09:12 AM EDT, 09/05/2025 (MT Newswires) -- Rock Tech Lithium ( RCKTF ) overnight Thursday said it has raised a total of near C$5.2 million in the first tranche closing of a private placement of near 5.8 million units, priced at $0.90 each.

A statement noted each unit consists of one common share and one common share purchase warrant of the company, exercisable at price of $1.17 to purchase one additional common share of the company for a period of three years from the date of issuance.

Rock Tech has also raised $306,000 in the second tranche of a non-brokered offering.

Proceeds will be used to fund the development of the Guben converter in Germany, which is expected to produce battery-grade lithium hydroxide in 2026.

Rock Tech closed up $0.02, to $0.87, on the Toronto Stock Exchange on Thursday.