TORONTO, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”), a leader in advancing North America’s critical minerals processing, has resumed construction at its cobalt sulfate refinery following the arrangement of approximately US$82 million in project financing. This brownfield expansion positions Electra to complete North America’s first cobalt sulfate refinery, with permits and infrastructure in place, major equipment already o ...

Core Viewpoint - Electra Battery Materials Corporation is undertaking a US$30 million financing as part of its financial restructuring to support the commissioning of North America's first battery-grade cobalt sulfate refinery in Ontario [1][3]. Financing Details - The company has engaged Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd. as co-lead agents for a private placement offering, aiming to sell a minimum of 40,000,000 units at US$0.75 per unit, totaling at least US$30 million [2]. - Each unit consists of one common share and one warrant, allowing the purchase of an additional common share at US$1.25 for a period of 36 months post-offering [4]. - The offering is backed by a US$10 million conditional commitment from lenders, with existing shareholders given the opportunity to participate on the same terms as new investors [5]. Use of Proceeds - Net proceeds from the offering will be allocated to the completion and ramp-up of the cobalt refinery, the black mass recycling program, repayment of US$2 million in promissory notes, restructuring expenses, and general working capital [6]. - If gross proceeds exceed US$34.5 million, excess funds will be used to repurchase senior secured convertible notes from lenders [6]. Timeline and Conditions - The offering is expected to close around October 15, 2025, subject to shareholder approval and other regulatory conditions [7]. - A special meeting for shareholder approval is anticipated on or around October 9, 2025 [7]. Agent Compensation - The company will pay agents a cash commission of 6% of gross proceeds and issue non-transferable broker warrants equal to 6% of units sold, with reduced commissions for certain units sold under the lender commitment [8]. Regulatory Compliance - The units are offered on a private placement basis in Canada and outside Canada, adhering to specific securities regulations [9][10]. - Common shares from the sale of units under the Listed Issuer Financing Exemption will not be subject to a hold period, while other securities will have a statutory hold period of four months and one day [11]. Company Overview - Electra Battery Materials is focused on advancing North America's critical minerals supply chain for lithium-ion batteries, with plans for cobalt sulfate refining, nickel refining, and battery recycling [13].

Core Insights - American Battery Technology Company (ABTC) has been awarded "Recycling Technology Solution of the Year" by CleanTech Breakthrough, recognizing its advancements in battery recycling technology and contributions to a circular supply chain for critical battery materials [1][2] Group 1: Technology and Innovation - ABTC's innovative "de-manufacturing" recycling process utilizes selective hydrometallurgical processing, allowing for high recovery rates of critical materials such as lithium, nickel, cobalt, manganese, copper, and aluminum [3][4] - The two-phase recycling process produces recycled materials in the first phase and refines them into battery-grade products like nickel sulfate and lithium hydroxide in the second phase [3][4] Group 2: Strategic Milestones - ABTC has established a feedstock-agnostic system capable of processing various lithium-ion battery sizes and chemistries, demonstrating sustainable practices with reduced waste and lower environmental impact compared to conventional methods [4] - The company was recognized as the sole winner of the Battery Recycling Circularity Challenge in 2019, highlighting its innovative recycling technologies [5] - In 2021, ABTC received a grant to demonstrate its integrated lithium-ion battery recycling system, focusing on producing battery-grade metals from recycled materials at lower costs and environmental impacts [5] Group 3: Commercialization and Operations - ABTC commenced commercial operations of its recycling technologies in 2023, with its first facility processing lithium-ion batteries and producing intermediate materials like black mass [6][8] - The company has transitioned to 24/7 operations, achieving key milestones such as sourcing large-scale batteries from automotive OEMs and producing low-impurity intermediate black mass material [6][7] - ABTC plans to enhance production quality and scale operations, targeting greater efficiencies and sustainable practices [6][8] Group 4: Future Developments - In 2024, ABTC announced a $144 million grant from the U.S. DOE to construct a second commercial-scale lithium-ion battery recycling facility, which will increase processing capacity by 100,000 tonnes per year [12] - The new facility aims to scale operations fivefold and implement strategic de-manufacturing and chemical extraction processes for battery-grade products [12]