RE: A question1 May 2025 20:30
Do not waste your time .
Li-Cycle previously disclosed that it had received waivers from the holders of its convertible notes, Glencore Canada Corporation ("Glencore") and Wood River Capital, LLC ("Wood River Capital" and together with Glencore, the "Convertible Note Holders") that permitted its common shares to trade on the OTCQX® Best Market ("OTCQX") until April 30, 2025 (the "Waivers"). The Convertible Note Holders extended the Waivers on April 30, 2025 to permit the Company’s 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, Li-Cycle 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. Li-Cycle’s 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’s interest in a potential transaction involving Li-Cycle. Despite such efforts, no actionable transaction in the best interests of the Company and its stakeholders has been identified to date. Considering the Company’s current circumstances, Li-Cycle 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.
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