Core Viewpoint - Electra Battery Materials Corporation has successfully completed a fully subscribed private placement financing, raising US$30 million, which reflects strong support from both existing and new institutional investors [1][2]. Financing Details - The private placement, referred to as the Offering, is a crucial part of Electra's strategy to strengthen its capital structure and fund the commissioning of North America's first battery-grade cobalt sulfate refinery in Ontario [2][5]. - The Offering is being managed by Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd. as co-lead agents, along with a syndicate of agents [2]. - There is an option for agents to sell an additional 15% of units at the issue price, allowing for potential further participation from qualified investors [3]. Shareholder Participation - Existing shareholders have a deadline of September 26, 2025, to express their interest in participating in the Offering [4]. - The Offering is expected to close around October 17, 2025, pending shareholder approval and other customary conditions [5]. Company Strategy and Positioning - Electra is focused on developing North America's only cobalt sulfate refinery and aims to reduce reliance on foreign supply chains through onshoring critical minerals refining [7]. - The company's growth strategy includes nickel refining and battery recycling, with ongoing projects such as integrating black mass recycling and exploring cobalt and nickel production opportunities in North America [7].
Electra US$30 Million Financing Fully Subscribed