$LI-CYCLE (LICY.US)$ Closed an upsized $475-million loan fac...

$LI-CYCLE (LICY.US)$ Closed an upsized $475-million loan facility with the U.S. Department of
Energy ("DOE") to support development of the Company's Rochester Hub
project;

-- Completed Rochester Hub internal technical review under the proposed
mixed hydroxide precipitate ("MHP") scope and expects annual production
of up to approximately 8,250 tonnes of lithium carbonate and up to
approximately 72,000 tonnes of MHP;

-- Secured 100% off-take agreement with Glencore Ltd. for the MHP production
from the Rochester Hub on market terms;

-- Achieved strong year-over-year revenue growth of 79% to $8.4 million,
which is equal to the previous quarter's record revenue;

-- Lowered selling, general & administrative ("SG&A") expenses by 50%
year-over-year to $12.9 million, mainly due to the Company's cash
preservation initiatives;

-- Prioritizing full financing package to support construction restart at
the Rochester Hub and to satisfy requirements for first advance of the
DOE loan facility; and

-- Working to establish a self-sufficient and financially accretive Spoke
business through optimization initiatives and focus on Generation 3