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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."
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
On behalf of the Board of Directors,
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.
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