NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.
TORONTO, Sept. 27, 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, scalable, and operational lithium processing plant in Georgia, USA (the "Georgia Facility"), announces that it is acquiring 100% ownership of its currently leased Georgia Facility.
"Our Georgia Facility is key to our business, and we wanted to crystallize the value and have full control of our assets," said Carlos Vicens, CEO of FCL. "With the acquisition of the property we look forward to developing our Georgia Facility and potentially adding additional land for additional future growth."
The Company had previously entered into a lease and option to purchase agreement for the Georgia Facility, including the land and all facilities (the "Lease Agreement") with an option to purchase the facility and lands at a price of US$500,000.
The Company has entered into a binding purchase and sale agreement and paid US$30,000 as a downpayment. On closing of the purchase, which is expected in the next few weeks, US$220,000 will be paid to the vendor and the remaining US$250,000 will be paid in instalments over the course of next year, subject to certain conditions.
Full Circle Lithium Corp.
Carlos Vicens - CEO & Director
cvicens@fullcirclelithium.com
(647) 629-0018
About Full Circle Lithium Corp.
With a fully permitted lithium processing plant in Georgia, USA and a complement of seasoned lithium experts, FCL 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. FCL 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 FCL is available on SEDAR at www.sedar.com under the Company's profile and its website www.fullcirclelithium.com.
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 closing of the purchase and sale agreement, the development of the Georgia Facility, the ability of FCL, 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, 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.
