Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or the “Company”), is pleased to announce that the company is closing a second tranche of the non-brokered private placement for up to 10,000,000 units of the Company (“Units”) at $0.15 per Unit. Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable for one Share at a price of $0.20 per Share for the two years following the issuance of the Warrant.
The Company has raised gross proceeds of $131,750.10 in this second tranche of the private placement, and all securities issued under this second tranche are subject to a four-month hold period which expires on May 12, 2019. The private placement is subject to final acceptance by the TSX Venture Exchange; conditional acceptance was granted on December 3, 2018.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical metal company with a patented process for the recovery of metals from lithium-ion batteries such as cobalt, lithium, nickel, manganese, and aluminum. Using a novel combination of reagents and unit operations, AMY can provide 100% extraction of cathode metals at battery grade purity. RecycLiCo Battery Materials aims to capitalize on its patent pending technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries (Please see the Company’s Dec 14, 2018 Business Plan (“CBP”) for further details).
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.