Full Circle closes $4.5-million private placement

Executive Summary

• Full Circle Lithium Corp. has closed a non-brokered private placement, raising gross proceeds of C$4.5 million due to strong investor demand.
• The offering was upsized and consists of 22.5 million units priced at 20 cents per unit, comprising common shares and warrants.
• The capital raise enables the company to accelerate its transition into full-scale growth, specifically focusing on the commercialization of its FCL-X lithium-ion battery fire-extinguishing agent and securing intellectual property.

Key Details

• Gross Proceeds: C$4.5 million.
• Units Issued: 22.5 million units.
• Price Per Unit: 20 cents.
• Warrant Terms (Investors): Each unit includes one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of 30 cents. The warrants are exercisable for 24 months from September 5, 2025.
• Warrant Acceleration: Warrants accelerate if the company's shares trade at or above 80 cents for 20 consecutive trading days.
• Finder Fees: Cash finders' fees of approximately $150,290 were paid to PowerOne Capital Markets Ltd. (lead finder).
• Finder Warrants: 751,450 finder warrants were issued to arm's-length finders, entitling holders to purchase one unit at 20 cents for 24 months following the closing date.
• Regulatory Basis: Completed pursuant to the listed issuer financing exemption under National Instrument 45-106, allowing for freely tradeable shares in Canada.
• Insider Participation: Insiders subscribed to an aggregate of 450,000 units. This constitutes a related party transaction under Multilateral Instrument 61-101.
• Insider Hold Period: The 450,000 units subscribed by insiders are subject to a four-month hold period per TSX Venture Exchange policies.
• Use of Proceeds: Advancing product development of FCL-X, securing IP/patents, launching retail products, developing a training center for fire response personnel, and supporting working capital for expanded operations.

Notable Quotes

• "The overwhelming response to our offering underscores investor confidence in our vision and technology. With a strengthened balance sheet, we are now ideally positioned to accelerate commercialization efforts and scale our operations," said Carlos Vicens, chief executive officer and director of Full Circle Lithium.