Rock Tech Lithium Inc. announces that it has granted an aggregate of 300,000 stock options to certain directors of the Company.
The Company has granted an aggregate of 300,000 stock options to certain directors of the Company. The stock options were granted effective October 17, 2022 and have a term of five years from the date of grant, with 30% vesting immediately and 70% vesting in equal monthly installments over a 24 month period following the date of grant. The stock options may be exercised at a price of $2.77 per share, being the closing price of the Company’s common shares on the TSX Venture Exchange on October 14, 2022.
The stock options were granted pursuant to the stock option plan of the Company dated April 9, 2020, as most recently approved by the shareholders of the Company on June 30, 2022.
On behalf of the Board of Directors,
Rock Tech is a cleantech company on a mission to produce lithium hydroxide for EV 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. 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 ESG standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its own mineral project in 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.