter; statements regarding the
Company's sustainability and ESG related goals and strategy,
including the benefits and achievement thereof and future actions
taken by the Company in relation thereto; expected regulatory
processes and final outcomes; expectations regarding the electric
vehicle industry, including the demand for and pricing of
battery-grade lithium hydroxide and the benefits therefrom, and the
development of political and regulatory frameworks especially in
Germany and the European Union;
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
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, 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. 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/official-permit-ceremony-for-german-lithium-refinery-with-brandenburg-state-officials-today-milestone-for-rock-tech-and-german-battery-value-chain-302160749.html
SOURCE Rock Tech Lithium Inc.