Rock Tech Grants Stock Options

VANCOUVER, British Columbia, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Rock Tech Lithium Inc. (TSX-V: RCK) (the “Company” or “Rock Tech”) announces that it has granted 510,000 stock options to directors, officers and consultants of the Company.

A portion of the stock options (500,000) have an exercise price of $0.43 per share and will expire on December 31, 2025. The remaining portion (10,000) have an exercise price of $0.53 per share and will expire on January 13, 2023.

Furthermore, the Company wishes to announce additional amendments to its outstanding stock options. The Company announces the cancelation of 500,000 stock options granted to a director and officer with an exercise price of $0.05 expiring on May 31, 2020. The Company, subject to the approval of the TSX Venture Exchange and, in certain circumstances, disinterested Shareholder Approval, also wishes to amend the terms of 1,250,000 stock options with an exercise price of $1.50 expiring on December 31, 2021 to an exercise price of $0.53 per share and an expiry date of December 31, 2025. Additionally, the Company wishes to amend the terms of 1,480,000 stock options with an exercise price of $0.88 expiring on August 6, 2022 to an exercise price of $0.53 per share and an expiry date of December 31, 2025. The Company wishes to amend the terms of 225,000 stock options with an exercise price of $0.62 expiring on June 6, 2022 to an exercise price of $0.53 per share and an expiry date of December 31, 2025. Lastly, the Company wishes to amend the terms of 45,000 stock options with an exercise price of $0.93 expiring on December 31, 2021 to an exercise price of $0.53 per share and an expiry date of December 31, 2025.

The Company also wishes to amend the terms of 1,445,556 share purchase warrants with an exercise price of $1.45 expiring on December 31, 2020 to an exercise price of $0.95 per share and an expiry date of December 21, 2021. Additionally, the Company wishes to amend the terms of 389,446 warrants with an exercise price of $1.25 expiring on April 8, 2022 to an exercise price of $0.85 per share.

All proposed amendments to stock options and share purchase warrants are subject to the approval of the TSX Venture Exchange and, in certain circumstances where proposed amendments are related to stock options granted to Insiders of the Company, disinterested Shareholder Approval.

On behalf of the Board of Directors,

“Brad Barnett”
Brad Barnett
Chief Financial Officer

For more information, please contact:

Brad Barnett
Chief Financial Officer
Rock Tech Lithium Inc.
777 Hornby Street, Suite 600
Vancouver, B.C., V6Z 1S4
Telephone:  (778) 358.5200
Facsimile:  (604) 670.0033
Email: bbarnett@rocktechlithium.com

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

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 press release.  This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. 

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements.  Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions.  Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements.  Forward-looking statements are based on estimates and opinions of management at the date the statements are made.  The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change.  Investors should not place undue reliance on forward-looking statements.