Warrant Exercise Proceeds Total $731,720
RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to announce that the Company issued 3,658,600 units of commons shares pursuant to warrant exercise at $0.20 per share receiving total proceeds of $731,720. The Company is in a solid financial position to move forward on the immediate goals as well as on going testing at Kemetco Research as follows:
- Recycling test results on lithium-ion battery materials from the US Department of Energy National Labs Project are expected shortly.
- The Company has applied for an initial grant from the Canadian Government for the Lithium-ion Battery Recycling Research Program.
- Management plans to meet with Battery Safety Solutions B.V. (“BSS”) early this year to discuss and finalize the Memorandum of Understanding (“MOU”) entered into on December 11, 2018.
- Kemetco will prepare a third US patent application in the first quarter of 2020 to optimize the Company’s battery recycling opportunity.
- The Company has met with and requested a Preliminary Economic Assessment and design proposal for a 3 tonne per day commercial demonstration plant from Kemetco Research utilizing the Company’s patented process.
The Company will continue Research and Development on battery materials received from lithium-ion battery related entities.
“These are the major milestones as we enter 2020,” said Larry Reaugh, CEO of AMY. “The AMY process is being recognized by major government labs, and key private sector players in the EV Battery markets, even as we continue to build our IP portfolio via the patent process. All of this creates momentum as we move toward a 3 tonne per day processing plant that will demonstrate the commercial potential of our process.”
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
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.