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VANCOUVER, BC, June 30, 2022 /CNW/ - Rock Tech Lithium Inc (the "Company" or "Rock Tech") is pleased to announce that holders ("Shareholders") of common shares of Rock Tech ("Common Shares") approved all matters voted upon at the Company's annual general and special meeting of Shareholders held earlier today (the "Meeting"). Detailed information regarding each of the matters voted upon at the Meeting is provided in the management information circular of the Company dated May 27, 2022 (the "Circular"), copies of which are available on the Company's SEDAR profile at www.sedar.com.
A total of 13,022,978 Common Shares, representing approximately 18% of the issued and outstanding Common Shares, were represented in person or by proxy at the Meeting. All matters voted upon at the Meeting were duly authorized and approved by Shareholders, as follows:
Item of Business
Votes Against /
Appointment of Dale Matheson Carr-Hilton LaBonte LLP as Auditors of the Company
Setting the number of Directors of the Company at Seven
Election of Directors of the Company
Re-approval of the Stock Option Plan of the Company
Details regarding the voting results in respect of the election of directors of the Company are set forth below.
Election of Directors
The election of each of the following director nominees proposed by management was duly authorized and approved by Shareholders, as follows:
Jutta A. Dönges
Five of the director nominees previously served on the board of directors of Rock Tech, while Ms. Dönges and Ms. Gahagan were nominated for the first time. Ms. Dönges is a member of the executive board of the Federal Republic of Germany Finance Agency and a non-executive member of the supervisory board of Commerzbank AG, a significant entity supervised by the European Central Bank and the national competent authority. In order to act as a director of Rock Tech, Ms. Dönges requires the approval of these supervisory authorities (the "Regulatory Approval"). As at the date hereof, Ms. Dönges has applied for but not yet received the Regulatory Approval.
Ms. Dönges has agreed to deliver her formal consent to act as a director of the Company in accordance with the Business Corporations Act (British Columbia) subject to and following her receipt of the Regulatory Approval. Accordingly, while Ms. Dönges' election as a director of the Company has been authorized by Shareholders, she is not currently a director of the Company and, until the Regulatory Approval is granted and the Company has received Ms. Dönges' consent, she will not act as a director of the Company.
Following Ms. Dönges' becoming a director of the Company, she will hold office until Rock Tech's next annual meeting of Shareholders or until her successor is duly elected or appointed. The election of each of the other director nominees was effective as of the close of the Meeting, and such persons will hold office until Rock Tech's next annual meeting of Shareholders or until their successor is duly elected or appointed.
About Rock Tech Lithium Inc.
Rock Tech Lithium Inc. is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high-quality, "made in Germany" lithium hydroxide. As early as 2024, Rock Tech intends to commission Europe's first lithium converter with a 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.
Rock Tech owns the Georgia Lake Project in Ontario, Canada. The Company has set itself the goal of creating a closed-loop for lithium, thus closing the raw material gap on the road to clean mobility. As early as 2030, around 50 percent of the raw materials used by Rock Tech are expected to come from the recycling of batteries.
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 its 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 press release contains forward-looking information pertaining to: Ms. Dönges receipt of necessary regulatory approvals to act as a director of the Company and delivery of her consent to act, including the occurrence and timing thereof; the Company's proposed lithium converter, including the timing and features thereof; the Company's expectation that it will source around 50 percent of its raw materials from recycled batteries by 2030; 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: 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 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 converter(s) and other projects, 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.
The Company cannot assure readers 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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