- FCL has entered an exclusive arrangement with a second USA-based client to extract and process lithium from the client's lithium-rich brine.
- The extracted lithium would be processed at FCL's fully permitted lithium production plant in Georgia, USA, to make saleable lithium carbonate.
- FCL's proprietary direct lithium extraction processing technology has proven to extract +99% of the lithium in solution and remove virtually all impurities at our first chemical brine client's real-life demonstration deployment.
- FCL is the first lithium manufacturing company with a fully operational and permitted lithium carbonate production plant in the USA since the 1990s
- This success has led to this current client opportunity as well as other potential opportunities being pursued by FCL.
TORONTO, April 2, 2024 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer and recycler with a highly experienced technical team is pleased to report it has signed a second detailed commercial term sheet, containing 9-month binding exclusivity, with a US based specialty industrial and chemicals company ("IndustrialCo2") to extract lithium from its lithium-bearing brine and make saleable lithium products therefrom.
Initial lab work performed by FCL demonstrated that its proprietary direct lithium extraction processing technology successfully extracted lithium from IndustrialCo2's brine. FCL has now commenced technical and economic feasibility test work. Following the successful results of this feasibility work, FCL would build a second commercial-scale plant and deploy it to IndustrialCo2's facilities, which would extract lithium from IndustrialCo2's brine and convert it to lithium chloride.
The lithium chloride extracted from IndustrialCo2's lithium brine would be transported to FCL's fully permitted and operational lithium carbonate production plant in Nahunta Georgia to make saleable lithium products which FCL would then sell into the market. The Company believes that up to 300 tonnes of lithium carbonate per year can be recovered from IndustrialCo2's brine. The target timeline for full commercial production at IndustrialCo2 is estimated to be the end of 2024.
Carlos Vicens, Founder and CEO stated: "After our initial success with our first client we are building on our lithium midstream recycling business utilizing our scalable proprietary technology as well as our installed lithium carbonate refinery capacity. This is the backbone of our business and, if all technical and economic work is favourable, will provide significant potential value and necessary feedstock for our plant."
Initial lab and piloting work is ongoing at the Georgia facility and sampling has been received. The corresponding economic work will be done after technical parameters are established with IndutrialCo2. The Company is also working with several other potential clients and will provide progress updates as soon as they become available.
Join Carlos Vicens, CEO of Full Circle Lithium for a LIVE Virtual Event Today!
Learn more about this new client and this achievement of yet another big milestone by the FCLI team. A live interactive Q&A session will follow.
Date and time: Tuesday, April 2nd at 11 am ET / 8 am PT
Click here to register for the event >
About Full Circle Lithium Corp.
Situated in the epicenter of the largest EV buildout in North America, FCL's fully permitted lithium carbonate processing plant in the state of Georgia, USA combined with a complement of seasoned lithium experts, makes FCL a unique processor and manufacturer of lithium compounds. FCL is focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. As a complement to its lithium carbonate plant, FCL is focused on three complementary feedstock processing divisions: battery recycling from off-spec and end-of-life lithium-ion batteries, lithium mid-stream recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. Following on the Company's mantra of "the home of lithium science", FCL has also developed an innovative, patent-pending, battery fire extinguishing agent to address the increasing number of difficult to extinguish and hazardous lithium battery-based fires. 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 viability, effectiveness, safety and any potential production and commercialization related to the battery fire extinguishing agent which is at an early stage of testing and development, on receiving patent protection for this agent 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. 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.
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SOURCE Full Circle Lithium Corp.
