Li-Cycle, LG Chem and LG Energy Solution Enter Into Letter of Intent for Milestone Closed Loop Commercial Arrangement

TORONTO — Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced that it has entered into a manufacturing scrap supply and nickel sulphate off-take agreement non-binding letter of intent with LG Chem, Ltd. (“LGC”) and LG Energy Solution, Ltd. (“LGES”). Upon execution of the definitive commercial agreement related to the proposed supply and off-take arrangements, LGC and LGES will together make a $50 million investment to purchase common shares (“Common Shares”) of Li-Cycle, (each making a $25 million investment), pursuant to the terms of definitive subscription agreements effective today. Read More