ONTO, Nov. 23, 2023 /PRNewswire/ - November 23, 2023 - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium product manufacturer and recycler with a highly experienced technical team is pleased to announce that it has acquired a lithium processing plant located in Georgia, USA (the "Georgia Facility") that is capable of producing lithium products on a scalable, fully permitted, and operational basis.
Carlos Vicens, the CEO, Director and Founder of FCL, stated that the company now owns more than 60 acres of land and is well positioned to grow its business in all of its operating units. The Georgia Facility has received significant interest in growth initiatives from third parties over the past few months, so we thought we would crystallize ownership and growth potential in and around the facility."
According to FCL, the proposed acquisition of the Georgia Facility, including its land and all facilities, has now been completed for a price of US$500,000, as previously announced. As part of the agreement, the Company paid US$250,000 to the vendor, with the remaining US$250,000 being paid in installments next year, subject to certain conditions being met.
Further, FCL has also closed on the purchase of 39 acres of land owned by the Brantley County Development Authority that is adjacent to the Georgia Facility. In addition to providing direct rail and highway access to the facility, this land will also allow for significant expansion of the various lines of business of the company, such as midstream recycling, battery recycling, lithium refinery, and, most importantly, fire suppression (FSS). This will be of great importance for future operations.
In accordance with its shareholder-approved stock option plan, FCL's board granted annual incentive stock options ("Options") to its directors and officers after its year-end on October 31, allowing them to acquire an aggregate of 1.2 million common shares at $0.55 per share (which represented a premium over the closing price of $0.50 on November 21, the date of the stock option grant by FCL's board), for a period of 5 years, subject to the standard vesting provisions.
FCL's fully permitted lithium carbonate processing plant in the state of Georgia, USA is located in the epicenter of the largest EV buildout in North America. The plant is complemented by an experienced team of lithium experts, making FCL a different processor and manufacturer of lithium compounds.. In order to meet the demand for battery-grade raw materials, FCL is focused on the reintegration of lithium and battery materials using proprietary technology and know-how in an effort to meet the demand for vital raw materials for batteries. FCL is a multi-purpose company focused on three complementary feedstock processing divisions in addition to its lithium carbonate plant, including battery recycling from off-spec and end-of-life lithium-ion batteries, lithium midstream recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstocks.. To complement FCL's motto of "the home of lithium science", the Company has established a Fire Suppressant Solution (FSS) to address the increasing number of difficult to extinguish and hazardous lithium-based fires that are occurring in the world today.. FCL's SEDAR profile can be found at www.sedar.com for more information regarding the company.Sedar, Sedar, Sedar.The Company's profile can be found at www.companyname.com and on its website at www.companyname.com.fullcirclelithium.Please visit http://www.com/
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It is important to note that neither the TSX Venture Exchange nor its Regulation Services Provider accept any responsibility for the adequacy or accuracy of this press release.
The information in this news release contains forward-looking statements within the meaning of securities legislation in the 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 stated otherwise.. Generally, forward-looking statements are characterized by the use of words such as "expect," "anticipate," "continue," "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "believe", "plans", "intends", the negative versions of these words, or other variations of these words or comparable terminology.. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations on the viability, effectiveness, safety and any potential commercial production and commercialization related to the fire suppressant solution which is at an early stage of testing and development, on receiving patent protection for the fire suppressant solution and related inventions and processes, the ability of FCL, a start-up venture, to continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for its business. It is important to note that forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements.. As a result of these factors, there are several potential risks and uncertainties associated with the technical aspects of a processing and refining business, as well as the loss of key technical and other employees, fluctuations in lithium prices, and the fire suppressant solution working as expected to meet safety requirements and firefighting requirements, applicable government regulations as well as potential client product specifications, as well as environmental requirements and issues to be addressed. See FCL's public filings for additional information on these risks.. The actual results, developments, and timetables could differ significantly from the estimates presented in this document. It is recommended that readers refrain from placing undue reliance on forward-looking statements in this document.. The FCL expressly disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required to do so by law.. Additionally, FCL undertakes no obligation to comment on any analyses, expectations or statements made by third parties in regards to FCL, FCL's financial or operating results, or FCL's securities on behalf of third parties
Additionally, FCL undertakes no obligation to comment on any analyses, expectations or statements made by third parties in regards to FCL, FCL's financial or operating results, or FCL's securities on behalf of third parties
Full Circle Lithium Inc. is the source of this information
The Fire Suppressant Solution ("FSS") developed by FCL is specifically designed to neutralize the chemical reactions that cause lithium batteries to catch fire in the first place.
FCL's large-scale demonstration plant, which is being installed in one of its clients' chemical facilities, is using the company's proprietary lithium extraction technology to...
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