Rock Tech Announces Major Investor with 15.59% Share Ownership
(via Thenewswire.ca)
Vancouver, British Columbia, May 24, 2011 - Rock Tech Lithium Inc. (the "Company") (TSX-Venture: RCK; Frankfurt: RJIA) announces, pursuant to a private placement closed on May 19, 2011, IFOS Internationale Fonds Service AG has acquired ownership and control over 6,000,000 units of the Company (representing approximately 7.25% of the issued and outstanding common shares on a non-diluted basis), at a price of $0.25 per unit for aggregate consideration of $1,500,000.00 CAD. Each unit consists of one common share of the Company and one half of one common share purchase warrant, each whole warrant entitling the holder thereof to acquire one additional common share of the Company at a price of $0.60 per share for a period of 24 months ending May 19, 2013.
Following the acquisition, IFOS Internationale Fonds Service AG has ownership and control over 11,005,000 common shares of the Company, representing 13.32% of the issued and outstanding shares, and 3,000,000 share purchase warrants (14,005,000 common shares of the Company, representing approximately 15.59% of the issued and outstanding common shares, assuming exercise of all of the warrants).
IFOS Internationale Funds Service AG has acquired the shares for investment purposes and has no present intention to acquire further securities of the Company though reserves the right to acquire or dispose of securities of the Company in the future either through the open market, privately or otherwise, as circumstances or market conditions warrant.
A copy of the Early Warning Report has been filed with the applicable securities regulators regarding the above acquisition and is available on SEDAR (www.sedar.com).
On behalf of the Board of Directors,
"Eunho Lee"
President, CEO and Director
For further information please contact:
Brad Barnett
Controller, Senior Manager-Corporate Affairs and Corporate Secretary
Phone: (604) 688-1140 | Facsimile: (604) 688-1173
E-mail and website: info@rocktechlithium.com | www.rocktechlithium.com
Disclaimer:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements". Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.
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