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Nano One Announces Closing of Rio Tinto Strategic Investment and Collaboration Agreement

VANCOUVER, BC / ACCESSWIRE / June 17, 2022 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) Nano One® Materials Corp. (“Nano One” or the “Company”), a clean technology company with patented processes for the low-cost, low-environmental-footprint production of high-performance cathode materials used in lithium-ion batteries, is pleased to announce the closing of the strategic equity investment and collaboration with Rio Tinto, a leading global mining and metals group, announced on June 9, 2022 (the “Transaction”). Rio Tinto has made a capital investment of US$10 million and the two companies have entered into a collaboration agreement (“CA”) under which they will work together to explore and assess opportunities to further drive localization of the channel value of lithium-ion batteries, particularly in Quebec, and will support the acceleration of the commercialization of Nano One’s patented cathode technology.

Investment and collaboration

Rio Tinto Western Holdings Limited, a subsidiary of Rio Tinto, has purchased, by way of private placement, 4,643,148 common shares (“Shares”) of Nano One at a price of C$2.70 per share for a total investment in Nano One US$10 million, equivalent to approximately CAN$12,536,500. The shares issued under the private placement represent approximately 4.9% of the currently issued and outstanding shares of Nano One.

The CA extends to matters that include a study of Rio Tinto’s battery metal products, including iron powders from the Rio Tinto Fer et Titane plant in Sorel-Tracy, Quebec, as raw material for production of Nano One cathode materials. Rio Tinto will bring the know-how of its Critical Minerals and Technology Centre, which has developed unique expertise in the mining and processing of critical minerals such as lithium and scandium, as well as minerals from Canada, the United States and other international sources. . Rio Tinto will also collaborate on the technical and commercial issues necessary for the development, design, construction and operation of the cathode production facilities.

Nano One has issued Rio Tinto 1,000,000 non-transferable share purchase warrants (a “Warrant”) in consideration for their technical and support services pursuant to the CA. Each warrant will entitle Rio Tinto to purchase one share at an exercise price of CA$4.00, exercisable until June 16, 2023.

The Company intends to use this investment for technology and supply chain development, commercialization, Nano One’s acquisition of the Candiac plant in Quebec (announced May 25, 2022 pending completion), its conversion to One-Pot lithium iron phosphate (LFP) and the industrial scale piloting of other Nano One CAM technologies and for working capital purposes. All securities issued under the CA are subject to a restricted hold period of four months and one day under applicable Canadian securities laws.

Concurrent with the closing of the private placement and the CA, the Company has entered into an investor rights agreement with Rio Tinto pursuant to which the Company has granted Rio Tinto a right to participate in any future equity financing in order to maintain its participation in the pro rata until June 16 at the latest. , 2027; and Rio Tinto has agreed to a freeze on securities disposals and a standstill for a period of 12 months from the closing date, subject to certain exemptions.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law and may not be offered or sold in the United States or to US Persons (as defined in the US Securities Act) unless registered under the US Securities Act and applicable state securities laws or exemption from such registration is available.

About Nano One

Nano One® Materials Corp (Nano One) is a clean technology company with a patented, scalable, low-carbon industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicles, energy storage, consumer electronics and next-generation batteries as part of the global push towards a zero-emission future. Nano One’s One-Pot process, coated nanocrystalline materials and Metal to Cathode Active Material (M2CAM®) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint . Nano One has received funding from various government programs and the current “Scaling of Advanced Battery Materials Project” is supported by Sustainable Development Technology Canada (SDTC) and the Province of British Columbia’s Innovative Clean Energy (ICE) Fund. For more information, please visit www.nanoone.ca

Changing how the world is doing battery materials

About Rio Tinto

Rio Tinto is a mining and metallurgical company operating in 35 countries around the world that produces the materials essential to human progress. Its goal is to help create a more sustainable future, from partnering in the development of technology that can make the aluminum smelting process entirely free of direct GHG emissions, to providing the world with the materials it needs. needs – like copper and titanium – to build a new low-carbon economy and products like electric vehicles and smartphones.

Rio Tinto has a long history in Quebec, Canada, where it operates major aluminum, iron and titanium businesses. Rio Tinto is building a leading battery materials business, with three lithium projects under development in the United States, Argentina and Serbia.

Company Contact:

NanoOne:

Paul Guedes
info@nanoone.ca
(604) 420-2041

Media Contact:

Chelsea Nolan
Antenna group for Nano One
nanoone@antennagroup.com
(646) 854-8721

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements regarding: the closing of the pending acquisition of the Candiac facility in Quebeak; the development of technology, supply chains and plans for the construction and operation of cathode production facilities; fruitful collaboration with Rio Tinto; and the execution of the Company’s future business strategy, all of which depend on partnerships, support and grants and the commercialization of the Company’s technology and patents. Generally, forward-looking information can be identified by the use of terms such as “believe”, “expect”, “anticipate”, “plan”, “intend”, “continue”, ” estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, ‘target’, ‘goal’, ‘focus’, ‘build’, ‘commit’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results” will occur. Forward-looking statements are based on management’s current opinions and estimates as of the date such statements are made are not, and cannot be, guarantees of actual results. or future events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company are materially different from those expressed or implied p ar such forward-looking statements or such forward-looking statements. – forward-looking information, including, but not limited to: the closing of the pending acquisition of the Candiac plant in Quebec; the development of technology, supply chains and plans for the construction and operation of cathode production facilities; successful collaboration with Rio Tinto, execution of the Company’s future business strategy; any future collaborations that may occur with miners, OEMs or others; the Company’s ability to achieve its stated objectives, the commercialization of the Company’s technology and patents; and other risk factors as identified in Nano One’s MD&A and Annual Information Form dated March 28, 2022, both for the year ended December 31, 2021, and recent securities filings companies which are available on www.sedar.com. Although the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information, there may be other factors that cause the results are not those anticipated, estimated or intended. . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company undertakes no obligation to update any forward-looking statements or forward-looking information incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

THE SOURCE: Nano One Materials Corp.

See the source version on accesswire.com:
https://www.accesswire.com/705515/Nano-One-Announces-Closing-of-Rio-Tinto-Strategic-Investment-and-Collaboration-Agreement

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