VANCOUVER, BC and TOKYO, JAPAN / ACCESSWIRE / October 5, 2023 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB)(TSE:5713)

Nano One® Materials Corp. ("Nano One" or the "Company"), a clean technology company with patented processes for the sustainable production of lithium-ion battery cathode materials, is pleased to announce the closing of the strategic equity investment and collaboration with Sumitomo Metal Mining Co. Ltd ("SMM", together with Nano One, the "Companies"), a leading vertically integrated miner, refiner and producer of cathode active materials ("CAM"), announced on September 25, 2023. SMM made an equity investment of C$16,879,949.85 and the Companies entered into a collaboration agreement (the "CA") under which they will work together to accelerate the commercial production of lithium iron phosphate ("LFP"), CAM and nickel-rich CAM chemistries, such as lithium nickel manganese cobalt oxide ("NMC").

Investment and Collaboration
SMM purchased by way of private placement, 5,498,355 common shares (the "Shares") of Nano One at a price of C$3.07 per share for a total investment into Nano One of C$16,879,949.85 (the "Private Placement"). The Shares issued under the Private Placement equate to approximately 5% of the current issued and outstanding Shares of Nano One.
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