TORONTO, May  01, 2023  (GLOBE NEWSWIRE) -- Full Circle Lithium Corp. (“Full Circle” or the “Corporation”) (TSX-V: FCLI) announces, in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”), that in connection with the completion of the reverse takeover of the Company (the “Transaction”) as described in the press release dated April 25, 2023, after completing the Transaction, Carlos Vicens now owns more than 10% of the issued and outstanding common shares of Full Circle (the “Full Circle Shares”) on a partially diluted basis.

Prior to completion of the Transaction, Mr. Vicens directly owned 7,050,000 common shares of Full Circle Lithium Inc. (“Old Full Circle”) shares, representing 13.86% of Old Full Circle shares on a partially diluted basis. After completion of the Transaction, Mr. Vicens holds, directly and indirectly, 7,107,000 Full Circle Shares, representing 10.40% of the Full Circle Shares on a partially diluted basis.

The Full Circle Shares acquired by Mr. Vicens pursuant to the Transaction will be held for investment purposes, and depending on market and other conditions, Mr. Vicens may from time to time in the future increase or decrease his respective ownership, control or direction over securities of the Company through market transactions, private agreements, or otherwise. As the number of Full Circle Shares owned or controlled, directly or indirectly by Mr. Vicens now exceeds 10% of the issued and outstanding Full Circle Shares on a partially diluted basis, in satisfaction of the requirements of the National Instrument 62-104 – Take-Over Bids And Issuer Bids and NI 62-103, an Early Warning Report for Mr. Vicens will be filed on the Company’s SEDAR profile at www.sedar.com.

About Full Circle Lithium Corp.

With a fully permitted lithium processing plant in Georgia, USA and a complement of experts, Full Circle is a lithium processor focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. Full Circle is focused on three complementary battery material processing divisions: battery recycling from end-of-life lithium-ion batteries, lithium feedstock recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. Additional information regarding Full Circle Lithium Corp. is available on SEDAR at www.sedar.com under the Company's profile and its website www.fullcirclelithium.com.

For more information, please contact:

Carlos Vicens – CEO & Director

[email protected]

Forward-Looking Statements

This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including the risk factors discussed in the Filing Statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.