Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMI” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4), is pleased to announce that the Company intends to complete a non-brokered private placement for gross proceeds of up to $200,000 by way of a unit offering at a price of $0.18 per unit (the “Offering”). Each unit will consist of one common share of AMI and one common share purchase warrant. Each warrant will be exercisable for one common share at a price of $0.25 per common share for a period of two years from the date of closing of the Offering.
The proceeds will be primarily used for general working capital and ongoing research.
All securities issued pursuant to the Offering will be subject to resale restrictions for a period of four months from the closing date. This Offering is subject to the approval of the regulatory authorities and finders’ fees may be paid in accordance with the TSX Venture Exchange policies.
AMI has been advised by Kemetco that the Company’s patent application is on track to be filed before November 10, 2017.
ABOUT RecycLiCo Battery Materials
RecycLiCo Battery Materials is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium-ion rechargeable batteries.
Interest in the Company’s patented process has adjusted the focus of RecycLiCo Battery Materials toward the examination of applying its patented technology for other purposes and materials. RecycLiCo Battery Materials aims to capitalize on its patented technology and proprietary know-how to become and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese.
To review The Most-Lucrative Niche in Cobalt Market article on AMI by Stockhouse please view here.
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.