Rock Tech Lithium Inc. announced a non-brokered private placement of up to 7,692,307 units at a price of CAD 1.30 per unit for the aggregate gross proceeds of CAD 9,999,999.1 on October 24, 2023. Each unit will consist of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of CAD 1.69 per warrant share for a period of 24 months following the date of issuance of such warrant, subject to and in accordance with the terms and conditions of the certificate evidencing such warrant, including adjustment in certain circumstances.

The transaction is expected to close or about November 7, 2023, subject to the satisfaction of certain customary closing conditions, including the approval of the TSX Venture Exchange. The unit shares and the warrants will be subject to four month hold periods in accordance with applicable Canadian securities laws and the rules of the TSXV.