Ms. Teresa Piorun reports

RECYCLICO PROVIDES UPDATE ON ZENITH TRANSACTION

The TSX Venture Exchange has provided acceptance of the joint venture agreement between Recyclico Battery Materials Inc. and Zenith Chemical Corp.

Under the agreement, Recyclico and Zenith will enter into a 50-50 joint venture to build a 2,000-metric-tonne-per-year lithium-ion battery recycling plant in Taiwan. The plant, estimated to cost $25-million (U.S.), will use Recyclico's proprietary process to convert lithium-ion battery waste into lithium-ion battery cathode precursor, lithium hydroxide and other related products. As consideration for contributing half of the capital required, Zenith will hold a 50-per-cent interest in the joint venture. As consideration for contributing 40 per cent of the capital required and granting a licence for its technology, Recyclico will also hold 50 per cent of the joint venture.

As an incentive to enter the joint venture, Recyclico will receive a royalty on net product sales for the first eight years, while Zenith will receive four million Recyclico shares and six million share purchase warrants (which will not be exercisable until the 30th day following the date on which construction of the recycling plant is completed). The warrants will have a five-year term and an exercise price of 35 cents per share. All securities issued under the agreement will have a four-month hold period.

About Recyclico Battery Materials Inc.

Recyclico Battery Materials is a battery materials company specializing in sustainable lithium-ion battery recycling and materials production. Recyclico has developed advanced technologies that efficiently recover battery-grade materials from lithium-ion batteries, addressing the global demand for environmentally friendly solutions in energy storage. With minimal processing steps and up to 99 per cent extraction of lithium, cobalt, nickel and manganese, the patented, closed-loop hydrometallurgical process turns lithium-ion battery waste into battery-grade cathode precursor, lithium hydroxide and lithium carbonate for direct integration into the remanufacturing of new lithium-ion batteries.

We seek Safe Harbor.