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TORONTO, June 05, 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 and proven technical team and a fully permitted lithium processing plant in Georgia, is pleased to provide an update regarding the Company’s rapid progress in installing its first modular demonstration lithium extraction and processing plant (the “FCL Demo Plant”) for a multinational chemical company (“ChemicalCo1”) at one of its specialty chemical plants in the USA. Please refer to the news release date May 10, 2023 “Full Circle Lithium Installing Lithium Recycling Demo Processing Plant at Multinational Chemical Company’s Site” for further information.
Key equipment containing the Company’s proprietary lithium extraction and processing technology (or “LEP” technology) is being shipped to ChemicalCo1’s site (For pictures of the FCL Demo Plant, please see www.fullcirclelithium.com under Photo Gallery).
Initial site review and civil/mechanical engineering design work have commenced at the site, and all site preparation and interconnections to FCL’s tanks and other equipment already shipped and on site are being completed. FCL will also be shipping its LEP control module to manage the FCL Demo Plant on-site and remotely from the control center at the Georgia plant once in operation.
“This has been a highly technical process and we are ecstatic to now be at this stage,” said Mr. Carlos Vicens, Founder, CEO & Director of FCL. “It has taken an enormous amount of work from our entire team to be where we are today. There are a lot of moving parts, everything is now coming together and we are looking forward to having our Demo Plant installed and commissioned in a very short period of time.”
The purpose of the FCL Demo Plant is to demonstrate at a large scale and under industrial conditions, using FCL’s LEP technology, the Company’s ability to extract and process ChemicalCo1’s lithium that is lost in the manufacturing process and to produce a lithium product of sufficient purity and that meets all specifications for purchase and direct use by ChemicalCo1. Given its modular design, the FCL Demo Plant can be expanded into an operating commercial plant. Once in full production, the modular FCL commercial plant will be designed for an initial capacity of 500 tonnes of lithium carbonate equivalent per annum, and capacity can be expanded as required.
Through extensive testing the FCL LEP technology has proven highly successful in extracting lithium over a large number of cycles. The Company has built and is operating large-scale equipment for commercial-scale production of its LEP technology.
The FCL Demo Plant and FCL LEP technology are environmentally focused processes using minimal reagents. FCL is aligned with the sustainability and cost objectives of its customers, communities and governmental infrastructure initiatives.
Full Circle Lithium Corp.
Carlos Vicens – CEO & Director
Phone: (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.
This news release contains forward-looking statements within the meaning of securities legislation in the United States and 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”, “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, 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 demo plant functioning as expected to meet client product specifications, final agreement with client, and environmental 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.