Full Circle Lithium closes $5.14M private placement

Full Circle Lithium Corp. (TSXV: FCLI)(OTCQB: FCLIF)(FSE: K0Q) has closed a non-brokered private placement, issuing 12,853,750 units at $0.40 per unit for total gross proceeds of $5,141,500, according to a company statement.

The offering closed in two tranches. The first tranche closed on July 15, 2026, and the second tranche closed with 4,281,250 units issued for additional gross proceeds of $1,712,500. The offering was oversubscribed relative to the company's initially announced target of $5,000,000.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one additional common share at C$0.70 for 18 months from the date of issuance. An acceleration provision applies if the company's shares trade at or above C$1.20 for ten consecutive trading days.

The company paid cash finder's fees of approximately $188,167.50 and issued 468,300 finder warrants, each exercisable at $0.40 per share for 18 months. The finder warrants will not be listed on the TSX Venture Exchange or any other exchange.

Net proceeds are intended for expanding production capacity, inventory, and sales and marketing for the company's FCL-X lithium-ion battery fire suppression products, as well as for general working capital.

All securities issued are subject to a statutory hold period of four months and one day from issuance, along with a contractual transfer restriction of 12 months from the date of issuance.

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