ELBM: NASDAQ   $0.44 (-1.62%)
ELBM: TSX.V   $0.58 (+3.57%)
ELBM: NASDAQ   $0.44 (-1.62%)
ELBM: TSX.V   $0.58 (+3.57%)

Latest News

Electra Battery Materials Corporation Announces Cease Trade Order

Toronto, Ontario – (April 8, 2024) - Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) advises that it is delayed in filing its annual financial statements, accompanying management's discussion and analysis, annual information form, and related CEO and CFO certifications (collectively, the "Financial Reports") for the financial year ended December 31, 2023.

As a result of the delay, the Ontario Securities Commission has issued a failure to file cease trade order against the Company ("FFCTO").

The Company has experienced delays in preparing the Financial Reports due to additional time required to resolve items related to the change in audit firms, announced September 19, 2023. Electra is working closely with its current and predecessor auditors to complete the Financial Reports and will make the required filings as soon as possible.

The Company confirms that there is no material information concerning the affairs of the Company that has not been generally disclosed. The Company is current in its filing obligations, other than as disclosed herein. Electra will issue a news release once the Financial Reports have been filed and provide any updates on this matter as soon as they become available.

The FFCTO prohibits the trading by any person of any securities of the Company in Canada, including trades in the Company’s common shares made through the TSX Venture Exchange, until the Financial Reports have been filed and the FFCTO revoked.

About Electra Battery Materials

Electra is a processor of low-carbon, ethically-sourced battery materials. Currently focused on developing North America’s only cobalt sulfate refinery and a black mass refinery, Electra is executing a multipronged strategy to onshore the electric vehicle supply chain. Keys to its strategy are integrating black mass recycling and nickel sulfate production at Electra’s cobalt refinery located north of Toronto, advancing Iron Creek, its cobalt-copper exploration-stage project in the Idaho Cobalt Belt, and expanding cobalt sulfate processing into Bécancour, Quebec. For more information, please visit www.ElectraBMC.com.

Contact:

Heather Smiles
Vice President, Investor Relations & Corporate Development
info@ElectraBMC.com
1.416.900.3891

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Such forward-looking statements include, without limitation, statements regarding the potential for additional funding from the Federal government of Canada and the government of Ontario and the quantum and terms thereof, adjustments of interest rates on the occurrence of certain events which may impact the attributes of the notes and warrants issued under the Note offering, including but not limited to a “green bond” designation, and the effective conversion rate of the Notes and Warrants, which is subject to adjustment in certain circumstances. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Other factors that could lead actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.