Latest news with #lithiumIonBattery
CBS News
15 hours ago
- General
- CBS News
Protest in Queens over lithium-ion battery farm proposed for St. Albans
A Queens community launched a protest Saturday against plans to build a lithium-ion battery farm in their neighborhood. Residents opposing NineDot's proposal for a battery storage facility in St. Albans are concerned about its proximity to homes, a hospital and a welding shop. It's one of four battery farms planned for southeast Queens, according to residents. Demonstrators started marching at 10 a.m. on Linden Boulevard in St. Albans, with the message these battery storage facilities don't belong in their neighborhoods. Queens residents protest lithium-ion battery farms The Queens protesters say safety concerns are top of mind. The proposed site at the corner of 180th Street and Linden Boulevard is across from St. Albans Veterans Hospital and next to a welding shop, where flammable equipment is used, they said. The site was previously a gas station with underground gas tanks left in the ground for decades, according to neighbors. NineDot, a Brooklyn-based clean energy developer, says it has dozens of similar projects in the works across the New York metropolitan area. Like in Queens, neighborhoods across New York City, including in Brooklyn, have been fighting back against these kinds of plans. NineDot claims it is safe to live next to or near these sites and that they are certified by FDNY.
National Post
2 days ago
- Business
- National Post
Li-Cycle Receives Cease Trade Order from Ontario Securities Commission
Article content TORONTO — Li-Cycle Holdings Corp. (OTC Pink Markets: LICYQ) ('Li-Cycle' or the 'Company'), a leading global lithium-ion battery resource recovery company, announced that, after close of markets on June 5, 2025, the Company received a cease trade order ('CTO') issued by the Ontario Securities Commission ('OSC') as a result of the Company's failure to file periodic disclosures required by Ontario securities legislation. Article content These disclosures include the interim financial statements, and management's discussion and analysis relating to such interim financial statements, for the period ended March 31, 2025, and certification of the foregoing filings as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings. Article content Article content The CTO prohibits any person or company from trading, directly or indirectly, in any security of the Company in Ontario and each other jurisdiction of Canada that has a statutory reciprocal order provision, except in accordance with the conditions that are contained in the CTO, for as long as the CTO remains in effect. Article content A beneficial security holder of Li-Cycle who is not, and was not an insider or control person of the Company at the date of the CTO may sell securities of Li-Cycle acquired before the date of the CTO, if both of the following apply: Article content the sale is made through a 'foreign organized regulated market' (or 'FORM'), as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Article content Li-Cycle's common shares are currently quoted on the OTC Pink Markets, which generally does not meet the FORM criteria. Article content As previously disclosed, on May 14, 2025, Li-Cycle and its subsidiaries in North America sought and obtained from the Ontario Superior Court of Justice (the 'Court') an order (the 'Initial Order') providing them with creditor protection pursuant to Canada's Companies' Creditors Arrangement Act (the 'CCAA'). On May 15, 2025, the CCAA proceedings were recognized, and immediate stays of proceedings entered, by the United States Bankruptcy Court for the Southern District of New York pursuant to Chapter 15 of the United States Bankruptcy Code. Article content Given the ongoing CCAA proceedings and the Initial Order, as amended and restated on May 22, 2025, Li-Cycle has determined that it does not currently intend to devote additional time or financial resources towards its public disclosure obligations in Canada and the United States. Article content The Company's common shares are expected to remain qualified to trade on the OTC Pink Markets for 180 days from the period end date of its most recently filed Annual Report on Form 10-K, which was for the period ended December 31, 2024. As Li-Cycle does not currently intend to file disclosures required by the U.S. Securities and Exchange Commission ('SEC'), the Company expects it will be moved from the OTC Pink Markets to the OTC Expert Markets on or around June 30, 2025, pursuant to SEC Rule 15c2-11. Article content Holders of Li-Cycle securities are urged to consult with their own investment advisors or legal counsel regarding the implications of the CTO. Article content A copy of the CTO can be found on SEDAR+ at Additional information regarding the CCAA proceedings is available on the website of Alvarez & Marsal Canada Inc., the Court-appointed monitor of the Company during the CCAA proceedings, at About Li-Cycle Holdings Corp. Article content Li-Cycle (OTC Pink Markets: LICYQ) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle's mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. For more information, visit Article content Forward-Looking Statements Article content Certain statements contained in this press release may be considered 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as 'believe', 'may', 'will', 'continue', 'anticipate', 'intend', 'expect', 'should', 'would', 'could', 'plan', 'potential', 'future', 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include but are not limited to statements about: the Company's expectation that its common shares will remain qualified to trade on the OTC Pink Markets for 180 days following December 31, 2024, and that its common shares will be moved from the OTC Pink Markets to the OTC Expert Markets on or around June 30, 2025 pursuant to SEC Rule 15c2-11. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding the Company's current and future liquidity and financial resources and the Company's CCAA process. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements. Article content These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle's current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Article content Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the risks and uncertainties related to Li-Cycle's business are described in greater detail in the section titled 'Part I – Item 1A. Risk Factors' and 'Part II – Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation' in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC and the Ontario Securities Commission in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement. Article content Article content Article content Article content Article content Contacts Article content Investors & Media Article content Article content Investors: Article content Article content Article content
Associated Press
24-05-2025
- Automotive
- Associated Press
Battery X Metals Advances Development of Next-Generation Battery Rebalancing Technology for the #2 Out-of-Warranty Electric Vehicle in the United States
News Release Highlights: X Metals launches rebalancing development for the #2 best-selling out-of-warranty EV in the U.S. - the Nissan Leaf - with over 114,000 eligible vehicles in the U.S. alone. X Metals initiates hands-on collaboration with Factor E Motors to advance connector port development and validate rebalancing SOPs using real-world Nissan Leaf battery pack. X Metals plans strategic expansion of rebalancing capabilities to additional high-volume EV models approaching or at the end of manufacturer warranty coverage. VANCOUVER, BC / ACCESS Newswire / May 23, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW,WKN:A40X9W)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces that, further to its news release dated May 9, 2025, its wholly-owned subsidiary, Battery X Rebalancing Technologies Inc. ('Battery X Rebalancing Technologies') has expanded the development of its patent-pending lithium-ion battery rebalancing software and hardware system to include the development of functionality for the Nissan Leaf, the second most common out-of-warranty electric vehicle model in the United States. Pioneering Next-Generation Technologies to Support Lithium-Ion Battery Longevity Battery X Rebalancing Technologies is a development-stage technology company at the forefront of the energy transition, supporting the electric vehicle (EV) revolution and developing innovative technologies to extend the lifespan of lithium-ion and EV batteries. Its mission is to extend lithium-ion and EV battery longevity. The expanded functionality development builds on the Company's news release dated May 2, 2025, announcing delivery of Battery X Rebalancing Technologies' second-generation prototype rebalancing machine ('Prototype 2.0"). Prototype 2.0 represents a significant advancement in Battery X Rebalancing Technologies' patent-pending rebalancing technology and introduces a range of enhancements from its predecessor, including advanced diagnostics to assess battery health, patent-pending cell balancing functionality to extend battery life, a compact and user-friendly design for improved field operability, and expanded technical features such as integrated testing tools and connectivity ports developed to support future commercial deployment on multiple EV models. The expanded functionality development also builds on the Company's previously disclosed news release dated May 9, 2025, which announced that Battery X Rebalancing Technologies had entered into a non-commercial, collaborative scope of services agreement (the 'Factor E Agreement') with Factor E Motors Ltd. ('Factor E Motors'), an automobile service centre based in Vancouver, BC, that specializes in servicing out-of-warranty Tesla vehicles. The Factor E Agreement is intended to advance Battery X Rebalancing Technologies' patent-pending lithium-ion battery rebalancing software and hardware capabilities, with an initial focus on Tesla Model 3 and Model X battery packs currently in Factor E Motors' possession. Expanded functionality is being developed using a Nissan Leaf battery pack acquired from an arm's length third party at a value of $1,120. Battery X Rebalancing Technologies will collaborate with Factor E Motors to conduct comprehensive pre- and post-rebalancing diagnostics, assist with the execution of the rebalancing process, and support the development of connector ports, with an initial focus on the Nissan Leaf model. This initiative is intended to refine and validate standard operating procedures (SOPs) for future commercial applications and to further advance Battery X Rebalancing Technologies' proprietary battery rebalancing technologies. The Problem: Rising EV Adoption Presents New Battery Lifecycle Challenges In 2024, global EV sales reached approximately 17.1 million units, representing a 25% increase from 2023¹. With cumulative global EV sales from 2015 to 2023 totaling an estimated over 40 million units², a significant share of the global EV fleet is expected to exit warranty coverage over the coming years. By 2031, nearly 40 million electric, plug-in hybrid, and hybrid vehicles worldwide are anticipated to fall outside of their original warranty coverage3,4. This projection is based on current EV adoption figures and standard industry warranty terms, and underscores a growing risk for EV owners facing battery degradation, reduced capacity, and costly replacement requirements5. As the global EV fleet continues to expand, the demand for technologies that extend battery life, reduce long-term ownership costs, and support a sustainable transition to electric mobility is increasing. The Solution: Pioneering Next-Generation Technologies to Support Lithium-Ion Battery Longevity Battery X Rebalancing Technologies' proprietary software and hardware technology aims to address this challenge by extending the lifespan of EV batteries. This innovation is being developed with the aim to enhance the sustainability of electric transportation and the goal to provide EV owners with a more cost-effective, environmentally friendly ownership experience by reducing the need for costly battery replacements. Battery X Rebalancing Technologies' rebalancing technology, validated by the National Research Council of Canada ('NRC'), focuses on battery cell rebalancing. The NRC validation demonstrated the technology's ability to effectively correct cell imbalances in lithium-ion battery packs, recovering nearly all lost capacity due to cell imbalance. The validation was conducted on battery modules composed of fifteen 72Ah LiFePO₄ cells connected in series. The cells were initially balanced to a uniform state of charge (SOC), with a measured discharge capacity of 71.10Ah. In the validation test, three of the fifteen cells were then artificially imbalanced-one cell was charged to a 20% higher SOC, and two cells were discharged to a 20% lower SOC-resulting in a reduced discharge capacity of 46.24Ah, following rebalancing using Battery X Rebalancing Technologies' rebalancing technology. These advancements establish Battery X Rebalancing Technologies as a participant in lithium-ion and EV battery solutions, aiming to tackle the critical challenges of capacity degradation of battery packs and expensive replacements. By extending the lifecycle of battery materials within the supply chain, Battery X Rebalancing Technologies aims to support the energy transition and promote a more sustainable future. Significance of the Nissan Leaf in the Out-of-Warranty Electric Vehicle Market The Nissan Leaf holds a significant position in the global electric vehicle market. Since its launch in December 2010, the Leaf has sold more than 650,000 units worldwide6, making it one of the most widely adopted electric vehicles to date. In the United States, the Nissan Leaf was the #2 best-selling plug-in EV between 2010 and 2017, with 114,808 units sold during that period7. Given that the standard EV battery warranty in the U.S. covers at least 8 years or 100,000 miles8, Nissan Leafs sold during that 2010-2017 window will be out of the standard warranty as of 2025. This represents a substantial and growing segment of aging EVs in need of affordable and effective battery rebalancing solutions. Looking ahead, Battery X Rebalancing Technologies plans to expand its battery rebalancing solutions to address both current and future high-volume electric vehicle models in the out-of-warranty market. The Company aims to support models that are already beyond their original warranty coverage, as well as those approaching the warranty threshold in the coming years. This strategic expansion is intended to position Battery X Rebalancing Technologies to serve a broader base of electric vehicle owners and service providers, supporting battery lifespan extension, improved affordability, and circular economy objectives. 1 Rho Motion - Global EV Sales 2024, 2 IEA Global EV Outlook 2024, 3 IEA, 4 U.S. News, 5 Recurrent Auto 6 Nissan Global Newsroom, 7 U.S. Department of Energy, 8 EnergyRight About Battery X Metals Inc. Battery X Metals (CSE:BATX) (OTCQB:BATXF) (FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable securities laws. These statements relate to the Company's objectives, strategies, and future plans, including the development, validation, and potential commercialization of proprietary software and hardware solutions for lithium-ion battery diagnostics and rebalancing, including the Company's second-generation Prototype 2.0. Specific forward-looking statements include, but are not limited to, statements regarding the expansion of rebalancing capabilities to support Nissan Leaf battery packs, the significance of the Nissan Leaf in the out-of-warranty EV market, the collaborative scope of services agreement with Factor E Motors and the actions undertaken by the parties to the agreement, including development of connector ports and SOPs, anticipated field operability and commercial deployment. Forward-looking statements also relate to the projected growth in the number of out-of-warranty EVs globally, the Company's plans to expand to additional EV battery models approaching or at the end of manufacturer warranty coverage, the ability of Battery X Rebalancing Technologies to deliver more affordable and effective rebalancing solutions to address battery degradation, and the broader goal of supporting battery lifespan extension, cost reduction, and circular economy objectives. These forward-looking statements reflect management's current expectations and assumptions as of the date of this release and are subject to a variety of known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or events to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to: the ability of the Company to successfully complete testing and validation of Prototype 2.0; technical challenges or limitations with respect to rebalancing different EV battery platforms; the availability of commercial contracts or customer adoption; failure to achieve commercial scalability; reliance on third-party collaborations such as Factor E Motors; changes in consumer demand or EV adoption trends; regulatory or supply chain disruptions in the battery or electric vehicle sectors; and regulatory, legal, and operational challenges. Battery X Metals assumes no obligation to update or revise any forward-looking statements to reflect events, circumstances, or changes in expectations, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements and are encouraged to refer to the Company's public filings on SEDAR+ for further risk disclosures. SOURCE: Battery X Metals press release
Yahoo
17-05-2025
- Automotive
- Yahoo
Drone left charging causes Mountain View vehicle blaze
(KRON) — The Mountain View Fire Department says a drone left charging on the passenger seat of a pickup truck led to a Friday afternoon blaze that injured one man and caused thousands of dollars in damage. Berkeley electric skateboarder stabs victim in road rage incident: BPD MVFD said its crews responded to the incident in the 1400 block of Wildrose Way at 1:37 p.m. mere minutes after being alerted then quickly extinguished the interior car fire. Paramedics said one man was treated for minor burns at the scene but declined further care at a local hospital. Mountain View Fire confirmed the fire did not spread to nearby residences. 'The cause of the fire was determined to be related to the drone's lithium-ion battery charging system,' said MVFD in a news release. The damage to the vehicle and the drone is estimated at $10,000. Mountain View Fire is using the incident to remind others to take the following safety precautions when charging lithium-ion batteries: • Purchase and use devices that are listed by a qualified testing laboratory.• Always follow the manufacturer's instructions.• Only use the battery that is designed for the device.• Do not use aftermarket or generic batteries or chargers.• Only use the charging cord that came with the device.• Do not continue charging the device or the device's battery after it is fully charged.• Store batteries away from anything that can catch fire.• Do not charge a device overnight.• Do not charge a device near exits. Fire crews released the scorched vehicle back to the owner before leaving the location. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
National Post
15-05-2025
- Business
- National Post
Li-Cycle Obtains Creditor Protection Under CCAA and Chapter 15
Article content Li-Cycle expects to commence a formal sale and investment solicitation process ('SISP'), which is a continuation of its efforts to seek buyers for its business or assets Article content TORONTO — Li-Cycle Holdings Corp. (OTCQX: LICYF) ('Li-Cycle' or the 'Company'), a leading global lithium-ion battery resource recovery company, today announced that the Company and its subsidiaries in North America (collectively, the 'Li-Cycle Group') have sought and obtained from the Ontario Superior Court of Justice (the 'Court') an order (the 'Initial Order') providing them with creditor protection pursuant to Canada's Companies' Creditors Arrangement Act (the 'CCAA'). As part of the Initial Order, the Court ordered, among other things, a stay of proceedings in favor of the Li-Cycle Group for an initial period to and including May 22, 2025 (the 'Stay Period') and the appointment of Alvarez & Marsal Canada Inc. as monitor of the Li-Cycle Group during the CCAA proceedings (in such capacity, the 'Monitor') to assist the Company with its restructuring efforts and to report to the Court. Article content The Company's U.S. subsidiaries (including Li-Cycle Inc., which owns the Company's Spokes in Arizona, Alabama and New York, and Li-Cycle North America Hub, Inc., which owns the Company's Rochester Hub project) have commenced proceedings before the United States Bankruptcy Court for the Southern District of New York (the 'U.S. Bankruptcy Court') under Chapter 15 of the U.S. Bankruptcy Code ('Chapter 15 Proceedings') for recognition of the CCAA proceedings as a 'foreign main proceeding.' The U.S. Bankruptcy Court has imposed a broad stay, for the benefit of the Company's U.S. subsidiaries, barring the commencement of legal action, the enforcement of remedies, any act to obtain possession of their property in the United States or to exercise control over such property, and other similar conduct. Article content As part of the CCAA proceedings, the Li-Cycle Group expects to conduct a court-supervised sale and investment solicitation process (the 'SISP'), which will be a continuation of its previously disclosed efforts to seek buyers for its business or its assets. Article content The Li-Cycle Group has entered into a term sheet with an affiliate of Glencore Canada Corporation ('Glencore'), the Company's largest secured creditor, for a DIP Facility. The DIP Facility consists of a credit facility of up to a maximum principal amount of $10.5 million which is expected to be used to finance Li-Cycle's working capital requirements, including for the continued operation of its Germany Spoke, and to implement the restructuring contemplated in the CCAA proceedings, such as the pursuit of the SISP. The DIP Facility remains subject to approval by the CCAA Court. Article content Additionally, the Li-Cycle Group has entered into an equity and asset 'stalking horse' purchase agreement (the 'Stalking Horse Agreement') with Glencore. Glencore has agreed to a 'stalking horse' credit bid for at least $40 million for certain of Li-Cycle's subsidiaries and assets, including its Arizona Spoke, Alabama Spoke, New York Spoke, Germany Spoke, Rochester Hub project, and its intellectual property, as well as assumption of certain of its liabilities. The Stalking Horse Agreement remains subject to approval by the CCAA Court. Article content The Company's Germany Spoke is expected to have sufficient working capital (including through the DIP Facility) to continue operating during the CCAA proceedings. Li-Cycle is undertaking efforts to wind down certain of its European subsidiaries, with the exception of its operating businesses in Switzerland and Germany. The Company will also be winding down its subsidiaries in Asia. Article content As a result of the CCAA Proceedings, an event of default has occurred under Li-Cycle's loan agreement with the U.S. Department of Energy ('DOE'). Li-Cycle has not drawn down any funds under the DOE loan facility, as the Company has not satisfied the conditions precedent for the first advance. Article content The CCAA Proceedings have also caused an event of default under the Company's convertible notes, which are held by Glencore and Wood River Capital, LLC ('Wood River Capital'). Wood River Capital now would have, in the absence of the stay of proceedings, the right to require the redemption of its convertible notes. The event of default under the Company's convertible notes held by Glencore has resulted in an automatic acceleration such that the principal, interest and any make-whole premium due thereunder have become immediately due and payable. Article content As previously disclosed, the Company has been actively reducing its cost structure and seeking financing and strategic alternatives to fund its business. However, following a thorough review and after careful consideration of all available alternatives and in consultation with legal and financial advisors, the Company's Board of Directors, following receipt of the recommendation of the Company's Special Committee of independent directors, determined that it was in the best interests of the Company to commence the CCAA proceedings, with a view to pursuing the SISP and implementing one or more transactions with respect to its business and assets. Article content The Company's Board of Directors and management will remain responsible for the day-to-day operations of the Company under the general oversight of the Monitor during the CCAA proceedings. Article content The Initial Order provides the Company with, among other things, relief from certain reporting obligations under securities legislation. As a result of the commencement of Chapter 15 Proceedings, the Company will no longer qualify to trade on the OTCQX® Best Market and will be moved to the OTC Pink Markets effective May 15, 2025. Article content At the 'comeback' hearing before the CCAA Court on May 22, 2025, the Li-Cycle Group intends to seek, among other things, approval of the DIP Facility, the SISP and the Stalking Horse Agreement as a 'stalking horse' credit bid in the SISP and an extension of the Stay Period until a subsequent date to be determined. Article content Additional information regarding the CCAA proceedings is available on the Monitor's website at or by calling Alvarez & Marsal at 1-844-864-9548, or by emailing at LiCycle@ Documents relating to the restructuring process such as the Initial Order, the Monitor's reports to the Court, as well as other Court orders and documents shall also be published and made available on the Monitor's website. Article content About Li-Cycle Holdings Corp. Article content Li-Cycle (OTCQX: LICYF) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle's mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. Article content Forward-Looking Statements Certain statements contained in this press release may be considered 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as 'believe', 'may', 'will', 'continue', 'anticipate', 'intend', 'expect', 'should', 'would', 'could', 'plan', 'potential', 'future', 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include but are not limited to statements about: the expected court-supervised sale and investment solicitation process; the expected use of the DIP Facility; the expectation that the Company's Germany Spoke will have sufficient working capital (including through the DIP Facility) to continue operating during the CCAA proceedings; Li-Cycle undertaking efforts to wind down certain of its European subsidiaries, with the exception of its operating businesses in Switzerland and Germany; the Company winding down its subsidiaries in Asia; the transfer of the quotation of the Company's common shares to the OTC Pink Markets effective May 15, 2025; the terms of any resulting transactions with any such buyers of Li-Cycle's business or its assets, including the Stalking Horse Agreement with Glencore; and what the Company intends to seek at the 'comeback' hearing before the CCAA Court on May 22, 2025, including an extension of the Stay Period until a subsequent date to be determined. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding the working capital of the Company's operating businesses in Switzerland and Germany. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements. Article content These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle's current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Article content Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the risks and uncertainties related to Li-Cycle's business are described in greater detail in the section titled 'Part I – Item 1A. Risk Factors' and 'Part II – Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation' in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC and the Ontario Securities Commission in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement. Article content Article content Article content Article content Article content
