- Sales of FCL-X™ reach over US$300,000 through the past few weeks
- FCL agrees to sell non-core equipment for approximately US$1.5MM to assist with FCL-X™ manufacturing, marketing, and sales efforts
Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium-ion firefighting agent product manufacturer, reports that sales for the past few weeks of FCL-X™, in all of its product lines (FCL-X Pro, FCL-X Bulk and FCL-X Extinguisher), were over US$300,000. While these sales are non-recurring, it indicates a significant potential demand for FCL's proprietary and innovative products, which is uniquely designed to neutralize the reactions that cause lithium-ion battery fires.
Carlos Vicens, CEO, Founder and Director of FCL stated, "We are very pleased to see that we achieved meaningful non-recurring sales of FCL-X™ in all product lines in the past few weeks even though we have just begun our marketing and sales efforts, including signing up with US specialty fire safety distributor AEST Fire & Safety."
The public interest in FCL-X™ has started to develop and crystallize since our successful EV burn test results in October and the signing of the AEST Fire & Safety ("AEST") distribution agreement. FCL will continue to market and sell all its products (including newly developed products that are currently in research and development) globally and may pursue additional distribution agreements worldwide and, in the USA, provided these do not conflict with our AEST agreement.
FCL has signed an agreement to sell certain non-core equipment to an arm's length third-party for approximately US$1.5 million, which will be used to fund manufacturing, marketing, and sales of FCL-X™ and G&A. The closing is expected to occur later in November.
Following its year-end of October 31, and in accordance with its shareholder approved stock option plan, FCL's board granted annual incentive stock options ("Options") to key personnel, and to its directors and officers to acquire an aggregate of 2,050,000 common shares at $0.27 per share, for a period of 5 years, subject to standard vesting provisions.
