Mr. Dan Blondal reports

NANO ONE ANNOUNCES MR. ALEX HOLMES AS COO

Nano One Materials Corp. has appointed Alex Holmes as chief operating officer.

"Alex is a seasoned and trusted leader with broad public markets experience," said chief executive officer Dan Blondal. "His expertise in business development, finance and lithium resource management will be an enormous asset to Nano One, particularly as we ramp up operations in support of multiple partnerships and business opportunities. Alex was selected for this role by the senior management team in a thorough search process; he is a great fit and we are delighted to have an executive of such calibre joining us here at Nano One. With this appointment we have filled a key role in driving our business transformation and welcome Alex as a partner to the executive team."

As COO, Mr. Holmes will help drive Nano One's business transformation and evolution by acting as a strategic partner to the CEO, president and chairman. He will be responsible for spearheading Nano One's business operations and optimizing its operational capabilities to ensure alignment with market growth opportunities and strategic initiatives. He will oversee business development, research, scale-up, investor relations, marketing, human resources and facilities to ensure that all functions are aligned with Nano One's business strategy, priorities and long-term plan.

"I am extremely excited to be joining the Nano One team. For a number of years I have admired the team's leadership as they evolved into a technology solutions leader in the cathode materials space," stated Mr. Holmes. "We have a unique opportunity to continue to disrupt the battery market with our strong platform of existing solutions, alongside our ongoing innovations focused on improving current and enabling future battery technology."

Mr. Holmes has spent more than 15 years as a senior executive with a number of public companies. Most recently, he served as the CEO of Plateau Energy Metals, a public company advancing a world-class hardrock lithium project in tandem with a uranium asset in Peru. Prior to this, Mr. Holmes co-founded a technology start-up, leading it from prototype to commercialization in a short period of time, and was a partner and co-founder of Oxygen Capital Corp. where he led the business development for all affiliated companies. He was instrumental in working with the companies to raise more than $250-million of capital to advance and grow the businesses. As head of business development for one of the Oxygen Capital companies, Mr. Holmes was instrumental in taking the company from initial asset acquisition through growth and advancement of the project from early engineering studies to project finance and ultimately commercial production. His prior experience also includes leading investment banking teams at two independent Canadian investment banks and raising capital for and advising on transactions for numerous companies. Mr. Holmes holds an MSc in investment management, graduating with distinction from the business school, City University of London.

Nano One has received proceeds of approximately $4,465,000 from the exercise of stock options and warrants since its last financial update dated Oct. 1, 2020. This brings the company's treasury to approximately $28-million with up to $4.25-million in non-dilutive non-repayable contributions from Canadian clean technology government programs. This further strengthens the company's financial position to execute on its business strategy. Nano One has also granted 1.54 million incentive stock options with an exercise price of $5.10 to directors and officers of the company.

About Nano One Materials Corp.

Nano One Materials has developed patented technology for the low-cost production of high performance lithium ion battery cathode materials used in electric vehicles, energy storage and consumer electronics. The processing technology enables lower cost feedstocks, simplifies production and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnered with global leaders in the lithium ion battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.

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