Full Circle Lithium Signs Global Distribution Agreement For Its FCL-X™ Lithium-Ion Battery Fire Extinguishing Agent

Rhea-AI Summary

Full Circle Lithium Corp. (FCLI/FCLIF) has signed a global distribution agreement with US Fire Pump Company (USFP) for its FCL-X™ lithium-ion battery fire extinguishing agent in bulk form. This marks the company's second distribution agreement, focusing on marketing FCL-X™ Bulk across industrial, commercial, and emergency response settings globally.

USFP has already deployed and validated FCL-X™'s effectiveness in combating lithium-ion battery fires. The agreement grants USFP certain exclusive global distribution rights for a defined period, while FCL retains the right to market new products and pursue additional distribution agreements that don't conflict with existing arrangements.

Positive

• Secured global distribution agreement with established fire safety company USFP
• Product effectiveness already validated through actual deployment by distributor
• Maintains flexibility to pursue additional distribution agreements and market new products

Negative

• Exclusive distribution rights may limit company's direct market access
• Terms and financial impact of agreement not disclosed

• FCL signed its second distribution agreement, focused on FCL-X™ in bulk form with world renowned US Fire Pump, a USA based industrial fire solutions company
• US Fire Pump deployed and validated FCL-X™ unique effectiveness in fighting dangerous, toxic and hard to control lithium-ion battery fires

TORONTO, Dec. 20, 2024 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer, announces the signing of a global distribution agreement with US Fire Pump Company, LLC ("USFP"), marking another important milestone in the Company's efforts to commercialize its proprietary and innovative lithium-ion battery fire fighting agent FCL-X™ in all of its forms. This distribution arrangement will see USFP market FCL-X™ Bulk across industrial and commercial settings and in any emergency response setting globally.

"Protecting the lives of the public and fire industry personnel while limiting property damage is the primary mission of US Fire Pump," said Chris Ferrara, Founder & President of USFP. " I have been involved in the firefighting industry for more than 40 years as a Fireman and now leading USFP. With first-hand experience in deploying FCL-X™, I can say that the FCL-X™ fire suppression agent represents a unique and significant opportunity to serve the firefighting community in order to protect lives and property from this new and growing lithium battery hazard."

Carlos Vicens, CEO and Founder of FCL stated "USFP's reputation, commitment to excellence and global reach align perfectly with our mission to help in the protection against lithium-ion battery hazards worldwide. The FCL-X™ fire suppression agent is designed to mitigate the risks associated with lithium-ion battery fires, offering advanced technology tailored for efficient response. With this partnership, FCL aims to establish a robust global distribution network for FCL-X™ Bulk that enhances accessibility to this critical safety solution, ultimately safeguarding lives and property."

The distribution agreement with USFP focuses on the FCL-X™ Bulk product line, granting certain exclusive global distribution rights for a defined period. The Company retains the right to market any new products globally and may pursue additional distribution agreements worldwide and, in the USA, provided these do not conflict with any current distribution agreement already in place.

About US Fire Pump

Founded by firefighting veteran Chris Ferrara, US Fire Pump combines over 200 years of experience in design, manufacturing, marketing, and purchasing to deliver cutting-edge firefighting solutions. Driven by a mission to protect lives and minimize property damage, US Fire Pump was born from the need for innovative technology, leading to the development of the High Velocity Pump. The company also offers a comprehensive line of submersible pumps and essential supplemental fire equipment tailored for municipal and industrial fire professionals. With US Fire Pump's world class product offering, Chris was able to use the company's platform to return to his first passion, firefighting. US Fire Pump has the largest Emergency Response team and equipment fleet globally. Understanding that no two incidents are alike, and that they can happen simultaneously, US Fire Pump has made a conscience investment in emergency response assets. To date US Fire Pump has been contracted and responded successfully to over 300 emergency responses, including landfill fires, ship fires, rescue events, vapor suppression events, refinery and terminal fires as well as a wide array of other major emergency events. US Fire Pump's products, services and employees have all been "PROVEN IN THE HEAT OF BATTLE".

About Full Circle Lithium Corp.

FCL has developed an innovative lithium-ion battery fire-extinguishing agent - FCL-X™, to address the increasing number of difficult to extinguish and hazardous lithium-ion battery-based fires. A PCT patent application has been filed by the Company to protect its FCL-X™ invention. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and on its website www.fullcirclelithium.com.

For further information:
Full Circle Lithium Corp.
Carlos Vicens - CEO & Director
ir@fullcirclelithium.com
+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 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 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 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.

FAQ

What is the scope of Full Circle Lithium's (FCLIF) distribution agreement with US Fire Pump?

The agreement grants US Fire Pump certain exclusive global distribution rights for FCL-X™ Bulk product line across industrial, commercial, and emergency response settings worldwide.

Has FCL-X™ been tested in real-world applications by US Fire Pump?

Yes, US Fire Pump has already deployed and validated FCL-X™'s effectiveness in fighting lithium-ion battery fires.

Can Full Circle Lithium (FCLIF) still pursue other distribution agreements?

Yes, FCL retains the right to market new products globally and pursue additional distribution agreements that don't conflict with existing arrangements.

Is this Full Circle Lithium's first distribution agreement for FCL-X™?

No, this is FCL's second distribution agreement focused on FCL-X™ in bulk form.