Nano One Closes on $5 Million Sale of Vacant Land

VANCOUVER, BC / ACCESSWIRE / September 20, 2024 /

Highlights:

• On September 12, 2024 Nano One closed on the previously announced sale of vacant land in Candiac.

• Gross proceeds of $5,000,000 provides non-dilutive working capital without compromising growth strategy.

Land was part of Nano One's 2022 acquisition of Johnson Matthey in Candiac.

Vacant land was deemed unnecessary for growth needs.

Nano One Materials Corp. ("Nano One" or the "Company"), a clean technology company with a patented process for the low-cost, low-GHG production of lithium-ion battery cathode active materials (CAM), is pleased to announce that on September 12, 2024, the company closed on the sale of its vacant land in Candiac, Québec for gross proceeds of $5,000,000.

The land was part of Nano One's 2022 acquisition of Johnson Matthey Battery Materials Canada and as previously announced, the Company reached a definitive agreement on August 12, 2024 to sell the vacant lot. These non-dilutive funds will enhance the Company's treasury and growth strategy, while leveraging access to alternative sites with better utility infrastructure, improved constructability and room to expand well beyond 25,000 tpa of LFP capacity.

Nano One sold the land to DUROPAC, a flexible packaging leader for the food industry in Canada. With this acquisition, they will build new 70,000-square-foot headquarters, show room and distribution facilities. This expansion will enhance operations, support innovation in sustainable packaging, and meet growing customer demand.

The proceeds from the sale provides capital that supports the LFP cathode manufacturing facility on the remaining property in Candiac, Québec and the innovation hub in Burnaby, British Columbia. These existing facilities remain the launch pad for the Nano One's growth strategy and a clear path to first revenue and larger offtakes.

Carlo Valente, CFO, stated, "We are pleased to complete this sale as it provides working capital to support ongoing and anticipated activities, and it adds shareholder value without dilution. We welcome DUROPAC as our new neighbour as we continue to grow at our existing facility in Candiac."

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About Nano One
Nano One Materials Corp. (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. With strategic collaborations and partnerships, including automotive OEMs and strategic industry supply chain companies like Sumitomo Metal Mining, BASF, Umicore and Rio Tinto. Nano One's technology is applicable to electric vehicles, energy storage, and consumer electronics, reducing costs and carbon intensity while improving environmental impact. The Company aims to pilot and demonstrate its technology as turn-key production solutions for license, joint venture, and independent production opportunities, leveraging Canadian talent and critical minerals for emerging markets in North America, Europe, and the Indo-Pacific region. Nano One has received funding from Sustainable Development Technology Canada and the Governments of Canada and British Columbia.