Core Insights - Electra Battery Materials Corporation has appointed Paolo Toscano as Vice President, Projects and Engineering to lead the construction of North America's first cobalt sulfate refinery in Ontario [1][2] Company Update - The company has decided not to proceed with a proposed reverse split of its common shares at this time, despite shareholder approval for a ratio of one post-split share for up to 3.5 pre-split shares [5][6] - Electra remains committed to enhancing its presence in U.S. capital markets and maintaining high standards of transparency and governance [5][6] Leadership and Experience - Paolo Toscano brings over 30 years of experience in leading large-scale mining and metals projects, with a strong background in technical excellence and operational discipline [2][3] - Toscano's previous roles include Senior Vice President at Marathon Gold and senior positions at Alamos Gold and Ausenco Engineering, where he successfully directed complex projects [3][4] Long-Term Incentive Plan - Electra has issued 2,669,000 incentive stock options, 179,000 restricted share units, and 271,000 deferred share units as part of its Long-Term Incentive Plan to retain and motivate high-performing personnel [7][8] - The options are exercisable for three years at a closing price of C$1.97 and will vest in two equal tranches [9] Strategic Focus - Electra is focused on constructing North America's only cobalt sulfate refinery to strengthen the critical minerals supply chain and reduce reliance on foreign sources [10] - The company is also exploring black mass recycling opportunities and evaluating growth in nickel refining and other battery materials [11]
Electra Names Paolo Toscano Vice President, Projects and Engineering to Oversee Construction of North America’s First Cobalt Sulfate Refinery