DELTA, British Columbia, Nov. 24, 2025 (GLOBE NEWSWIRE) -- RecycLiCo Battery Materials Inc. (“RecycLiCo” or the “Company”) (TSX.V: AMY | OTCQB: AMYZF |FSE: ID4), a critical minerals refining and lithium-ion battery upcycling company, today announced that Andris Kikauka, who is retiring from the Company’s Board of Directors, will continue as a consultant to support the ongoing management and maintenance of RecycLiCo’s legacy mining assets. In this consulting role, Mr. Kikauka will have day-to-day advisory re ...

Core Insights - RecycLiCo Battery Materials Inc. is participating in Benchmark Week 2025, a significant global conference for the battery supply chain, which will take place from November 18-20 in Los Angeles [1][2] Company Overview - RecycLiCo specializes in critical minerals refining and lithium-ion battery upcycling, utilizing advanced hydrometallurgical technologies to recover essential materials such as lithium, cobalt, nickel, and manganese from various feedstocks, including end-of-life batteries and production scrap [5] Strategic Focus - The company's participation in Benchmark Week aims to advance initiatives related to circular supply chains and responsible sourcing of critical minerals, highlighting its competitive advantage in these areas [3] - RecycLiCo's patented closed-loop refining process supports scalability across multiple market segments, enabling flexibility and diversification for commercialization and partnerships [3][7] Networking and Collaboration - Benchmark Week serves as a platform for high-value networking, strategic collaboration, and deal flow, with participation from key industry players and policymakers, including MP Materials, LG Energy Solution, and the U.S. Department of Energy [2] - The company aims to expand its network of strategic partners in the critical minerals and metals sectors, positioning its technology as a scalable solution to regional supply shortages and sustainability mandates [7]

Core Points - Electra Battery Materials Corporation has issued a significant SMPEI tender package for its cobalt sulfate refinery construction in Temiskaming Shores, Ontario, marking a transition to full construction mobilization [1][2] - The tender encompasses critical processing systems installation, including structural, mechanical, piping, electrical, instrumentation, and utility connections, essential for integrating the refinery's key systems [2] - The company is focused on safely executing installation activities to move closer to commissioning, with a targeted completion date set for 2027 [3] Company Overview - Electra is a leader in advancing North America's critical minerals supply chain for lithium-ion batteries, primarily focusing on constructing the continent's only cobalt sulfate refinery [4] - The company aims to onshore critical minerals refining to reduce reliance on foreign supply chains and holds significant land in Idaho's Cobalt Belt, positioning itself as a cornerstone for North American cobalt and copper production [4] - Electra is also exploring black mass recycling opportunities to recover critical materials from end-of-life batteries and evaluating growth opportunities in nickel refining and other downstream battery materials [5]

Core Viewpoint - Electra Battery Materials Corporation is undergoing a recapitalization and restructuring initiative to strengthen its balance sheet and complete the construction of North America's first battery-grade cobalt sulfate refinery [1]. Financial Restructuring - The Company will convert approximately US$41.3 million of outstanding secured convertible notes into about 55 million units, reducing total debt under the notes to approximately US$27.5 million [2]. - The remaining 40% of the notes will be exchanged for a new three-year term loan, with a one-time bonus of 3,822,341 common shares issued to lenders at a deemed price of US$0.90 per share [3]. - The units issued as part of the restructuring will consist of one common share and one warrant, with a deemed exchange price of US$0.75 per unit [4]. Compliance and Approval - The restructuring will proceed at US$0.75 per unit after the TSXV did not grant a waiver for a lower equitization price of US$0.60 [5]. - Completion of the restructuring is subject to definitive documentation, shareholder approval, and regulatory approvals from the TSX Venture Exchange and Nasdaq [7]. Strategic Importance - The restructuring is a decisive step toward restoring financial flexibility and unlocking the value of Electra's strategically located assets, aligning the capital structure with a sustainable production path [6]. - Electra is focused on developing North America's only cobalt sulfate refinery and aims to onshore critical minerals refining to reduce reliance on foreign supply chains [8].

Core Insights - Electra Battery Materials Corporation has completed its early works program at its cobalt refinery, enhancing its readiness to restart full construction and solidifying its commitment to onshoring critical minerals processing in North America [1][6] Group 1: Early Works Program - The early works program included targeted site-level activities to prepare for full-scale construction, supported by strategic government funding [2] - Key activities involved concrete foundation work for solvent extraction (SX) tanks, installation of processing equipment, structural roofing, and upgrades to power, lighting, and septic systems [5] Group 2: Strategic Positioning - The completion of the early works program positions Electra for efficient execution once construction resumes, with a focus on long-lead procurement [3] - Electra aims to be a foundational part of North America's energy future by delivering a reliable supply of cobalt and creating long-term value for stakeholders [6] Group 3: Industry Impact - Electra's refinery is the only project in North America designed to produce battery-grade cobalt sulfate at scale, integrating advanced hydrometallurgical processing and pursuing low-carbon production pathways [6] - The company's strategy includes nickel refining and battery recycling, with growth projects such as integrating black mass recycling and evaluating cobalt production opportunities in Quebec [7]

Core Viewpoint - Electra Battery Materials Corporation is launching an early works program at its cobalt refinery to prepare for full-scale construction, emphasizing its commitment to onshoring critical minerals processing in North America [1][2][4]. Group 1: Early Works Program - The early works program includes targeted site-level activities with a budget of approximately C$750,000, focusing on advancing the solvent extraction facility [2][3]. - Key activities will involve relocating and installing SX processing equipment, pouring concrete bases for SX tanks, and completing structural roofing work on the SX building [3][4]. - This initiative follows a previous C$200,000 investment into site infrastructure, enhancing overall construction readiness [3]. Group 2: Funding and Support - The early works program is partially funded by a US$20 million award from the U.S. Department of Defense under the Defense Production Act, highlighting the strategic importance of the refinery [4][7]. - The project has also received support from Canada's Strategic Innovation Fund, indicating strong government backing [4][7]. Group 3: Strategic Importance - Electra's refinery is positioned as North America's only battery-grade cobalt sulfate production facility, aiming to redefine critical minerals refining with low-carbon production pathways [6][8]. - The company is actively working to finalize the remaining financing needed to bring the refinery into full commercial operation, with foundational funding already secured [7].

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]