ROK Resources (ROKRF) Update - August 8

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REGINA, SK / ACCESSWIRE / August 8th, 2024 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) is pleased to announce it has entered into a Share Exchange Agreement with EMP Metals Corp. (“EMP Metals”), effective August 1st, 2024 (the “Share Exchange Agreement”) wherein ROK will exchange its common shares of Hub City Lithium Corp. (“Hub City Lithium”), a private entity, in return for 17,085,000 common shares (each a “Common Share”) of EMP Metals, a public entity which trades on the Canadian Securities Exchange under the trading symbol “EMPS”.

EMP Metals Corp. trades on the OTCQB under the symbol EMPPF

At Closing, ROK’s ownership in EMP Metals will be approximately 17.11%. This ownership is inclusive of the Common Shares issued in the Share Exchange Agreement, plus shares issued through the Management Agreement, outlined below. The exchange of Hub City Lithium common shares for EMP Metals common shares is expected to have no tax implications to the Company due to 85(1) rollover provisions. Post-closing, EMP Metals will appoint Mr. Bryden Wright, President and Chief Operating Officer of ROK, to the Board of Directors of EMP Metals.

“The share exchange of ROK’s interest from privately held Hub City Lithium to publicly traded EMP Metals marks another significant step in enhancing value for ROK and its shareholders. As the manager of operations and a significant shareholder in EMP Metals, ROK is eager to build on our early successes and advance one of the best-in-class lithium brine projects in North America," commented Bryden Wright, President and Chief Operating Officer.

Closing is scheduled for four days following regulatory and exchange approval, however no later than September 30th, 2024.