Mr. Carlos Vicens reports

FULL CIRCLE LITHIUM ANNOUNCES UPSIZE AND CLOSING OF FIRST TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

Full Circle Lithium Corp. has closed the first tranche of its previously announced non-brokered private placement financing, 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 12.5 million units of the company to 20 million units for total gross proceeds of up to $8-million.

Pursuant to the first tranche, the company issued 8.57 million units at a price of 40 cents per unit for gross proceeds of approximately $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 70 cents 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 $1.20 for 10 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. The offering may be closed in one or more additional tranches.

In connection with the first tranche of the offering, the company paid cash finders' fees of approximately $17,500 and issued 48,125 finder warrants to certain arm's-length finders. Each finder warrant will entitle the holder to purchase one common share at a price of 40 cents for a period of 18 months following the closing date.

Certain insiders of the company subscribed to the offering for an aggregate of 1,457,500 units. This issuance of units to the insiders constitutes a related party transaction, as such term is defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to Section 5.5(a) and Section 5.7(a) of MI 61-101, on the basis that the participation in the offering by insiders does not exceed 25 per cent of the fair market value of the company's market capitalization. The 1,457,500 units subscribed for by insiders are subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange.

All securities issued pursuant to the first tranche are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and the policies of the TSX-V. The securities are also subject to a contractual restriction on transfer for 12 months from the date of issuance.

About Full Circle Lithium Corp.

Full Circle Lithium is a U.S.-based manufacturer of sustainable solutions for the lithium-battery safety sector. Its flagship product innovation, FCL-X, is a proprietary, non-hazardous, water-based fire-extinguishing agent designed specifically to combat the growing threat of lithium-ion-battery fires. Backed by a world-class technical team, Full Circle Lithium is committed to delivering safe, effective and environmentally responsible fire mitigation technologies.

We seek Safe Harbor.