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Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) reports that its previously announced best-efforts brokered private placement financing (the “Offering”) is fully subscribed, with investor orders totaling US$30 million. Electra received strong participation from both existing shareholders and new institutional investors.
“We are grateful for the strong support of our shareholders and encouraged by the confidence shown by new institutional investors participating in this financing,” said Trent Mell, Electra CEO. “This comes at a pivotal moment for Electra, as we move toward commissioning North America’s first cobalt sulfate refinery. With a strengthened board of directors and a favorable policy environment supporting critical minerals development, we are well-positioned to deliver long-term value for shareholders and play a meaningful role in the clean energy transition.”
The Offering is being conducted with Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd. acting as co-lead agents, together with a syndicate of agents (the “Agents”), and forms a key part of Electra’s comprehensive plan to strengthen its capital structure and secure funding to advance the commissioning of North America’s first battery-grade cobalt sulfate refinery, located in Temiskaming Shores, Ontario. See September 12, 2025 news release for additional details of the Offering.
Although the order book is fully subscribed, the Company notes that participation in the Offering may still be available for qualified investors through the exercise of the Agents’ Option to sell up to an additional 15% of Units to be issued under the Offering at the Issue Price. Interested investors who wish to be considered for participation under the Agents’ Option should contact the Company or its agents as soon as possible.
Existing shareholders wishing to participate in the Offering have until September 26, 2025, at 5:00pm ET. Shareholders who wish to subscribe should contact the Company as soon as possible to confirm their interest.
The Offering is expected to close on or about October 17, 2025, concurrently with the closing of Electra’s previously announced financial restructuring (the “Restructuring”). Closing remains subject to the receipt of shareholder approval at the special meeting scheduled for October 15, 2025, as well as other customary conditions, including regulatory approvals from the TSX Venture Exchange and notification to the Nasdaq Stock Market.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Any securities sold in the United States shall be sold only to “accredited investors” (as such term is defined in Rule 501(a) under the U.S. Securities Act) pursuant to Rule 506(c) of Regulation D under the U.S. Securities Act.
Electra Battery Materials | www.electrabmc.com
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