Nano One Announces Mr. Alex Holmes as COO

Vancouver, British Columbia--(Newsfile Corp. - February 1, 2021) - The Board of Directors at Nano One® (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) is pleased to announce the appointment of Mr. Alex Holmes as Chief Operating Officer (COO).

"Alex is a seasoned and trusted leader with broad public markets experience," said CEO Mr. Dan Blondal. "His expertise in business development, finance and lithium resource management will be an enormous asset to Nano One, particularly as we ramp up operations in support of multiple partnerships and business opportunities. Alex was selected for this role by the senior management team in a thorough search process; he is a great fit and we are delighted to have an executive of such calibre joining us here at Nano One. With this appointment we have filled a key role in driving our business transformation and welcome Alex as a partner to the executive team."

As COO, Mr. Holmes will help drive Nano One's business transformation and evolution by acting as a strategic partner to the CEO, President and Chairman. He will be responsible for spearheading Nano One's business operations and optimizing its operational capabilities, to ensure alignment with market growth opportunities, and strategic initiatives. He will oversee business development, research, scale-up, investor relations, marketing, human resources, and facilities to ensure that all functions are aligned with Nano One's business strategy, priorities, and long term plan.

"I am extremely excited to be joining the Nano One team. For a number of years I have admired the team's leadership as they evolved into a technology solutions leader in the cathode materials space," stated Mr. Holmes. "We have a unique opportunity to continue to disrupt the battery market with our strong platform of existing solutions, alongside our ongoing innovations focused on improving current, and enabling future, battery technology."

Mr. Holmes has spent more than 15 years as a senior executive with a number of public companies. Most recently, he served as the CEO of Plateau Energy Metals, a public company advancing a world-class hard rock lithium project in tandem with a uranium asset in Peru. Prior to this, Mr. Holmes co-founded a technology start-up, leading it from prototype to commercialization in a short period of time, and was a partner and co-founder of Oxygen Capital Corp. where he led the business development for all affiliated companies. He was instrumental in working with the companies to raise more than $250 million of capital to advance and grow the businesses. As head of Business Development for one of the Oxygen Capital companies, Mr. Holmes was instrumental in taking the company from initial asset acquisition through growth and advancement of the project from early engineering studies to project finance and ultimately commercial production. His prior experience also includes leading investment banking teams at two independent Canadian investment banks and raising capital for and advising on transactions for numerous companies. Mr. Holmes holds a M.Sc. in Investment Management, graduating with Distinction from The Business School, City University of London.

Nano One has received proceeds of approximately $4,465,000 from the exercise of stock options and warrants since its last financial update dated October 1, 2020. This brings the Company's treasury to approximately $28,000,000 with up to $4,250,000 in non-dilutive non-repayable contributions from Canadian clean technology government programs. This further strengthens the Company's financial position to execute on its business strategy. Nano One has also granted 1,540,000 incentive stock options with an exercise price of $5.10 to directors and officers of the Company.

Nano One Materials Corp.

Dan Blondal, CEO

For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 420-2041 or visit the website at www.nanoone.ca.

About Nano One

Nano One Materials Corp has developed patented technology for the low-cost production of high-performance lithium ion battery cathode materials used in electric vehicles, energy storage and consumer electronics. The processing technology enables lower cost feedstocks, simplifies production, and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnered with global leaders in the lithium ion battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.

Nano One's pilot and partnership activities are being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC), the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED), and the Province of British Columbia through the Ministry of Energy, Mines and Petroleum Resources. Nano One's mission is to establish its patented technology as a leading platform for the global production of a new generation of battery materials. www.nanoone.ca

Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, any statements regarding its financial position, business strategy, growth strategies, budgets, operations, financial results, plans, objectives and other information that is not historical fact... Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. See "Cautionary Note Regarding Forward-Looking Information" and "Risk Factors" in the Company's Annual Information Form which is available on www.sedar.com for a discussion of the uncertainties, risks and assumptions associated with these statements. We caution that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect our results. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

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