Full Circle Lithium plans $5M private placement at $0.40 per unit

Full Circle Lithium Corp. (TSXV: FCLI) (OTCQB: FCLIF) (FSE: K0Q) announced a non-brokered private placement of up to 12,500,000 units priced at $0.40 per unit, targeting gross proceeds of up to $5,000,000, according to a company statement.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.70 per share for 18 months from the closing date. The company retains the right to increase the size of the offering.

The company may accelerate warrant expiry with 10 days' written notice if the closing price of its common shares equals or exceeds $0.90 for at least 10 consecutive trading days.

The offering is expected to close on or about June 30, 2026, subject to customary closing conditions. Full Circle Lithium intends to apply to list the unit shares and any warrant shares on the TSX Venture Exchange.

The company said proceeds are intended to expand production capacity, strengthen inventory levels, optimize supply chains, and support distribution partnerships for its FCL-X lithium-ion battery fire suppression product line.

Eligible finders may receive a cash commission of up to 7% of gross proceeds, along with compensation warrants equal to up to 7% of units sold to introduced investors, exercisable at $0.40 per share for 18 months from closing.

Securities issued will be subject to a statutory hold period of four months and one day under Canadian securities laws, plus a contractual transfer restriction of 12 months from closing. The offering is available to accredited investors in Canada under National Instrument 45-106 and in the United States under Rule 506(b) of Regulation D.

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