
April 05, 2022
Electra Battery Materials Corporation (TSXV: ELBM) (OTCQX: ELBMF) ("Electra") announced that in preparation for a potential listing of its common shares on The Nasdaq Stock Market LLC ("Nasdaq"), the Company will undertake a consolidation (the "Consolidation") of its outstanding common share capital on the basis of one (1) post-Consolidation share for every eighteen (18) pre-Consolidation shares. The Consolidation was previously approved by shareholders of the Company at the annual general and special meeting held on December 2, 2021.
HIGHLIGHTS
- Uplisting from OTC to Nasdaq provides growth-oriented companies greater exposure to largest capital market in the world
- The resulting smaller share count and higher share price is more palatable to U.S. institutional investors. The revised capital structure and resulting higher share price may provide increased ability for U.S. institutional investors to become shareholders of Electra
- Target date of April 11 for share consolidation and the Company hopes to complete the Nasdaq listing by the end of April
Subject to the approval of the TSX Venture Exchange, on or about April 11, 2022, the common shares of the Company will commence trading on a post-Consolidation basis under the existing ticker symbols. As of the date of this news release, the Company has 562,414,189 common shares issued and outstanding. Following completion of the Consolidation, the Company is expected to have approximately 31,245,232 common shares issued and outstanding. The exercise price and number of common shares issuable upon the exercise of the Company's outstanding options, warrants and convertible notes will also be proportionally adjusted upon completion of the Consolidation.
"In conjunction with the uplisting, the Company is required to complete a share consolidation to meet the minimum price threshold for a Nasdaq listing. The resulting smaller share count and higher share price is more palatable to U.S. institutional investors, which will be important for our future growth plans."
A letter of transmittal will be mailed to registered shareholders once the Consolidation has taken effect. The letter of transmittal contains instructions on how registered shareholders can exchange their share certificates evidencing their pre-Consolidation shares for new share certificates representing the number of post-Consolidation shares to which they are entitled.
Beneficial shareholders holding their shares through a brokerage may be subject to different procedures for obtaining their post-Consolidation shares. If shareholders have any questions in this regard, they are encouraged to contact their respective brokerage or intermediary.
Readers are cautioned that while the Company has applied for listing on Nasdaq, completion of a listing is subject to regulatory approvals and the satisfaction of applicable listing requirements. There can be no assurance that a listing will be completed, and in the event a listing is completed it is contemplated that the common shares of the Company would continue to trade in Canada on the TSX Venture Exchange.
About Electra Battery Materials
Electra is planning to build a fully integrated, localized and environmentally sustainable battery materials park. Leveraging the Company's own mining assets and business partners, the Electra Battery Materials Park is expected to host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers. Electra also owns the advanced exploration-stage Iron Creek cobalt-copper project in Idaho, USA. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region's fast growing electric vehicle industry.
On behalf of Electra Battery Materials.
Trent Mell
Chief Executive Officer
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 Statement
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". Forward-looking statements 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. 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.sedar.com. Although Electra Battery Materials Corporation 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, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ELBM:CA
The Conversation (0)
22 June 2022
Electra Evaluates Development of Second Battery Materials Refinery in North America; Appoints 30 Year Industry Veteran to Lead Study
Electra Battery Materials Corporation (NASDAQ: ELBM) (TSXV: ELBM) ("Electra") today announced that as part of its growth strategy in support of the onshoring of electric vehicle supply chains in North America it has begun preliminary discussions with the Government of Quebec to build a new... Keep Reading...
08 June 2022
Electra Appoints Experienced Finance Executive as CFO
Electra Battery Materials Corporation (NASDAQ: ELBM) (TSXV: ELBM) ("Electra") today announced the appointment of Craig Cunningham a finance executive with 17 years of experience as Chief Financial Officer effective today. "Craig is a welcome addition to the Electra senior leadership team,... Keep Reading...
31 May 2022
Electra Underscores Commitment to Sustainability with Launch of Comprehensive ESG Policies and Frameworks
Electra Battery Materials Corporation (NASDAQ: ELBM) (TSXV: ELBM) (the "Company" or "Electra") today announced the introduction of a comprehensive set of olicies and frameworks that underpin the Company's commitment to Environmental, Social and Governance (ESG) best practices. Approved by the... Keep Reading...
26 May 2022
Electra Makes Steady Progress in Q1 2022 Towards Commissioning its Cobalt Refinery
Electra Battery Materials Corporation (NASDAQ: ELBM) (TSXV: ELBM) ("Electra") today provided an update on its plans to develop a low carbon, fully-integrated battery materials park for the North American electric vehicle industry and announced the filing of its financial results for the first... Keep Reading...
17 May 2022
Electra Updates ATM Program
Electra Battery Materials Corporation (NASDAQ: ELBM) (TSXV: ELBM) ("Electra") announces that it has updated its at-the-market equity program (the "ATM Program") to issue up to C$20,000,000 (or its equivalent in U.S. currency) of common shares ("Common Shares") in the United States and Canada... Keep Reading...
02 October
Fortune Minerals Advancing NICO Project to Mine Construction Decision in 2026
Fortune Minerals (TSX:FT,OTCQB:FTMDF) is advancing its NICO cobalt-gold-bismuth-copper-critical minerals project in Canada toward a project construction decision by late 2026. Robin Goad, president and CEO, shared how government funding has been essential to advancing the NICO project.Fortune... Keep Reading...
22 September
DRC to End Cobalt Export Ban, Move to Quota System
The Democratic Republic of Congo (DRC) announced it will lift its eight month cobalt export ban on October 16, replacing it with annual quotas designed to stabilize global supply and prices.Bloomberg reported that the country's Authority for the Regulation and Control of Strategic Mineral... Keep Reading...
18 August
Top 5 Canadian Cobalt Stocks of 2025
Cobalt prices remained elevated through the year's second quarter, holding strong after a sharp early year rally triggered by the Democratic Republic of Congo’s (DRC) export ban on cobalt hydroxide. Announced in February, the restriction quickly pushed standard-grade cobalt metal up 45 percent... Keep Reading...
07 August
Cobalt Market Update: Q2 2025 in Review
Cobalt prices remained elevated through Q2 after a dramatic price surge early in the year. The tailwinds were largely attributed to the Democratic Republic of Congo’s (DRC) export ban on cobalt hydroxide. First announced in February, the ban sparked a sharp price rally by mid-month, pushing... Keep Reading...
29 July
ASX Cobalt Stocks: 4 Biggest Companies of 2025
After spending much of the last two years trending downward, cobalt prices are up in 2025.About 75 percent of global cobalt output comes from the Democratic Republic of the Congo (DRC), and in February the country banned exports of cobalt in an effort to increase the metal's falling price. By... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00