Electra Closes Final Tranche of Oversubscribed Private Placement

Core Points - Electra Battery Materials Corporation has successfully closed the final tranche of an oversubscribed non-brokered private placement, raising approximately US$3.5 million [1][2] - The offering consisted of 3,125,000 units issued at a price of US$1.12 per unit, with each unit comprising one common share and one transferable common share purchase warrant [2] - The net proceeds from the offering will be utilized to advance the company's Refinery project in Temiskaming Shores, Ontario, and for general corporate purposes [2] Offering Details - The offering was conducted in two tranches, with the first tranche closing on April 3, 2025, and the second on April 14, 2025 [2] - Each warrant allows the holder to purchase one common share at a price of US$1.40 for a period of eighteen months following the issue date [2] - The company paid US$219,447 in cash finders fees and issued 183,333 non-transferrable finders warrants to eligible finders [5] Related Party Transactions - Key executives and directors of the company participated in the offering, constituting a "related party transaction" under applicable securities laws [3][4] - The company did not file a material change report prior to closing due to the timing of insider participation [4] - As the transaction does not exceed 25% of the company's market capitalization, no formal valuation or minority shareholder approval is required [4] Securities Regulations - The common shares and warrants issued under the offering are not subject to a hold period under Canadian securities laws [6] - Securities issued to insiders will be subject to a statutory hold period of four months and one day from the date of issuance [6] - The offering remains subject to final approval from the TSX Venture Exchange [6] Company Overview - Electra Battery Materials is focused on advancing North America's critical minerals supply chain for lithium-ion batteries [8] - The company is developing North America's only cobalt sulfate refinery and has plans for nickel refining and battery recycling [8] - Growth projects include integrating black mass recycling and exploring opportunities for cobalt and nickel production in North America [8]