TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) has established an At the Market Offering (the “ATM”), pursuant to the previously announced At The Market Offering Agreement entered into with H.C. Wainwright & Co., LLC (“Wainwright”) dated June 26, 2025. Under the ATM, the Company may offer and sell, at its discretion and from time to time, through Wainwright, common shares in the capital of the Company (the “Common Sha ...

Core Insights - Electra Battery Materials Corporation is actively participating in strategic industry events to foster relationships with investors, policymakers, and industry partners focused on developing a secure domestic critical minerals supply chain [1][3]. Upcoming Engagements - Electra will engage in the SelectUSA Investment Summit on November 17, connecting Canadian companies with U.S. Economic Development Organizations to explore cross-border investment opportunities [6]. - The company will participate in the Ontario Critical Minerals Forum on November 18-19, where it will discuss building a circular battery materials supply chain and the role of Indigenous participation in sustainable clean energy [6]. - During Benchmark Week from November 18-20, Electra leadership will meet with global industry and investment leaders to discuss market trends and strategies for enhancing onshore refining and recycling capacity [6]. - Electra's CEO will attend the Northern Miner – International Metals Symposium in London from November 30 to December 1, highlighting Ontario's role in the global battery materials landscape and discussing collaborative opportunities with investors and strategic partners [6]. Company Overview - Electra is focused on constructing North America's only cobalt sulfate refinery as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains [4]. - The company holds a significant land package in Idaho's Cobalt Belt, positioning itself as a potential cornerstone for North American cobalt and copper production [4]. - Electra is advancing black mass recycling opportunities to recover critical materials from end-of-life batteries and is evaluating growth opportunities in nickel refining and other downstream battery materials [5].

Core Viewpoint - Electra Battery Materials Corporation is making significant progress in establishing a North American battery materials supply chain, focusing on the construction of its cobalt sulfate refinery in Ontario, supported by substantial government funding and strategic initiatives [2][5][8]. Financial Highlights - The company secured a US$13 million (C$17.5 million) commitment from the Ontario government, contributing to a total of US$48 million in government support, including US$20 million from the U.S. Department of Defense and US$15 million (C$20 million) from the Government of Canada [5]. - A US$34.5 million financing was completed in August 2025, which reduced the company's debt to approximately US$28 million and is intended to fund the remaining construction of the refinery [5][6]. - As of September 30, 2025, the company had a cash balance of C$3 million, and following the quarter-end financing, it believes it is adequately funded to complete the refinery construction [6]. Strategic Developments - The company commenced metallurgical testing of North American cobalt feedstock from its Iron Creek project in Idaho and legacy operations in Ontario, aiming to validate the suitability of regional materials for future processing [5]. - Progress was announced at the Iron Creek cobalt-copper project, including geological modeling and evaluation to support future opportunities, reinforcing the company's long-term vision of onshoring the North American supply chain [5]. - The company appointed Paolo Toscano as Vice President, Projects and Engineering, to lead the construction and commissioning of the cobalt sulfate refinery, emphasizing its commitment to disciplined execution [5]. Operational Updates - Construction at the Ontario cobalt refinery was reactivated in November 2025, following the arrangement of an US$82 million funding package, building on early works completed in September [5][6]. - The company is also advancing 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 [9].

Core Viewpoint - Electra Battery Materials Corporation is making significant progress in establishing North America's first cobalt sulfate refinery, supported by substantial financial backing and strategic initiatives aimed at reducing reliance on foreign battery material sources [1][2][6]. Financial Highlights - The company secured a US$13 million (C$17.5 million) commitment from the Ontario government, adding to a total of US$48 million in government support, which includes US$20 million from the U.S. Department of Defense and US$15 million (C$20 million) from the Government of Canada [5]. - A US$34.5 million financing was completed in August 2025, which, along with a balance sheet restructuring, reduced the company's debt to approximately US$28 million and is intended to fund the remaining construction of the refinery [5][6]. - As of September 30, 2025, the company had a cash balance of C$3 million, and following the quarter-end financing, it believes it is adequately funded to complete the refinery construction [6]. Strategic Developments - The company commenced metallurgical testing of North American cobalt feedstock from its Iron Creek project in Idaho and legacy operations in Ontario, validating the suitability of regional materials for future processing [5]. - The appointment of experienced executives to the Board of Directors aims to enhance governance and oversight as the company transitions into the execution phase of its projects [5]. - Construction at the cobalt refinery project was reactivated in November 2025, supported by an US$82 million funding package, building on preliminary work completed earlier in the year [5]. Industry Positioning - Electra is positioned as a leader in advancing North America's critical minerals supply chain for lithium-ion batteries, focusing on onshoring critical minerals refining to reduce foreign supply chain reliance [8]. - The company 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 [9].

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 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]

Core Insights - Electra Battery Materials Corporation has initiated a new program to enhance mineral deposit modeling and feedstock integration at its Iron Creek cobalt-copper project in Idaho, aiming to support U.S. efforts to increase domestic critical mineral production and reduce reliance on foreign supply chains [1][2] Group 1: Company Developments - The financing for Electra's North American cobalt refinery has been completed, with construction set to resume, allowing the company to leverage its improved balance sheet for growth [2] - Electra is diversifying its feedstock base by sourcing domestic materials, with Idaho identified as a strategic location for cobalt and copper production, aligning with U.S. priorities for critical mineral independence [3] - A bench-scale lab program has been launched to evaluate cobalt feedstocks from various North American deposits, focusing on modifications to the existing refinery flowsheet to accommodate polymetallic sulfide concentrates [3][4] Group 2: Geological Research and Exploration - A new geological research program at Iron Creek is being conducted in collaboration with the Centre to Advance the Science of Exploration to Reclamation in Mining (CASERM), utilizing Short-Wave Infrared (SWIR) hyperspectral imaging to identify mineralization zones [4][5] - The program aims to refine the geological model and guide future drilling campaigns by mapping the margins of mineralized zones [5][6] - Electra holds 10-year exploration permits covering 91 designated drill pad locations across Iron Creek and Ruby, with plans for a drilling restart in spring 2026 based on findings from the new scanning program [9] Group 3: Strategic Vision - Electra's long-term strategy focuses on building a vertically integrated solution for domestic supply-chain resilience, including cobalt sulfate refining and potential nickel refining and battery recycling [11][15] - The company aims to create a continental supply chain that starts with American mining and ends with refined cobalt sulfate for battery production in North America [12]

Core Insights - Electra Battery Materials Corporation has initiated a new program to enhance mineral deposit modeling and feedstock integration at its Iron Creek cobalt-copper project in Idaho, aligning with U.S. efforts to increase domestic critical mineral production and reduce reliance on foreign supply chains [1][2][3] Company Developments - The financing for Electra's North American cobalt refinery is complete, with construction set to resume, allowing the company to leverage its improved balance sheet for growth and to onshore both mineral processing and mining capabilities to meet rising U.S. demand for critical minerals [2][3] - Electra's CEO, Trent Mell, emphasized the strategic importance of Idaho for domestic cobalt production, highlighting the company's plans to diversify its feedstock base by sourcing domestically [3][6] - A new geological research program at Iron Creek, in collaboration with the Centre to Advance the Science of Exploration to Reclamation in Mining (CASERM), aims to refine the geological model and guide future drilling campaigns [4][5][6] Exploration and Resource Development - The new geological program will utilize advanced scanning techniques to better define mineralized zones, which are critical for guiding future drilling efforts [6][9] - Electra holds 10-year exploration permits covering 91 designated drill pad locations across Iron Creek and Ruby, with plans for a drilling restart in spring 2026 based on new findings [9][10] - The company is also collecting bulk samples from Adit 1 for metallurgical testing to refine process design parameters and assess future feedstock integration into its refining operations [10][11] Strategic Vision - Electra's long-term strategy focuses on building a vertically integrated supply chain for critical minerals in North America, with the Idaho mineral assets potentially serving as a domestic feedstock source [11][12] - The company aims to create a continental supply chain that starts with American mining and culminates in refined cobalt sulfate for battery production in North America [12][14]

Core Insights - Electra Battery Materials Corporation has successfully closed a US$34.5 million financing and US$40 million debt equitization, securing over US$80 million in total to fund the construction of North America's first cobalt sulfate refinery [1][2][8] - The refinery, located in Temiskaming Shores, Ontario, is fully funded and aims to enhance North America's battery and defense supply chains, addressing national security concerns [2][4] - The company has reset its balance sheet, reducing total debt from US$67 million to US$27 million, which simplifies its capital structure and provides greater flexibility for future projects [8][19] Company Developments - Electra's cobalt sulfate refinery will produce up to 6,500 tonnes of battery-grade cobalt sulfate annually, sufficient for approximately 1 million vehicle batteries [6] - The company has appointed three new directors to its board, enhancing leadership in critical minerals supply and national security [5] - Electra is advancing its project portfolio, including the Idaho cobalt project and a black mass recycling program, to align with long-term demand growth [7] Financial Transactions - The financing involved the issuance of 46 million units at a price of US$0.75 per unit, resulting in gross proceeds of US$34.5 million [10][11] - The debt restructuring included an equity exchange and a debt exchange, resulting in the issuance of 27.1 million common shares and 55 million warrants to lenders [20] - The company has engaged Epstein Research for increased awareness and communication, paying US$7,500 for a three-month engagement [23]

Core Points - Electra Battery Materials Corporation held a special meeting of shareholders on October 15, 2025, where all matters presented were approved, including the election of seven nominees to the Board of Directors [1][2] Board of Directors Election - All seven director nominees were elected, with David Stetson appointed as Chair of the Board, succeeding John Pollesel, who became Lead Director [3][4] - Newly elected directors include Jody Thomas, former National Security and Intelligence Advisor, and Gerard Hueber, retired Rear Admiral of the U.S. Navy [2][4] - Voting results showed strong support for the nominees, with David Stetson receiving 97.34% of votes in favor [4] Additional Business Items - The meeting approved several additional business items, including restructuring transactions involving holders of convertible notes, the creation of a "Control Person," and an amendment for a reverse stock split at a ratio of one post-split share for up to 3.5 pre-split shares [4][5] Shareholder Participation - A total of 2,123,906 common shares, representing 12% of Electra's issued and outstanding shares, were represented at the meeting [5] Company Overview - Electra is focused on advancing North America's critical minerals supply chain for lithium-ion batteries, developing the only cobalt sulfate refinery in Ontario, and pursuing battery recycling initiatives [6]