TORONTO, March 14, 2025 /CNW/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer, announces that the Company proposes to amend the exercise price and term of 6,987,393 outstanding common share purchase warrants of the Company (the "Warrants") which were originally issued on April 21, 2023. The proposed expiry of the Warrants will be extended by one year from April 21, 2025 to April 21, 2026, and the proposed exercise price of the Warrants will be decreased from C$1.10 to C$0.70 (collectively, the "Amendments").
Full Circle Lithium logo (CNW Group/Full Circle Lithium Inc)
All other terms of the Warrants remain unchanged, and the Amendments are subject to final approval of the TSX Venture Exchange.
Clarifying Note to February Press Release
The Company also wishes to clarify the disclosure in its February 5, 2025 press release (the "February PR") relating to the consideration payable to RB Milestone Group LLC ("RBMG") for investor relations services. The February PR disclosed that RBMG had been retained for an initial term of 6 months at a cost of US$14,500 per month. In accordance with the terms of RBMG's contract, they are engaged for an initial term of six months, during which the Company will make: (i) a one-time payment of US$34,500 due on the start date of the agreement, and (ii) a one-time payment of US$25,000 due three months from the start date of the agreement. If RBMG continues to be engaged following the initial six month term, the agreement reverts to a monthly fee of US$4,500. All other disclosure related to RBMG in the February PR remains unchanged.
About Full Circle Lithium Corp.
FCL has developed an innovative lithium-ion battery fire-extinguishing agent named FCL-X™, to address the increasing number of difficult to extinguish and hazardous lithium-ion battery-based fires. FCL-X™ is a non-hazardous fire extinguishing agent specifically designed to combat lithium-ion cell and/or battery fires. It is a water-based solution that neutralizes complex chemical reactions, creating a protective layer on the surface of materials containing elemental lithium. FCL-X™ has been tested by 3rd party laboratories as well as on live fires on both small and industrial scale fires and has proved that it mitigates the lithium oxidation reaction, limiting hydrogen generation and stabilizing decomposing electrolytes. FCL-X™ is easy to use, with fast heat dissipation, minimal clean-up, and non-hazardous properties, making it a sustainable choice. FCL has gathered a leading technical team with over 100 years of combined lithium, fire and safety training and firefighting experience. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and on its website www.fullcirclelithium.com.
For further information:
Full Circle Lithium Corp. Carlos Vicens - CEO & Director ir@fullcirclelithium.com +1.416.977.3832
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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 otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "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 on the effectiveness of the marketing and sales of FCL-X™ through distribution agreements, the viability, effectiveness, safety and additional commercialization related to FCL-X™ which is at an early stage of commercialization (which is very difficult for a start-up venture like FCL as there are much larger and better capitalized established companies that can potentially quickly enter the lithium-ion battery fire-fighting market and create strong competition against FCL), on receiving patent protection for FCL-X™ and related inventions and processes, the ability of FCL, a start-up venture, to successfully commercialize its FCL-X™ including ramping-up production of the agent to meet potential demand, continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for this and its other lines of 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 battery fire-extinguishing agent functioning as expected to meet safety requirements and fire-fighting related government regulations and potential client product specifications, and applicable environmental requirements and issues – see additional risks described in FCL'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. FCL 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, FCL undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of FCL, its financial or operating results or its securities.
