Full Circle Lithium Announces Closing of Private Placement
Rhea-AI Summary
Full Circle Lithium (OTCQB:FCLIF) closed its non-brokered private placement, issuing a total of 12,853,750 Units at $0.40 per Unit for gross proceeds of $5,141,500, exceeding its initially announced $5,000,000 target. The second tranche contributed 4,281,250 Units and $1,712,500.
Each Unit includes one common share and one-half warrant; each whole warrant is exercisable at C$0.70 for 18 months, with an acceleration clause if shares trade at or above C$1.20 for ten consecutive days. Net proceeds are expected to support production capacity, inventory, sales and marketing for the FCL-X™ lithium-ion battery fire suppression line and general working capital. The company paid approximately $188,167.50 in cash finder’s fees and issued 468,300 finder warrants. All securities carry a four-month-plus-one-day statutory hold and a 12‑month contractual transfer restriction.
Positive
- Private placement gross proceeds of $5,141,500 from 12,853,750 Units at $0.40
- Offering oversubscribed versus initially announced $5,000,000 target
- Unit structure adds potential future capital via warrants exercisable at C$0.70 for 18 months
- Net proceeds earmarked to expand FCL-X™ production, inventory, and sales and marketing
- Additional funding to support general working capital needs
Negative
- Issuance of 12,853,750 new shares plus attached warrants creates potential shareholder dilution
- Payment of approximately $188,167.50 in cash finder’s fees increases transaction cost
- Issuance of 468,300 finder warrants adds further potential equity overhang
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, ON / ACCESS Newswire / August 14, 2026 / Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV:FCLI)(OTCQB:FCLIF)(FSE:K0Q), a leading U.S.-based manufacturer of lithium-ion battery fire extinguishing products, is pleased to announce the closing of its non-brokered private placement financing (the "Offering"), originally announced on June 19, 2026.
Pursuant to the second tranche closing, the Company issued 4,281,250 units (the "Units") at a price of
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
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
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
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: ir@fcl-x.com
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.
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