TSX VENTURE:ELBM

Electra Announces Voting Results of its 2023 Annual Meeting of Shareholders

Retrieved on: 
Wednesday, October 25, 2023
Alternative Energy, Energy, Other Energy, Utilities, Social Democrats (Slovenia), TSX Venture Exchange, 2020–2022 Chinese property sector crisis, Meeting, RSU, Policy, Motivation, Acquisition, Easement, Restatement, LTIP, Growth, Indian stock exchange, Consultant, Disposition, Culture, PSU Zephyrus

At the Meeting, shareholders also approved the 2022 amended and restated LTIP (the “2022 Amended and Restated LTIP”).

Key Points: 
  • At the Meeting, shareholders also approved the 2022 amended and restated LTIP (the “2022 Amended and Restated LTIP”).
  • Shareholders also approved a new Employee Share Purchase Plan for the Company (the “ESP Plan”).
  • The Common Shares issued to obtain the Easement will be subject to a four-month hold from the date of issue.
  • The acquisition was completed as an “Expedited Acquisition” under TSXV Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets, and remains subject to the TSXV’s final acceptance.

Electra Provides Update on Cobalt Refinery Project

Retrieved on: 
Monday, October 23, 2023
Other Manufacturing, Technology, EV, Electric Vehicles, Automotive, Other Energy, Manufacturing, Energy, Mining, Minerals, Batteries, Natural Resources, Three Fires, US, Government, EPCM, Public expenditure, Copper, Nickel, Engineering, Multimedia, Cobalt, Manganese, Lithium, Fire, Recycling, Graphite, LG Energy Solution, Rare-earth element, Oil

Installation of the equipment delivered at site will occur as Electra secures its capital funding requirements for the refinery project.

Key Points: 
  • Installation of the equipment delivered at site will occur as Electra secures its capital funding requirements for the refinery project.
  • We remain encouraged by Three Fires’ continued commitment of a strategic investment in Electra.”
    In June 2021, Electra launched its project to expand and recommission an idled refinery capable of producing 5,000 tonnes of cobalt contained in cobalt sulfate per year.
  • Once fully constructed, the refinery has the capacity to expand to 6,500 tonnes of cobalt contained in cobalt sulfate per year.
  • Electra will continue to provide updates on the progress of its refinery project and efforts to secure funding.

Electra to Host Annual Meeting of Shareholders on October 24

Retrieved on: 
Monday, October 16, 2023
Environment, Technology, EV, Electric Vehicles, Automotive, General Automotive, Other Energy, Energy, Mining, Minerals, Batteries, Natural Resources, Sheraton Centre, Sheraton Centre Toronto Hotel, Holding company, Auction

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced today that its annual and special meeting of shareholders will be held on October 24 at the Sheraton Centre, 123 Queen Street West, Toronto.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced today that its annual and special meeting of shareholders will be held on October 24 at the Sheraton Centre, 123 Queen Street West, Toronto.
  • Shareholders will be asked to vote on a number of resolutions, including the election of directors and the appointment of auditors.
  • Shareholders are recommended to submit their proxies by October 20, 2023, at 11:00 am (Toronto time).
  • Following the formal portion of the meeting, management will provide an update on the Company’s recent progress and discuss its near-term outlook.

Electra Extends Processing of Black Mass Material Based on Successes of Its Battery Recycling Trial

Retrieved on: 
Monday, October 2, 2023
Environment, Technology, EV, Electric Vehicles, Automotive, General Automotive, Other Energy, Energy, Mining, Minerals, Batteries, Natural Resources, Graphite, Metal, Manganese, Project, Electra, Carbon footprint, Overalls, Multimedia, Recycling, McKinsey & Company, Nickel, MHP, Copper, Cobalt, Economics, Lithium

As a result of the successes achieved, Electra will continue to process black mass material at its refinery complex.

Key Points: 
  • As a result of the successes achieved, Electra will continue to process black mass material at its refinery complex.
  • (Photo: Business Wire)
    “Results from of our plant-scale black mass trial continue to exceed our expectations,” said Trent Mell, Electra’s CEO.
  • Electra anticipates providing a detailed summary report of its key findings from its black mass trial in the coming weeks.
  • According to data from McKinsey & Company, available battery material for recycling is expected to grow by 20% per year through 2040.

Electra Receives NASDAQ Notice on Minimum Price Deficiency

Retrieved on: 
Friday, September 22, 2023
Manufacturing, Other Manufacturing, Energy, Other Energy, Engineering, TSX Venture Exchange, Calendar, Notice, Auction

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announced today that it received a notice (“Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) on September 21, 2023 stating that the Company is not in compliance with the minimum bid price requirement ("Minimum Bid Requirement") of US$1.00 per share under Nasdaq’s Listing Rule 5550(a)(2) based upon the closing bid price of the Company's common shares for the 30 consecutive business days prior to the date of the Notice.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announced today that it received a notice (“Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) on September 21, 2023 stating that the Company is not in compliance with the minimum bid price requirement ("Minimum Bid Requirement") of US$1.00 per share under Nasdaq’s Listing Rule 5550(a)(2) based upon the closing bid price of the Company's common shares for the 30 consecutive business days prior to the date of the Notice.
  • The Notice has no immediate effect on the listing or trading of the Company’s common shares on the Nasdaq Capital Market, and the Company's operations are not affected by the receipt of the Notice.
  • Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of the Notice, or until March 19, 2024, to regain compliance with the Minimum Bid Requirement, during which time the Company’s common shares will continue to trade on Nasdaq.
  • If at any time before March 19, 2024, the bid price of the common shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Requirement.

Electra Provides Notice of Change of Auditors

Retrieved on: 
Tuesday, September 19, 2023
Automotive, Mining, Minerals, EV, Electric Vehicles, Technology, Batteries, Natural Resources, Alternative Vehicles, Fuels, Standby Equity Distribution Agreement, Indian stock exchange, MNP, Auditor, Bank statement, Chartered Professional Accountant, Part, MNP LLP, ATM, Corporation, Disagreement, National instrument, NI, KPMG LLP, Intermediary, SEDAR, CIBC, KPMG, Audit

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced today that it has changed its auditors from KPMG LLP (“Former Auditor”) to MNP LLP, Chartered Professional Accountants (“Successor Auditor”) effective September 18, 2023.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced today that it has changed its auditors from KPMG LLP (“Former Auditor”) to MNP LLP, Chartered Professional Accountants (“Successor Auditor”) effective September 18, 2023.
  • At the request of the Corporation, the Former Auditor resigned as the auditor of Electra effective September 14, 2023.
  • Electra’s Board of Directors appointed the Successor Auditor as the Corporation’s auditor effective September 18, 2023 until the next Annual General Meeting of the Corporation.
  • In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the board of directors of the Corporation and filed on SEDAR.

Electra Reports Q2 2023 Results and Provides Update on Cobalt Refinery Project and Black Mass Recycling Trial

Retrieved on: 
Thursday, August 17, 2023
Environment, Automotive, General Automotive, Public Relations, Investor Relations, Other Energy, Communications, Energy, Mining, Minerals, Natural Resources, Graphite, Note, TSX Venture Exchange, Manganese, EV, RSU, Electra, Bank statement, LG Energy Solution, First Nations, Recycling, Economics, Lithium, EBITDA, Nickel, Social Democrats (Slovenia), SEDAR, Copper, Cobalt, Fire, Rare-earth element, Webcast

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today reported its financial results for the three- and six-month periods ended June 30, 2023, and provided an update on the commissioning of its cobalt refinery and its black mass recycling trial.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today reported its financial results for the three- and six-month periods ended June 30, 2023, and provided an update on the commissioning of its cobalt refinery and its black mass recycling trial.
  • “Our recent efforts have been primarily focused on strengthening our balance sheet and updating our refinery project and black mass economics,” said Trent Mell, Electra’s CEO.
  • Operating loss for Q2 2023 was $4.5 million, up from $3.9 million for Q2 2022.
  • The decline was primarily driven by capital costs related to the construction of the cobalt refinery project and costs related to the Company’s black mass trial.

Electra Enhances Terms of Cobalt Supply Agreement with LG Energy Solution

Retrieved on: 
Monday, July 24, 2023
EV, Electric Vehicles, Automotive, Technology, Mining, Minerals, Batteries, Natural Resources, Green Technology, Alternative Vehicles, Fuels, Alternative Energy, Environment, Energy, KRX, Graphite, Manganese, Three Fires, LG Energy Solution, Intelligence, Public policy, Research, CRU, Government, Fire, Investment, Nickel, Ecosystem, Cobalt, Lithium, Rare-earth element

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”) today announced that its battery grade cobalt supply agreement with LG Energy Solution (LGES; KRX: 373220), a leading global manufacturer of lithium-ion batteries, has been extended and expanded from terms initially announced in September 2022.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”) today announced that its battery grade cobalt supply agreement with LG Energy Solution (LGES; KRX: 373220), a leading global manufacturer of lithium-ion batteries, has been extended and expanded from terms initially announced in September 2022.
  • Electra will now supply LG Energy Solution with 19,000 tonnes of battery grade cobalt over a five-year period beginning in 2025.
  • Under the updated terms, Electra will supply LG Energy Solution with 3,000 tonnes of cobalt contained in a cobalt sulfate product in 2025 and a further 4,000 tonnes in each of the following years through 2029 for a total of 19,000 tonnes under an agreed pricing mechanism.
  • Consistent with the original terms of the supply agreement, Electra and LG Energy Solution will also cooperate and explore ways to advance opportunities across North America’s EV supply chain, including, but not limited to, securing of sustainable sources of raw materials.

Electra Makes First Customer Shipment of Recycled Nickel-Cobalt Produced at its Refinery Complex

Retrieved on: 
Monday, July 17, 2023
Automotive, Public Relations, Investor Relations, Mining, Minerals, Communications, Other Energy, Recycling, Natural Resources, General Automotive, Green Technology, Environment, Energy, Graphite, Manganese, EV, Lithium, Nickel, MHP, Cobalt, Lithium carbonate, Fire, Rare-earth element

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced the first customer shipment of nickel-cobalt produced at its refinery complex north of Toronto from recycled battery material.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced the first customer shipment of nickel-cobalt produced at its refinery complex north of Toronto from recycled battery material.
  • Using Electra’s proprietary hydrometallurgical process, the nickel-cobalt mixed hydroxide precipitate product (“MHP”) was produced in the Company’s black mass recycling trial currently underway at its permitted, low-carbon hydrometallurgical refinery.
  • “The first customer delivery of product from our refinery marks another important milestone on the path to commercializing our black mass refining capabilities,” said Trent Mell, CEO of Electra.
  • Also, in March 2023 Electra produced a mixed hydroxide precipitate (MHP) at contained metal grades for nickel and cobalt above quoted market specifications.

Electra Announces Commitment for Strategic Investment from First Nation-Owned Three Fires Group

Retrieved on: 
Monday, June 26, 2023
Alternative Energy, Green Technology, Energy, Technology, Recycling, EV, Electric Vehicles, Batteries, Environment, Mining, Minerals, General Automotive, Natural Resources, Transport, Automotive, Logistics, Supply Chain Management, Other Energy, Vehicle Technology, Unit, Graphite, Plastic, VW, TSX Venture Exchange, Manganese, Timiskaming, Three Fires, Placement, Volkswagen Group China, First Nations, Electricity, Cell, Carbon, Lithium, Toyota, Government, Ministry, Park, CAMI, GM, Nickel, ESG, Copper, Conservation, Ministry of the Environment, Conservation and Parks, Volkswagen Group, Cobalt, Council of Three Fires, News, Economics, Fire, Rare-earth element, Electric battery, Security (finance)

Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announces that it has received a commitment for a strategic investment from the Three Fires Group Inc. (“Three Fires”) in support of advancing the Company’s battery materials park north of Toronto and accelerating its battery recycling strategy in North America.

Key Points: 
  • Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announces that it has received a commitment for a strategic investment from the Three Fires Group Inc. (“Three Fires”) in support of advancing the Company’s battery materials park north of Toronto and accelerating its battery recycling strategy in North America.
  • The Three Fires investment is expected to form part of a larger financing by Electra totaling up to $20 million.
  • Completion of the strategic investment is also subject to Electra securing additional financing of not less than $10 million.
  • Research firm MarketsandMarkets estimates the lithium-ion battery recycling market to grow to $35.1 billion by 2031, from $6.5 billion in 2022.