Core Viewpoint - Electra Battery Materials Corporation is undergoing a leadership transition with the appointment of Marty Rendall as the new Chief Financial Officer, effective January 1, 2025, following the retirement of David Allen. This change comes at a crucial time as the company aims to build resilient critical minerals supply chains outside of China and achieve cash flow by 2026 [2][3][10]. Company Leadership Transition - Marty Rendall, CFA, has been appointed as the new CFO, bringing extensive experience in strategic planning, financial reporting, and team development [2][4]. - David Allen, the outgoing CFO, played a significant role in securing a US$20 million award from the U.S. Department of Defense and will assist in the transition process [10][11]. Project Developments - Electra is focused on completing the construction of its cobalt refinery, which aims to produce an initial rate of 5,000 tonnes per annum of battery-grade cobalt contained in cobalt sulfate, with plans to expand production to 6,500 tonnes per annum [5]. - The company is also engaged in recycling battery black mass to recover lithium, nickel, cobalt, and other critical metals, supported by a joint venture with Aki Battery Recycling [5][12]. - The cobalt refinery project has an estimated current replacement value of approximately US$200 million and is in advanced stages to raise US$60 million for completion, with US$20 million already committed by the U.S. Department of Defense [6]. Strategic Vision - Electra is building North America's first cobalt sulfate refinery and aims to integrate battery materials recycling and nickel sulfate production into its operations [12][14]. - The company has conducted a plant-scale battery recycling trial, processing over 40 tonnes of black mass material to recover valuable elements, demonstrating its capability to produce high-quality nickel, cobalt, and lithium products [12]. Financial Incentives - In connection with the appointment of Mr. Rendall, the company will issue 125,000 incentive stock options, which will vest over a four-year period, subject to the approval of the TSX Venture Exchange [13].

Core Viewpoint - Electra Battery Materials Corporation is undergoing a significant transition with the appointment of Marty Rendall as the new Chief Financial Officer, aiming to enhance its operations and achieve cash flow by 2026 through the development of critical minerals supply chains outside of China [1][14]. Company Developments - The company is advancing the construction of North America's first cobalt sulfate refinery, with an initial production capacity of 5,000 tonnes per annum of battery-grade cobalt [3][11]. - A subsequent expansion is planned to increase cobalt production to 6,500 tonnes per annum, reaching the nameplate capacity of the crystallization circuit [16]. - Electra is also exploring the establishment of a second cobalt sulfate facility in Bécancour, Quebec, and a nickel sulfate refinery in North America [4][11]. Financial and Operational Highlights - The cobalt refinery project has an estimated current replacement value of approximately US$200 million, with the company in advanced stages to raise about US$60 million to complete construction [10]. - The U.S. Department of Defense has committed US$20 million to support the construction of the cobalt sulfate refinery [8][10]. - The company has successfully processed over 40 tonnes of black mass material in a plant-scale battery recycling trial, recovering valuable elements such as lithium, nickel, and cobalt [17]. Leadership Transition - Marty Rendall brings 17 years of experience as Chief Financial Officer at Victoria Gold, where he played a crucial role in transforming the company into a leading Canadian gold producer with an enterprise value exceeding C$1 billion [2][15]. - The transition from David Allen to Marty Rendall is expected to strengthen the company's operational capabilities and align interests with shareholders through long-term incentive plans [5][9].

Corporate Update - The Company engaged Epstein Research for research and analysis services in the metals and mining industry, paying a total of US$6,000 for the engagement period from September 1, 2024, to November 30, 2024 [1] - Epstein Research's role included increasing awareness through social media and producing various content types [1] About Electra Battery Materials - Electra Battery Materials focuses on processing low-carbon, ethically-sourced battery materials and is developing North America's only cobalt sulfate refinery [2][3] - The Company aims to onshore the electric vehicle supply chain and provide a North American solution for EV battery materials refining [2] Shareholder Meeting Results - At the special meeting, 13,792,275 common shares, representing 24% of the issued and outstanding shares, were voted in favor of all business items, including a reverse stock split and the 2024 Employee Share Purchase Plan [5] - The reverse stock split will occur at a ratio of four pre-split shares for one post-split share [6] Compliance with Nasdaq Requirements - The reverse stock split is intended to help the Company regain compliance with Nasdaq's minimum bid price requirement of US$1.00 per share [7] - The Company has until January 15, 2025, to regain compliance following an appeal to Nasdaq [7] Management Commentary - The Vice President of Investor Relations emphasized the importance of the Nasdaq listing for visibility and access to the U.S. market, expressing gratitude for shareholder support [8]

TORONTO, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to announce that it has secured a 10-year exploration permit for its Idaho copper and cobalt properties, including its Iron Creek project, in the Idaho Cobalt Belt, U.S.A. Covering 91 designated drill pad locations and hundreds of potential drill targets, this long-term permit enhances project certainty, offers greater planning flexibility, and significantly re ...

TORONTO, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announces the filing of their third quarter 2024 financial reports. Achievements in the Quarter Refinery Project U.S. Department of Defence Award: On August 19, 2024, the Company received a US$20 million award under Title III of the Defense Production Act to support the construction of North America's first cobalt sulfate refinery for battery-grade materials.New Con ...

Exhibit 99.1 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------|-------------------------| | | | | ELECTRA BATTERY MATERIALS CORPORATION | | | CONDENSED INTERIM CONSOLIDATED FINANCIAL FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER AND 2023 (UNAUDITED) | STATEMENTS 30, 2024 | Approved on behalf of the Board of Directors and authorized for issue on November 14, 2024 ELECTRA BATTERY MATERIALS CORPOR ...

TORONTO, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra" or the "Company") is pleased to announce CEO Trent Mell will be participating in the 2024 OECD Conference of Mining Regions and Cities taking place October 8 to 11, 2024, in Greater Sudbury, Canada. The OECD (Organisation for Economic Co-operation and Development) is a forum and knowledge hub for data, analysis and best practices in public policy. This conference brings together stakeholde ...

(All amounts in US dollars) TORONTO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra" or the "Company") today provided an update on its financing strategy for North America's first battery grade cobalt refinery, announcing that it has received a non-binding term sheet for a $20 million prepayment facility from an arms-length strategic player in the battery materials sector. Several other financing discussions have been advancing alongside this p ...

TORONTO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra" or the "Company") is pleased to announce, in support of its strategic plans to build a North American battery materials supply chain, the Company has signed a strategic advisory agreement with Altitude Capital Consultants Inc. ("Altitude"), based in Toronto, Ontario and led by renowned Canadian capital markets and investment banking experts Michael Wekerle and Gene McBurney, to provide cap ...

Financial Performance - The company reported a net loss of CAD 17,941,000 for the six months ended June 30, 2024, compared to a net loss of CAD 8,584,000 for the same period in 2023[4]. - The basic loss per share for the six months ended June 30, 2024, was CAD (0.32), compared to CAD (0.24) for the same period in 2023[4]. - The company reported a net loss of $(5,772) thousand for the three months ended June 30, 2024, compared to a net income of $11,762 thousand for the same period in 2023[68]. - The basic loss per share for the three months ended June 30, 2024, was $(0.10), compared to a gain of $0.33 for the same period in 2023[68]. - The net loss for the six months ended June 30, 2024, was CAD 17,941,000, compared to a net loss of CAD 8,584,000 for the same period in 2023[6]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to CAD 148,169,000, a slight decrease from CAD 148,692,000 in the previous year[2]. - Current liabilities increased to CAD 64,621,000 from CAD 56,087,000, primarily due to an increase in convertible notes payable, which rose to CAD 48,361,000 from CAD 40,101,000[2]. - The total liabilities increased to CAD 78,148,000 from CAD 65,394,000, reflecting higher debt levels[2]. - Shareholders' equity as of June 30, 2024, was CAD 70,021,000, down from CAD 83,298,000 in the previous year[2]. - The accumulated deficit as of June 30, 2024, was CAD 263,386,000, up from CAD 245,445,000 at the end of 2023[11]. Cash Flow and Financing - The company reported cash used in operating activities of CAD 7,951,000 for the six months ended June 30, 2024, an increase from CAD 4,997,000 in the prior year[6]. - Cash provided by financing activities was CAD 4,229,000 for the six months ended June 30, 2024, compared to CAD 16,488,000 in the same period of 2023[6]. - The company received a government loan of CAD 4,249,000 during the financing activities for the six months ended June 30, 2024[6]. - The company is actively pursuing various financing alternatives, including government grants and strategic partnerships, to enhance liquidity[13]. - The company completed a private placement on August 11, 2023, raising gross proceeds of CAD 21,500,000[13]. Operational Costs - Operating expenses for the three months ended June 30, 2024, totaled CAD 3,418,000, compared to CAD 4,519,000 in the previous year, indicating a reduction in operational costs[4]. - The company incurred consulting and professional fees of CAD 1,092,000 for the same period, with salaries and benefits totaling CAD 798,000[87]. - Salaries and benefits for the six months ended June 30, 2024, totaled CAD 1,695,000, compared to CAD 2,619,000 for the same period in 2023, a decrease of 35%[89]. Marketable Securities and Investments - The company recorded an unrealized gain on marketable securities of CAD 181,000 for the six months ended June 30, 2024, compared to a gain of CAD 31,000 in the previous year[4]. - The total value of marketable securities at June 30, 2024, was $327, down from $595 on December 31, 2023, with unrealized gains recorded at $89 for the three months ended June 30, 2024[25]. - The company sold marketable securities for proceeds of $562 and $594 during the three and six months ended June 30, 2024, respectively, realizing gains of $40 and $44[25]. Construction and Development - The company is constructing an expanded hydrometallurgical cobalt refinery and exploring modular growth scenarios for a recycled battery material program[9]. - The company suspended construction of the refinery due to insufficient funding, raising concerns about its ability to continue as a going concern[11]. - An impairment charge of $49,743 was recognized for the Ontario Refinery, with a recoverable amount determined at $44,899, assuming commercial production will commence in 2026[19]. Stock and Shareholder Information - The weighted average number of common shares outstanding increased to 57,198,468 from 35,972,480 year-over-year[4]. - The Company issued 843,039 common shares at a market price of $0.6439 to settle $401 of interest payments on convertible notes[39]. - The Company issued 19,545,454 units at $1.10 per unit during a private placement, raising gross proceeds of $21,500[46]. - The total number of shares reserved for issuance under the Plan is limited to 4,100,000 shares[52]. - The company reported an increase in the number of stock options outstanding from 772,568 at December 31, 2023, to 3,765,711 at June 30, 2024[55]. Exploration and Evaluation - The balance of exploration and evaluation assets as of June 30, 2024, is $88,619, reflecting a foreign exchange increase of $2,985[22]. - The company has ongoing exploration and evaluation activities in Idaho, USA, with capital assets located in both Canada and the USA[87]. Restatements and Adjustments - Total assets as of June 30, 2023, were restated to $197,009 million, a decrease of $1,968 million from previously reported figures[101]. - The total liabilities were restated to $78,448 million, a decrease of $1,392 million from previously reported figures[101]. - The net loss for the six months ended June 30, 2023, was restated to $8,584 million, an improvement of $1,392 million from previous reports[102].