First European Funding after getting recognition as a 'Strategic Project' - Rock Tech receives funding to lead Lithium Refining Innovation project by EIT RawMaterials
EIT RawMaterials, supported by the European Institute of Innovation and Technology, a body of the European Union has selected Rock Tech for funding to commercialize novel lithium processing technologies in Germany.
Rock Tech will collaborate with leading research partners, including Advanced Minerals and Recycling Industrial Solutions (AdMiRIS), National Technical University of Athens (NTUA), and Vlaamse Instelling voor Technologisch Onderzoek NV (VITO).
The project has been allocated a total funding of EUR 2.5 million of which Rock Tech will be receiving up to EUR 1 million to drive innovation and optimization work of its lithium conversion processes.
TORONTO, June 11, 2025 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FSE: RJIB) (the "Company" or "Rock Tech") is pleased to announce that it has been selected for funding under the prestigious KAVA (Knowledge and Innovation Activities) grant program by EIT RawMaterials, the most active network in the raw materials sector in Europe. This recognition supports Rock Tech's ongoing commitment to advancing innovative lithium refining solutions in Europe and is the first funding awarded after Rock Tech's Lithium Hydroxide Convertor Guben (LHCG) project has been recognized as a strategic project under Critical Raw Materials Project by the European Commission. Rock Tech will receive EUR 800,000 to improve and innovate its lithium conversion process to be applied to its Guben Converter in the future.
Under the KAVA Call-funding program, Rock Tech's Lithium subsidiary company Rock Tech Guben GmbH will collaborate with leading research and industry partners, including NTUA (Greece), VITO (Belgium), and Admiris (Greece), to optimize lithium extraction processes and enhance lithium hydroxide monohydrate (LHM) production from spodumene. Rock Tech believes this optimization work will create substantial future operational and cost benefits for the Guben Converter.
"We are honored to be selected for the KAVA Call funding and to work jointly with partners to commercialize innovative, potentially game-changing lithium processing technologies", comments Mirco Wojnarowicz, Rock Tech's CEO.
The selected project, named OLiVer (Hard rock Lithium Extraction and Purified Value Products for Energy Applications) will demonstrate innovative processes at pilot scale, significantly improving lithium recovery efficiency and reducing environmental impact in line with EU green transition goals. The OLiVer project will focus on four main objectives:
Optimizing pyro-hydro-metallurgical processing to enhance lithium extraction efficiency from spodumene.
Developing a novel secondary lithium sulfate recovery process, enabling improved lithium recovery rates.
Integrating primary and secondary lithium sulfate streams to boost overall LHM production yield.
Conducting pilot-scale demonstrations to establish commercial viability for the enhanced lithium extraction process.
With this project, Rock Tech aims to drive forward the EU's critical raw materials strategy and sustainability goals by producing high-purity LHM for electric vehicle batteries regionally.
ABOUT ROCK TECH
Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced Lithium, targeting a 100% recycling rate. To ensure resilient supply chains, the company plans to build Lithium converters at the doorstep of its customers, beginning with the Company's proposed Lithium-Hydroxide Converter in Guben, Brandenburg, Germany. The second Converter is planned to be built in Red Rock, Ontario, Canada. Rock Tech Lithium plans to source raw material from its own Georgia Lake spodumene project in the Thunder Bay Mining District of Ontario, Canada, and procure from other ESG-compliant mines. Ultimately, Rock Tech's goal is to create a closed-loop Lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase efficiency and sustainability further.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION 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 expectations concerning the Guben Converter, including the design and features of the Guben Converter, as well as the expected costs, capital expenditures, timing and outcomes thereof; statements regarding the Company's future plans, estimates, and schedules relating to the Guben Converter, including the anticipated timing of future activities taken in support of the development thereof; Rock Tech's potential financing arrangements; the expected funding under the KAVA grant program by EIT RawMaterials, the expected economic performance of the Guben Converter and anticipated production of battery-grade Lithium Hydroxide and related processing methods and innovation employed; the estimated capital and operating costs of the Guben Converter; the anticipated timing and outcomes of a final investment decision, construction activities and commissioning of the Guben Converter; statements regarding the Company's sustainability and ESG related goals and strategy, including the benefits and achievement thereof and future actions taken by the Company in relation thereto; expected regulatory processes and final outcomes; expectations regarding the electric vehicle industry, including the demand for and pricing of battery-grade Lithium Hydroxide and the benefits therefrom, and the development of political and regulatory frameworks especially in Germany and the European Union; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties. 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, 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. 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.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
2 days ago
- Cision Canada
GreenPower Closes Fourth Tranche of Term Loan Offering
VANCOUVER, BC, June 27, 2025 /CNW/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, announces the closing of the fourth tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $200,000 (collectively the " Loans"). Please refer to the Company's news release dated May 13, 2025 for more details regarding the term loan offering. In connection with the Loans, the Company entered into respective loan agreements with companies controlled by the CEO and a Director of the Company (the " Lenders"). Management anticipates that the Company will allocate the net proceeds from the Loans towards production costs, supplier payments, payroll and working capital. The Loans are secured with a general security agreement on the assets of the Company subordinated to all senior debt with financial and other institutions and will bear interest of 12% per annum commencing on the date of closing (the " Closing Date") to and including the date all of the Company's indebtedness pursuant to the Loans is paid in full. The term of the Loans will be two years from the Closing Date. As an inducement for the Loan, the Company issued 263,157 non-transferable share purchase warrants (each, a " Loan Bonus Warrant") to one of the Lenders. Each Loan Bonus Warrant entitles the holder to purchase one common share of the Company (each, a " Share") at an exercise price of U.S. $0.38 per Share for a period of twenty-four (24) months from the closing date of the Loan. In addition, one Lender will be issued an aggregate of 52,631 Shares (each a " Loan Bonus Share"). The Lenders are each considered to be a "related party" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101") and each of the Loans and issuance of Loan Bonus Warrants and Loan Bonus Shares, as applicable, is considered to be a "related party transaction" within the meaning of MI 61-101 but each is exempt from the formal valuation requirement and minority approval requirements of MI 61-101 by virtue of the exemptions contained in section 5.5(a) and 5.7(a) as the fair market value, in each case, of the Loans, the Loan Bonus Warrants, and the Loan Bonus Shares, as applicable, is not more than 25% of the Company's market capitalization. All securities issued in connection with the Loans will be subject to a statutory hold period of four months plus a day from the closing of the Initial Loan in accordance with applicable securities legislation. For further information contact: Fraser Atkinson, CEO (604) 220-8048 Brendan Riley, President (510) 910-3377 Michael Sieffert, CFO (604) 563-4144 About GreenPower Motor Company Inc. GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to Forward-Looking Statements This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the use of proceeds of the Loan. Although the Company believes that and the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that the proceeds of the Loan may not be used as stated in this news release, and those additional risks set out in the Company's public documents filed on SEDAR+ at and with the United States Securities and Exchange Commission filed on EDGAR at Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. 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. ©2025 GreenPower Motor Company Inc. All rights reserved.
Cision Canada
2 days ago
- Cision Canada
LSL PHARMA GROUP ANNOUNCES VOTING RESULTS OF ITS ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS
BOUCHERVILLE, QC, June 27, 2025 /CNW/ - LSL PHARMA GROUP INC. (TSXV: LSL) (" LSL Pharma" or the " Corporation"), a Canadian integrated pharmaceutical company, today announced the voting results of its annual general and special meeting of shareholders held today in Boucherville, Québec at the Corporation's headquarters (the " Meeting"). Election of Directors Mr. François Roberge, Mr. Frank Dellafera, Mr. Mario Paradis and Mr. Louis Laflamme were elected directors of the Corporation to hold office until the next annual meeting of shareholders or until their successors are appointed or elected. Each of the remaining director nominees have received less than 50% of the votes cast in favour of their election. At the Corporation's request, these nominees may continue in office, for a maximum of 90 days for transition purposes, after which the Board will accept their resignations. Full voting results are available on SEDAR+ at Appointment of Auditors Audacie Inc. has been re-appointed as auditors of the Corporation for the ensuing year and the directors are authorized to fix their remuneration. Approval of Stock Option Plan The current 10% rolling stock option plan of the Corporation has been re-approved until the next annual meeting of shareholders. Further disclosure on the matters approved at the Meeting, including full voting results, can be found in the notice and accompanying management information circular filed in respect of the Meeting and available on SEDAR+ at ABOUT LSL PHARMA GROUP INC. LSL Pharma Group Inc. is a Canadian integrated pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceutical products, as well as pharmaceutical, cosmetic and natural health products in solid, semi-solid and liquid dosage forms. Companies forming part of LSL Pharma Group include Steri-Med Pharma Inc., LSL Laboratory Inc., Virage Santé Inc. and Dermolab Pharma Ltée. For further information, please visit our website at CAUTION REGARDING FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements as defined under applicable Canadian securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "continue" or similar expressions. Forward-looking statements are based on a number of assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Corporation's ability to control or predict, that could cause actual results or performance to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in the Corporation's filings with Canadian securities regulatory authorities, such as legislative or regulatory developments, increased competition, technological change and general economic conditions. All forward-looking statements made herein should be read in conjunction with such documents. Readers are cautioned not to place undue reliance on forward-looking statements. No assurance can be given that any of the events referred to in the forward-looking statements will transpire, and if any of them do, the actual results, performance or achievements of the Corporation may differ materially from those expressed or implied by the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. The Corporation does not undertake to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release. SOURCE Groupe LSL PHARMA INC.
Cision Canada
2 days ago
- Cision Canada
Starlight U.S. Multi-Family (No. 2) Core Plus Fund Completes Sale of Property in Denver, Colorado Comprising 400 Multi-Family Residential Suites and Announces Special Distribution
TORONTO, June 27, 2025 /CNW/ - Starlight U.S. Multi-Family (No. 2) Core Plus Fund (TSXV: SCPT.A) (TSXV: SCPT.U) (the " Fund") announced today that it has completed the sale of a 400-suite Class "A" institutional quality multi-family property built in 2018 and located in the Parker submarket of Denver, Colorado (the " Property") for cash proceeds of US$133.0 million. The Fund also announced a special cash distribution (the " Special Distribution") on its outstanding Class A Units, Class C Units, Class D Units, Class E Units, Class F Units, Class G and Class U Units (collectively, the " Units"), payable on July 15, 2025, to holders of Units of record at July 8, 2025. The Special Distribution amounts will be approximately as follows, subject to prevailing foreign exchange rates: C$2.7500 per Class A Unit C$2.9374 per Class C Unit C$2.7500 per Class D Unit US$2.6201 per Class E Unit C$2.8571 per Class F Unit US$2.5202 per Class G Unit US$2.5202 per Class U Unit The Fund intends to use proceeds from the sale of the Property to repay the mortgage on the Property, in full, in the amount of US$96.2M (including accrued interest thereon), as well as the Fund's unsecured debt, in full, in the aggregate amounts of US$11.8M (including accrued interest thereon) and outstanding payables. The remaining net proceeds from the sale will be distributed as described above pursuant to the Special Distribution. The net asset value of $3.50 per unit disclosed in the Fund's Management's Discussion and Analysis for the three months ended March 31, 2025, will be reduced by the Special Distribution amounts set out above. The TSX Venture Exchange (the " TSXV") has advised the Fund that it has determined to implement its "due bill" trading procedures with respect to the Special Distribution. Due bills attach to the underlying listed securities between the record date and the payment date, allowing the underlying listed securities to carry the value of the entitlement until it is paid. When due bills are used, the ex-distribution date is deferred to the first trading day after the payment date. For trading purposes, due bills will attach to the Units from the opening of business on the record date of July 8, 2025, until the close of business on the July 15, 2025 payment date (the " Due Bill Period"). This means that buyers of the Units through the facility of the TSXV during the Due Bill Period will receive the Special Distribution payment, provided they continue to be holders of the applicable Units on the payment date. The Units will commence trading on an ex-distribution basis from the opening of business on July 16, 2025, as of which date purchasers of the Units will no longer have an attaching entitlement to payment of the Special Distribution. The due bill redemption date will be July 16, 2025. As a result of the Units trading on a due bill basis during the Due Bill Period, unitholders entitled to be paid the Special Distribution owing on the due bills should expect to receive that payment on or about the due bill redemption date of July 16, 2025. Unitholders prior to the Due Bill Period who do not purchase or sell Units during the Due Bill Period will not have their applicable Special Distribution payment impacted by the due bill process. PORTFOLIO UPDATE Following the sale of the Property, the Fund continues to own a 275-suite Class "A" institutional quality multi-family property built in 2019 and located in the Alafaya submarket of Orlando, Florida and a 320-suite Class "A" institutional quality multi-family property built in 2002 and located in the Falls River submarket of Raleigh, North Carolina. FUND UPDATE The loans secured on the remaining two assets owned by the Fund had initial maturity dates of May 7, 2025. The Fund was unable to meet the loan extension requirements pursuant to the loan agreements and the Fund continues to negotiate with the lender on terms to modify and extend the loans. If the Fund is not able to otherwise negotiate an extension of such loan, the applicable lender may provide formal notice of an event of default expressing its right to demand repayment of the borrowings relating to such property. Under this scenario, the Fund may be obligated to sell such properties which may not be able to be completed on terms that are acceptable to the Fund or may be required to explore other options in the best economic interests of the Fund in order to discharge its obligations under any of the applicable loan agreements. There can be no assurances that any such sale or other liquidation events would result in additional proceeds for the Fund after repayment of all or some of the debt on each of the respective properties. The Fund's secured loans are non-recourse subject to standard limited recourse provisions and are entered into by the subsidiaries of the Fund that own only the associated secured property. As a result, the liability for any such loan would typically be limited to the value of the associated secured property, including any restricted cash reserves or other amounts held by the applicable lenders, other than in certain instances which may obligate the Fund to incur certain costs or other amounts subject to certain performance conditions. For additional information on the risks related to the Fund's ability to refinance or extend a loan at maturity, please refer to "Future Outlook" and "Liquidity and Capital Resources" in the Fund's Management's Discussion and Analysis for the three months ended March 31, 2025, which is available under the Fund's profile on FORWARD-LOOKING STATEMENTS This news release contains statements that may constitute forward-looking statements within the meaning of Canadian securities laws and which reflect the Fund's current expectations regarding future events, including the use of and sufficiency of the proceeds from the sale of the Property, the payment of distributions, the extension of loans on the Fund's properties, and the Fund's efforts to manage its liquidity. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this news release involve risks and uncertainties, including those set forth in the Fund's materials filed with the Canadian securities regulatory authorities from time to time at Actual results could differ materially from those projected herein. Those risks and uncertainties include, among other things, risks disclosed in the Fund's management's discussion and analysis for the year ended December 31, 2025, which is available under the Fund's profile on Information contained in forward-looking statements is based upon certain material assumptions that were applied in developing such forward-looking statements including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including that the net proceeds from the transaction will be used as described herein; Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, none of the Fund or its manager undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. ABOUT STARLIGHT MULTI-FAMILY (NO. 2) CORE PLUS FUND The Fund is a limited partnership formed under the Limited Partnerships Act (Ontario) for the primary purpose of directly or indirectly acquiring, owning and operating a portfolio of value-add, income producing rental properties located in the U.S. multi-family real estate market. The Fund now owns interests in and operates a portfolio comprising 595 suites located in Orlando, Florida and Raleigh, North Carolina. Starlight Investments is a leading global real estate investment and asset management firm headquartered in Toronto, Ontario, Canada. A privately held owner, developer and asset manager of over 70,000 multi-residential suites and over 7 million square feet of commercial property space with CAD $30B AUM, Starlight offers a range of investment vehicles across various real estate strategies. Starlight's guiding mission is to balance its tenure with visionary curiosity to create positive impact for investors and communities alike. At Starlight, we invest with impact. SOURCE Starlight U.S. Multi-Family (No. 2) Core Plus Fund
