Star Metro - Full Circle Lithium Announces Closing of Private Placement

Pursuant to the second tranche closing, the Company issued 4,281,250 units (the "Units") at a price of $0.40 per Unit for additional gross proceeds of $1,712,500 (the "Second Tranche").

Together with the first tranche of the Offering, which closed on July 15, 2026, the Company issued 12,853,750 Units for gross proceeds of $5,141,500. The Offering was oversubscribed relative to the Company's initially announced offering amount of $5,000,000 and is now closed.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$0.70 for a period of 18 months from the date of issuance, subject to an acceleration provision if the Company's common shares trade at or above C$1.20 for ten consecutive trading days, in accordance with the terms previously announced by the Company.

Net proceeds from the Offering are expected to be used to expand production capacity, inventory, sales and marketing initiatives for the Company's growing portfolio of FCL-X™ lithium-ion battery fire suppression products, as well as for general working capital.

The Company paid cash finder's fees of approximately $188,167.50 and issued 468,300 finder warrants (the "Finder Warrants") to certain arm's-length finders, which includes finder's fees incurred in connection with the first tranche of the Offering. Each Finder Warrant will entitle the holder to purchase one common share at a price of $0.40 for a period of eighteen months following the Closing Date. The Finder Warrants will not be listed on the TSX Venture Exchange (the "TSXV") or any other exchange.

All securities issued under the Offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and the policies of the TSXV. The securities are also subject to a contractual restriction on transfer for 12 months from the date of issuance.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Full Circle Lithium Corp.

FCL is a U.S.-based manufacturer of sustainable solutions for the lithium battery safety sector. Its flagship product innovation, FCL-X™, is a proprietary, non-hazardous, water-based fire-extinguishing agent designed specifically to combat the growing threat of lithium-ion battery fires. Backed by a world-class technical team, FCL is committed to delivering safe, effective, and environmentally responsible fire mitigation technologies.

For more information:
Carlos Vicens - CEO & Director
Email: [email protected]
Phone: +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 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 the use of proceeds from the Offering, 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 loss of key technical and other staff, 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.

SOURCE: Full Circle Lithium Corp.

View the original press release on ACCESS Newswire

O.Poirier--SMC