Non-brokered deal funds exploration of Georgia Lake lithium property
By Devika Patel
Knoxville, Tenn., June 27 – Rock Tech Lithium Inc. said it increased its non-brokered private placement of units to C$1.18 million from C$600,000. The deal priced on May 16.
The company will now sell 3.94 million units of one common share and one half-share warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.50 for two years. The strike price reflects a 51.52% premium to the May 13 closing share price of C$0.33.
Proceeds will be used for exploration and development of the Georgia Lake lithium property.
Rock Tech is a Vancouver, B.C., mineral exploration company focused on the lithium industry.
| Issuer: | Rock Tech Lithium Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,182,000
|
| Units: | 3.94 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | May 16
|
| Upsized: | June 27
|
| Stock symbol: | TSX Venture: RCK
|
| Stock price: | C$0.33 at close May 13
|
| Market capitalization: | C$6.33 million
|
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