Full Circle Lithium Announces Upsize and Closing of First Tranche of Previously Announced Private Placement

About this update from Full Circle Lithium Corp

TORONTO, July 15, 2026 /CNW/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF) (FSE: K0Q), a leading U.S.-based manufacturer of lithium-ion battery fire extinguishing products, is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement financing (the "Offering"), originally announced on June 19, 2026. The Company is also pleased to announce that as a result of strong investor demand, it has increased the size of the Offering from 12,500,000 units of the Company (the "Units") to 20,000,000 Units for total gross proceeds of up to $8.0 million. Pursuant to the first tranche, the Company issued 8,570,000 Units at a price of C$0.40 per Unit for gross proceeds of approximately C$3,428,000. Closing of the second tranche of the Offering is expected to occur on or before July 31, 2026. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$0.70 for a period of 18 months from the date of issuance, subject to an acceleration provision if the Company's common shares trade at or above C$1.20 for ten consecutive trading days, in accordance with the terms previously announced by the Company. Net proceeds from the Offering are expected to be used to expand production capacity, inventory, sales and marketing initiatives for the Company's growing portfolio of FCL-X™  lithium-ion battery fire suppression products, as well as for general working capital. "We are extremely grateful for the continued confidence and strong support shown by both our existing shareholders and new investors," said Carlos Vicens, Chief Executive Officer of Full Circle Lithium. "The response to this financing has been exceptionally encouraging and reflects growing confidence in our strategy, our expanding commercial opportunities, and the increasing market demand for FCL-X™ . We sincerely thank our shareholders for their ongoing support as we continue to execute on our growth plans." Closing of the second tranche of the Offering is subject to certain customary conditions, including receipt of all necessary approvals, including satisfaction of the listing conditions of the TSX Venture Exchange (" TSXV "). The Offering may be closed in one or more additional tranches. In connection with the first tranche of the Offering, the Company paid cash finder's fees of approximately $17,500 and issued 48,125 finder warrants (the " Finder Warrants ") to certain arm's-length finders. Each Finder Warrant will entitle the holder to purchase one common share at a price of $0.40 for a period of eighteen months following the Closing Date.

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