Rock Tech and Arcore Enter into Strategic Partnership for European Lithium Supply
- Arcore AG and Rock Tech have concluded a strategic partnership to regionally source and supply Rock Tech's converter operations in Europe.
- European lithium shall be sustainably sourced from Arcore's wholly-owned Lopare mining project in Bosnia and Herzegovina.
TORONTO and ZUG, Switzerland, Nov. 13, 2023 /PRNewswire/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") and Arcore are pleased to announce a strategic partnership to secure a reliable and long-term supply of lithium products for Rock Tech's European converter operations. The parties intend to regionally source sustainable European lithium from Arcore's wholly-owned Lopare mining project in Bosnia and Herzegovina to feed Rock Tech's conversion facility.
Rock Tech and Arcore, a privately-owned Swiss-based lithium mining company, have agreed to explore a strategic partnership with the aim to secure long-term supply of lithium chemicals to Rock Tech's European converter. This partnership is intended to enable Rock Tech to access Arcores considerable lithium resources at its Lopare Project in Bosnia and Herzegovina.
This forthcoming collaboration is an unambiguous proof of the development of a regional and domestic value chain for EV batteries within Europe, to which both companies are contributing through lithium supply and conversion. As next steps the Parties intend to define product specifications, negotiate an offtake agreement including quantities and prices. The Parties are committed to working towards a zero-waste and net-zero emission production of lithium.
"Arcore's project is an important element of our regional supply strategy. Linking with Arcore also demonstrates how important our converter in Europe is for making lithium consumable for European cathode and battery manufacturers. I'm looking forward to taking and implementing the next steps, which will undoubtedly meet the industry's needs," said Rock Tech's CEO Dirk Harbecke.
Ali Vezvaei, Chairman of the Supervisory Board of Arcore, said, "Arcore is delighted to partner with Rock Tech, and we look forward to a successful and synergetic relationship, not only commercially for the parties, but also strategically for the European continent as a whole. Our supply of lithium will contribute to Rock Tech's cutting-edge converter operations."
Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The Company plans to build lithium converters at the door-step of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with the Company's proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the Thunder Bay Mining District of Ontario, Canada, as well as procuring it from other responsibly producing mines. In the years to come, the Company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system. www.rocktechlithium.com
Arcore is a privately-owned Switzerland-based lithium mining company with extensive lithium resources and a commitment to environmental and safety standards while seeking to accelerate Europe's energy transition reliably. https://arcore.ch/
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.
Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking information pertaining to the outcome of amount, quality of products from Arcore's future mining operations, regulatory decisions and outcomes; schedules and completion dates; access to capital markets and other sources of financing; the supply and demand for, deliveries of, and the level and volatility of prices of, intermediate and final lithium products; future exchange and interest rates; general business and economic conditions; the costs and results of development, exploration and operating activities; Rock Tech's ability to procure supplies and other equipment necessary for its business; and the accuracy and reliability of technical data, forecasts, estimates and studies;; Rock Tech's opinions, beliefs and expectations regarding the outcome of the above mentioned agreement, the Company's own business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties; the pending development of Arcore's development, their accuracy and reliability of technical data, forecasts, estimates and studies.
Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements. There may also be other factors that cause actual results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's most recent management's discussion and analysis and annual information form filed with the applicable securities regulators, or known and unknown risks and uncertainties that may the Company's ability to access additional funding required to invest in available opportunities and projects.
No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
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SOURCE Rock Tech Lithium Inc.
