NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.
TORONTO, May 10, 2023 (GLOBE NEWSWIRE) — Full Circle Lithium Corp. (“FCL” or the “Company”) (TSXV:FCLI), a USA based lithium products manufacturer and recycler with a highly experienced technical team and fully permitted lithium processing plant in Georgia, announces that it is installing a modular demonstration processing plant using FCL proprietary technology to capture and recycle lithium compounds for a multinational chemical company (“ChemicalCo1”) at one of its specialty chemical plants in the USA.
“Our goal from day one has been to utilize our technology and know-how to recycle lithium as soon as possible and generate returns to shareholders,” said Mr. Carlos Vicens, Founder, CEO & Director of FCL. “Our modular demo plant installation is the culmination of our efforts that began last year working with Chemicalco1 and aligns FCL with its first chemical company client in our efforts to recycle lithium. These are our fist formative steps in developing long-term relationships with industrial and chemical companies in our midstream feedstock recycling business. We are confident that these steps will lead to other commercial opportunities and strategies to integrate FCL’s infrastructure in Georgia, as well as our lithium processing technologies and decades of know-how into the global battery material value chain.”
Over the past year, the Company has tested a number of lithium bearing samples provided by potential clients in both laboratory and at pilot scale and has proven the ability to capture and extract lithium compounds from a variety of lithium streams. Based on positive results of such work with Chemicalco1, FCL has designed and built a large modular demonstration plant (the “FCL Demo Plant”), using its proprietary extraction and processing technology and know-how (the “FCL LEP Technology”).
The Company is currently working on the installation of the FCL Demo Plant at ChemicalCo1’s plant, which is expected to be operational in the Q2-Q3 2023 timeframe. The purpose of the FCL Demo Plant is to demonstrate FCL’s ability to capture and process ChemicalCo1’s lithium that is lost in its process onsite and at a larger scale using FCL LEP Technology to produce a lithium product of sufficient purity and that meets all specifications for direct use by ChemicalCo1. Upon successful operation of the FCL Demo Plant, and subject to a definitive agreement, FCL will, expand the FCL Demo Plant into an operating commercial plant (the “FCL Commercial Plant”) and ChemicalCo1 will acquire all the recovered lithium product production. Once in full production the FCL Commercial Plant will be designed for an initial capacity of 500 tonnes of lithium carbonate per annum equivalent and capacity can be expanded as required.
The FCL Demo Plant and FCL LEP Technology are environmentally focused processes using minimal water and limited reagents. The FCL Demo Plant system is built in a modular manner so that it can easily serve as the base for the FCL Commercial Plant. FCL is aligned with the sustainability and cost objectives of its customers, communities, and governmental infrastructure initiatives.
Full Circle Lithium Corp.
Carlos Vicens – CEO & Director
About Full Circle Lithium Corp.
With a fully permitted lithium processing plant in Georgia, USA and a complement of seasoned lithium experts, Full Circle is a lithium processor focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. Full Circle is focused on three complementary battery material processing divisions: battery recycling from end-of-life lithium-ion batteries, lithium mid-stream recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. Additional information regarding Full Circle Lithium Corp. is available on SEDAR at www.sedar.com under the Company’s profile and its website www.fullcirclelithium.com.
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations, the ability of Full Circle Lithium, a start-up venture, to continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for its business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors related to the technical elements in a processing and refining business, loss of key technical and other staff, lithium price fluctuations, the demo plant functioning as expected to meet client product specifications, final agreement with client, and environmental issues – see additional risks described in the Company’s public filings. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Additionally, Full Circle Lithium undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Full Circle Lithium, its financial or operating results or its securities.