TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra" or the "Company") today confirmed the filing of their consolidated financial statements for the three months and year ended December 31, 2024, on Friday, March 28, 2025, and provides an update on its 2024 activities. "2024 was an important year for Electra as we built momentum across all areas of our business," said Trent Mell, CEO of Electra. "With more than US$50 million in non-dilutive ...

Core Insights - Electra Battery Materials Corporation has successfully completed a non-brokered private placement that is fully subscribed and allocated, indicating strong investor interest and confidence in the company's strategy [1][2] Company Overview - Electra Battery Materials is focused on advancing North America's critical minerals supply chain for lithium-ion batteries, specifically developing the region's only cobalt sulfate refinery [4] - The company is executing a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains, which includes nickel refining and battery recycling [4] - Current growth projects involve integrating black mass recycling at its existing refining complex, evaluating cobalt production opportunities in Bécancour, Quebec, and exploring nickel sulfate production potential in North America [4] Use of Proceeds - The net proceeds from the private placement will be allocated to advancing the Refinery project site in Temiskaming Shores, Ontario, and for general corporate purposes [2]

TORONTO, March 24, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) to raise aggregate gross proceeds of up to US$3,500,000. The Offering will consist of units of the Company (each, a “Unit”) to be issued at a price of US$1.12 per Unit. Each Unit will consist of one common share in the capital of the Company (“Common Shares”) and one tran ...

Company Overview - Electra Battery Materials Corporation is developing North America's only cobalt sulfate refinery, with a focus on low-carbon, ethically-sourced battery materials [6] - The refinery is located in Temiskaming Shores, Ontario, and aims to produce 6,500 tonnes of cobalt per year, supporting the production of up to 1 million electric vehicles (EVs) annually [5] Government Support and Funding - The Government of Canada has provided a conditional contribution to support the completion of the cobalt sulfate refinery [1] - Electra has secured US$54 million in non-dilutive funding, including US$34 million in government support and a US$20 million strategic investment proposal [2] Industry Position and Impact - Electra's refinery will play a critical role in strengthening North America's electric vehicle supply chain, as over 90% of cobalt sulfate production currently occurs in China [3] - The facility is projected to have the lowest carbon footprint of any refinery of its kind globally, contributing to a net-zero economy [5] Future Developments - The company is actively developing additional non-dilutive funding options and is advancing its full financing solution as planned [4] - Electra is also exploring potential cobalt sulfate processing in Bécancour, Quebec, and nickel sulfate production in North America [6]

TORONTO, March 24, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to provide an update following a visit from the Honourable Marc G. Serré, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Nickel Belt and the Honourable Anthony Rota, Member of Parliament for Nipissing–Timiskaming, to its cobalt sulfate refinery site in Ontario. The Company welcomed the MPs following Electra ...

Core Viewpoint - Electra Battery Materials Corporation has received a Letter of Intent for $20 million in funding to support the construction of North America's first battery-grade cobalt refinery, which aims to produce enough materials for up to one million electric vehicles annually [2][3]. Group 1: Funding and Government Support - The funding will facilitate the completion and commissioning of the cobalt refinery, highlighting the Government of Canada's commitment to energy security and critical mineral independence [2][3]. - The Letter of Intent, agreed upon on January 27, 2025, is non-binding and expresses an interest in working towards a final agreement, but does not guarantee funding [5]. Group 2: Strategic Importance of the Project - The refinery, located in Temiskaming Shores, Ontario, is projected to have the lowest carbon footprint of any refinery of its kind globally and aims to reduce reliance on cobalt refined in China, which currently accounts for approximately 90% of global production [6][3]. - Once operational, the facility is expected to produce 6,500 tonnes of cobalt per year, supporting the production of up to one million electric vehicles annually [6]. Group 3: Future Plans and Market Position - In addition to cobalt refining, Electra plans to produce other battery materials and has initiated a feasibility study for a battery recycling refinery adjacent to the cobalt facility [7]. - The company is also considering establishing a second cobalt sulfate facility in Bécancour, Quebec, and a nickel sulfate plant in North America, positioning itself to leverage the growing EV and battery markets [7][8].

Core Points - Electra Battery Materials Corporation has received a Letter of Intent for $20 million funding to support the construction of North America's first battery-grade cobalt refinery, which aims to enable domestic production of up to one million electric vehicles annually [2][3][6] - The project is positioned to reduce reliance on China, which currently refines approximately 90% of the world's cobalt, thereby fostering a more resilient and self-reliant North American supply chain [3][6] - The refinery, located in Temiskaming Shores, Ontario, is projected to have the lowest carbon footprint of any refinery of its kind globally, producing 6,500 tonnes of cobalt per year [6][7] Company Strategy - Electra plans to produce additional battery materials to enhance the resiliency of the North American supply chain, including a battery recycling refinery adjacent to its cobalt refinery [7] - The company is also exploring the potential for a second cobalt sulfate facility in Bécancour, Quebec, and a nickel sulfate plant in North America [7][8] - Electra's strategy focuses on onshoring the electric vehicle supply chain and providing a North American solution for EV battery materials refining [8] Government Support - The Government of Canada is committed to advancing North American energy security and critical mineral independence, with the Minister of Innovation highlighting the importance of critical minerals for a low-carbon economy [3][4] - The Federal Government's non-binding Letter of Intent indicates an interest in supporting Electra's project, although final agreements and funding are not guaranteed [5]

Core Insights - Electra Battery Materials Corporation has appointed Alden Greenhouse to its Board of Directors, enhancing its leadership in the critical minerals sector [1][2] - Greenhouse's extensive experience in critical and strategic minerals, along with his financial expertise, is expected to support Electra's mission to establish a sustainable supply chain for battery materials in North America [2][3] - Electra is focused on developing North America's only cobalt sulfate refinery and aims to reduce reliance on foreign supply chains through a phased strategy that includes nickel refining and battery recycling [5] Company Overview - Electra Battery Materials is a leader in advancing North America's critical minerals supply chain for lithium-ion batteries [5] - The company is executing a strategy to onshore critical minerals refining, which includes establishing a cobalt sulfate refinery and exploring opportunities for nickel sulfate production [5] - Current growth projects involve integrating black mass recycling at its refining complex and evaluating cobalt production opportunities in Bécancour, Quebec [5] Leadership Insights - Alden Greenhouse has held various leadership roles at Agnico Eagle Mines since 2013, including Vice-President positions in Strategic Development and Corporate Development [3] - He has a strong background in financial markets, having worked at RBC Capital Markets, and holds advanced degrees and professional designations in finance and accounting [4]

Core Viewpoint - Electra Battery Materials Corporation is enhancing its exploration efforts at the CAS Property in the Idaho Cobalt Belt, highlighting high-grade gold values and the strategic importance of this property to its overall exploration strategy in Idaho [1][2]. Exploration and Mineralization - The CAS Property has shown significant gold values from over 2,600 meters of drilling conducted between 2003 and 2006, with notable highlights including gold grades of up to 9.2 g/t [2][5]. - The presence of high-grade gold alongside critical minerals like cobalt and copper enhances the economic potential of Electra's properties in the Idaho Cobalt Belt, providing options for future funding and development [2][11]. - The Idaho Cobalt Belt is recognized as the largest undeveloped primary cobalt resource in the U.S., with mineralization at CAS sharing similarities with other significant deposits in the region [3]. Strategic Importance - Electra's CEO emphasized the importance of securing a stable supply of critical minerals for domestic industrial and military security, with the CAS Property being a key asset in this strategy [2][12]. - The company holds a significant land position in the Idaho Cobalt Belt, including the Iron Creek deposit and the Ruby target area, which are crucial for expanding its resource base [2][11]. Future Plans - Electra plans to conduct further bedrock mapping, structural evaluation, and geophysical surveys at the CAS Property to delineate mineralization for future drilling [10]. - The company has secured a 10-year exploration permit covering 91 drill pad locations and hundreds of potential drill targets in the Idaho Cobalt Belt [6]. Broader Strategy - Electra is focused on developing North America's first battery-grade cobalt refinery in Canada, which aligns with its strategy to onshore critical minerals refining and reduce reliance on foreign supply chains [11][14]. - The exploration efforts in the Idaho Cobalt Belt support the company's broader vision of expanding critical mineral refining capabilities, including battery recycling and nickel production [11][14].

Core Viewpoint - Electra Battery Materials Corporation is enhancing its exploration efforts in the Idaho Cobalt Belt, particularly at the CAS Property, which shows high-grade gold values and is strategically important for the company's future development plans [1][2]. Exploration and Mineralization - The CAS Property has demonstrated significant gold values from over 2,600 meters of drilling conducted between 2003 and 2006, with notable highlights including gold grades of up to 9.2 g/t [2][5]. - The Idaho Cobalt Belt is recognized as the largest undeveloped primary cobalt resource in the U.S., with the CAS Property sharing similarities with other significant deposits in the region [3]. - Recent geochemical sampling has identified multiple anomalous zones of gold, copper, and cobalt, indicating potential for further exploration and resource expansion [9]. Strategic Importance - The presence of high-grade gold alongside critical minerals like cobalt and copper enhances the economic potential of Electra's properties, supporting future funding and development strategies [2][11]. - Electra's exploration aligns with U.S. government priorities for securing domestic mineral resources, contributing to the long-term security of the critical minerals supply chain [12]. Future Plans - The company plans to conduct further bedrock mapping, structural evaluations, and geophysical surveys to delineate mineralization for future drilling [10]. - Electra is focused on completing the construction of North America's first battery-grade cobalt refinery, which will support the development of future cobalt deposits in Idaho [11].