Senior finance leader with deep public company,
battery materials, and mining experience to lead financial
initiatives in a permanent capacity
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), a leading global lithium-ion battery resource recovery
company, is pleased to announce that it has appointed Craig
Cunningham to the role of Chief Financial Officer (CFO), effective
July 20, 2024. Mr. Cunningham has served as Li-Cycle’s interim CFO
since March 2024.
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the full release here:
https://www.businesswire.com/news/home/20240718508433/en/
Craig Cunningham (Photo: Business
Wire)
Mr. Cunningham brings nearly two decades of experience in
accounting, finance, operations and capital markets, along with a
strong background in executive-level leadership. He also has
extensive experience spearheading financial activities for publicly
traded companies in the battery materials and mining sectors. As
CFO, he will continue to lead the Company’s finance function,
supporting Li-Cycle’s operations and strategic priorities.
“Craig is a proven battery materials and mining executive, and
we have been impressed with his contributions and expertise at
Li-Cycle in his role as interim CFO over the past several months,”
said Ajay Kochhar, President and CEO of Li-Cycle. “We look forward
to Craig’s continued guidance and leadership as we continue to
execute on our key objectives, including working closely with the
U.S. Department of Energy on key technical, financial, and legal
workstreams to advance toward definitive financing documentation
required for a loan, as well as our review of the Rochester Hub
project.”
Before joining Li-Cycle, Mr. Cunningham was CFO at Electra
Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM), a
refiner and recycler focused on producing materials for electric
vehicle batteries, where he provided important financial oversight
and leadership. Prior to Electra Battery Materials, Mr. Cunningham
served as Vice President and Regional Financial Officer at Kinross
Gold Corporation (TSX: K; NYSE: KGC), one of the largest gold
producers in the world. At Kinross Gold, he held increasingly
senior roles and most recently oversaw finance, information
technology, supply chain and logistics, and administration
functions in Russia.
Mr. Cunningham earned a Bachelor of Accounting from Brock
University and an MBA from Ivey Business School at Western
University in Canada. He is a Chartered Public Accountant and a
Chartered Accountant.
“Li-Cycle continues to demonstrate its resilience and
capabilities by securing a strategic investment earlier this year,
by expanding its commercial network, and through its ongoing cash
preservation activities. The underlying long-term market
opportunities for the business also remain robust,” said Mr.
Cunningham. “I look forward to playing a key role in Li-Cycle’s
growth journey and supporting the Company in delivering long-term
value to shareholders.”
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery
resource recovery company. Established in 2016, and with major
customers and partners around the world, Li-Cycle’s mission is to
recover critical battery-grade materials to create a domestic
closed-loop battery supply chain for a clean energy future. The
Company leverages its innovative, sustainable and patent-protected
Spoke & Hub Technologies™ to recycle all different types of
lithium-ion batteries. At our Spokes, or pre-processing facilities,
we recycle battery manufacturing scrap and end-of-life batteries to
produce black mass, a powder-like substance which contains a number
of valuable metals, including lithium, nickel and cobalt. At our
future Hubs, or post-processing facilities, we plan to process
black mass to produce critical battery-grade materials, including
lithium carbonate, for the lithium-ion battery supply chain. For
more information, visit https://li-cycle.com/.
Forward-Looking Statements
Certain statements contained in this press release may be
considered “forward-looking statements” 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 “will”, “expect”, 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 Mr. Cunningham’s expected continued
contributions to Li-Cycle, and management’s plans to execute on the
Company’s key objectives, including working closely with the U.S.
Department of Energy on key technical, financial, and legal
workstreams to advance toward definitive financing documentation
required for a loan, as well as the review of the Rochester Hub
project.
These statements are based on various assumptions, whether or
not identified in this press release, including but not limited to
assumptions regarding the timing, scope and cost of Li-Cycle’s
projects; Li-Cycle’s ability to execute on its growth and other
strategic plans; the processing capacity and production of
Li-Cycle’s facilities; Li-Cycle’s ability to source feedstock and
manage supply chain risk; Li-Cycle’s ability to increase recycling
capacity and efficiency; Li-Cycle’s ability to obtain financing on
acceptable terms; Li-Cycle’s ability to retain and hire key
personnel and maintain relationships with customers, suppliers and
other business partners; general economic conditions; currency
exchange and interest rates; compensation costs; 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
Li-Cycle’s current objectives, goals, targets, strategic
priorities, expectations and plans, and in obtaining a better
understanding of Li-Cycle’s 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 Li-Cycle,and are not guarantees of
future performance. The risks and uncertainties related to
Li-Cycle’s business are described in the sections titled “Item 1A.
Risk Factors” and “Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operation—Key Factors Affecting
Li-Cycle’s Performance” in its Annual Report on Form 10-K and the
sections titled “Part II. Other Information—Item 1A. Risk Factors”
and “Part I. Financial Information—Item 2. Management’s Discussion
and Analysis of Financial Condition and Results of Operation—Key
Factors Affecting Li-Cycle’s Performance” in its Quarterly Reports
on Form 10-Q, in each case filed with the U.S. Securities and
Exchange Commission 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 statements. Li-Cycle 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 Li-Cycle’s
assessments as of any date subsequent to the date of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240718508433/en/
Investor Relations & Media Louie Diaz Sheldon
D'souza
Investor Relations: investors@li-cycle.com Media:
media@li-cycle.com
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