无忧短视频

• Company receives waiver extensions from convertible note holders

TORONTO, ONTARIO (May 01, 2025) 鈥� 聽—  (OTCQX: LICYF) (鈥溛抻嵌淌悠碘�� or the 鈥淐ompany鈥�), a leading global lithium-ion battery resource recovery company, today announced certain business updates.

无忧短视频 previously disclosed that it had received waivers from the holders of its convertible notes, Glencore Canada Corporation (鈥淕lencore鈥�) and Wood River Capital, LLC (鈥淲ood River Capital鈥� and together with Glencore, the 鈥淐onvertible Note Holders鈥�) that permitted its common shares to trade on the OTCQX庐 Best Market (鈥淥TCQX鈥�) until April 30, 2025 (the 鈥淲aivers鈥�). The Convertible Note Holders extended the Waivers on April 30, 2025 to permit the Company鈥檚 common shares to continue to trade on the OTCQX as an eligible market under the terms of the convertible notes until 9:00 a.m. ET on Monday, May 5, 2025.

Regardless of the extended Waivers, 无忧短视频 requires additional financing to meet its obligations and repay its liabilities arising from the ordinary course of business operations when they become due in order to continue as a going concern. 无忧短视频鈥檚 special committee of independent directors has been evaluating financial and strategic alternatives for the Company, including in connection with the letter received from Glencore on March 14, 2025, setting forth Glencore鈥檚 interest in a potential transaction involving 无忧短视频. Despite such efforts, no actionable transaction in the best interests of the Company and its stakeholders has been identified to date. Considering the Company鈥檚 current circumstances, 无忧短视频 will need to significantly modify or terminate its operations and may need to dissolve and liquidate its assets under applicable insolvency laws or otherwise file for insolvency protection.

In light of the foregoing, 无忧短视频 is retaining Hilco Corporate Finance, LLC, a financial services company, and certain of its affiliates, to assist it in seeking buyers for its business or its assets, including the Company as a whole or any part. No assurances can be made as to whether any such buyers will be found, or as to the terms of any resulting transactions.

About 无忧短视频 Holdings Corp.

无忧短视频 (OTCQX: LICYF) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, 无忧短视频鈥檚 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 .

Forward-Looking Statements

Certain statements contained in this press release may be considered 鈥渇orward-looking statements鈥� 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 鈥渂elieve鈥�, 鈥渕ay鈥�, 鈥渨ill鈥�, 鈥渃ontinue鈥�, 鈥渁nticipate鈥�, 鈥渋ntend鈥�, 鈥渆xpect鈥�, 鈥渟hould鈥�, 鈥渨ould鈥�, 鈥渃ould鈥�, 鈥減lan鈥�, 鈥減otential鈥�, 鈥渇uture鈥�, 鈥渢arget鈥� 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 need to significantly modify or terminate 无忧短视频鈥檚 operations, dissolve or liquidate assets under applicable insolvency laws or otherwise file for insolvency protection; the efforts to seek buyers for 无忧短视频鈥檚 business or its assets, including 无忧短视频 as a whole or in any part; and the terms of any resulting transactions with any such buyers of 无忧短视频’s business or its assets. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding 无忧短视频鈥檚 funds and sources of liquidity; the timing and scope of any significant modifications or terminations to 无忧短视频鈥檚 operations; the purchase value of 无忧短视频鈥檚 projects, facilities and other assets; the feasibility and actionability of various financial and strategic alternatives for 无忧短视频; the timing, scope and cost of any dissolution, liquidation or insolvency; general economic conditions; currency exchange and interest rates; and inflation. 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.

These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of 无忧短视频鈥檚 current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of 无忧短视频鈥檚 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.

Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of 无忧短视频, and are not guarantees of future performance. 无忧短视频 believes that these risks and uncertainties include, but are not limited to, the following: 无忧短视频鈥檚 inability to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life lithium-ion batteries; 无忧短视频鈥檚 inability to develop the Rochester Hub and other future projects as anticipated or at all in a timely manner or on budget or that those projects will not meet expectations with respect to their productivity or the specifications of their end products; 无忧短视频鈥檚 history of losses and expected significant expenses for the foreseeable future as well as additional funds required to meet 无忧短视频鈥檚 liquidity needs and capital requirements in the future not being available to 无忧短视频 on acceptable terms or at all when it needs them; 无忧短视频鈥檚 ability to negotiate a strategic transaction with Glencore on acceptable terms, or at all; 无忧短视频鈥檚 estimated total addressable market; risk and uncertainties related to 无忧短视频鈥檚 ability to continue as a going concern; uncertainty related to the success of 无忧短视频鈥檚 cash preservation plan and related past and any possible further workforce reductions; 无忧短视频’s inability to attract, train and retain top talent who possess specialized knowledge and technical skills; 无忧短视频鈥檚 failure to oversee and supervise capital projects and obtain financing and other strategic alternatives; 无忧短视频鈥檚 ability to service its debt and the restrictive nature of the terms of its debt; 无忧短视频’s potential engagement in strategic transactions, including acquisitions, that could disrupt its business, cause dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; one or more of 无忧短视频’s current or future facilities becoming inoperative, capacity constrained or disrupted, or lacking sufficient feed streams to remain in operation; the potential impact of the pause in construction of the Rochester Hub on the authorizations and permits granted to 无忧短视频 for the operation of the Rochester Hub and the Spokes on pause; the risk that the New York state and municipal authorities determine that the permits granted to 无忧短视频 for the production of metal sulphates at the Rochester Hub will be impacted by the change to MHP and the reduction in scope for the project; 无忧短视频’s failure to materially increase recycling capacity and efficiency; 无忧短视频 expects to continue to incur significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect 无忧短视频鈥檚 operations; 无忧短视频鈥檚 inability to maintain and increase feedstock supply commitments as well as secure new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for 鈥済reen鈥� energy technologies; decreases in benchmark prices for the metals contained in 无忧短视频鈥檚 products; changes in the volume or composition of feedstock materials processed at 无忧短视频鈥檚 facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; 无忧短视频鈥檚 expected revenues for the Rochester Hub are expected to be derived significantly from a limited number of customers; 无忧短视频鈥檚 reliance on the experience and expertise of senior management and key personnel; the potential for 无忧短视频鈥檚 directors and officers who hold Company common shares to have interest that may differ from, or be in conflict with, the interests of other shareholders; 无忧短视频鈥檚 insurance may not cover all liabilities and damages; 无忧短视频鈥檚 reliance on limited number of commercial partners to generate revenue; customer demand for recycled materials; an active, liquid trading market for our common shares may not be sustained; 无忧短视频鈥檚 inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geo-political events; failure to protect or enforce 无忧短视频鈥檚 intellectual property; 无忧短视频 may be subject to intellectual property rights claims by third parties; 无忧短视频 may be subject to cybersecurity attacks, including, but not limited to, ransomware; 无忧短视频鈥檚 failure to effectively remediate the material weaknesses in its internal control over financial reporting that it has identified or its failure to develop and maintain a proper and effective internal control over financial reporting; the risk that 无忧短视频 may lose access to funding under the DOE loan facility; risk of litigation or regulatory proceedings that could materially adversely impact 无忧短视频鈥檚 financial results; and the terms of the warrants. These and other risks and uncertainties related to 无忧短视频鈥檚 business are described in greater detail in the section titled “Part I – Item 1A. Risk Factors” and 鈥淧art II – Item 7. Management鈥檚 Discussion and Analysis of Financial Condition and Results of Operation鈥� 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.

无忧短视频 assumes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements should not be relied upon as representing 无忧短视频鈥檚 assessments as of any date subsequent to the date of this press release.

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