Page 1

Nano One Provides Quarterly Progress Update and Reports Q3 2021 Results Vancouver , British Columbia -- ( Newsfile Corp. - November 11 , 2021 ) - Nano One® Materials Corp. ( TSX : NANO ) ( OTC Pink : NNOMF ) ( FSE : LBMB ) ( " Nano One " ) is a clean technology company with patented processes for the low - cost , low - environmental footprint production of high - performance cathode materials used in lithium - ion batteries . Nano One announces its financial results and operations overview for the third fiscal quarter ended September 30 , 2021 and is pleased to review the following highlights from Q3 2021 . Q3 Highlights and Headlines • Working capital of ~ $ 54.0 million ; cash of ~ $ 54.6 million • MOU with global automotive OEM to evaluate manganese rich cathode materials • Joint development agreement with Euro Manganese for the development of high - purity manganese in lithium - ion battery cathode materials • Completion of SDTC and BC - ICE Milestone 2 and receipt of Milestone 3 funds • Engaged global engineering firm , Hatch , to lead an engineering study for expanded cathode evaluation project with a global automotive company " Nano One continues to advance opportunities with our partners in the battery supply chain and in this past three months we have added a fewmore strategic relationships , " commented Mr. Dan Blondal , CEO . " We have business dealings on many fronts around the globe , including opportunities to enable lowcost integrated domestic supply chains in North America and Europe that with the use of our technologies could increase competitiveness , reduce environmental footprint and add value to critical mineral supplies . " Corporate Updates for Q3 and Post - Q3 2021 Transition in LFP Strategy and Accelerate ZEV Alliance Membership On November 9 , 2021 , the Company announced a transition in its LFP cathode material focus towards emerging opportunities in domestic supply chains in North America and Europe , to create a secure , integrated and cost competitive solution that reduces environmental footprint . Joint Development Agreement signed with Euro Manganese On October 4 , 2021 , the Company announced the signing of a Joint Development Agreement with Euro Manganese Inc. ( " Euro Manganese " ) , a battery raw materials company developing a significant manganese deposit in the Czech Republic . The two companies will collaborate on developing economically viable and environmentally sustainable applications of high - purity manganese expected to be produced by Euro Manganese from its proposed Chvaletice Manganese Project . The manganese will be evaluated by Nano One in the formation of its innovative cathode materials including LNMO ( lithium nickel manganese oxide ) and nickel - rich NMC ( lithium nickel manganese cobalt oxide ) . LNMO and NMC materials will be prepared using Nano One's patented One - Pot process , coated nanocrystal powders and M2CAM technology , enabling the use of sulfate - free metals and lithium carbonate as lower cost and environmentally more sustainable feedstocks . Completion of 2019 Cathode Development Project with Global Automotive Company and New Agreement On September 30 , 2021 , the Company announced the completion of a project with a global automotive