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Electra Battery Materials Corp (ELBM) drives innovation in sustainable battery material production, specializing in North American cobalt refining for electric vehicle supply chains. This resource provides investors and industry stakeholders with timely updates on strategic initiatives shaping the clean energy transition.
Access authoritative coverage of ELBM's operational milestones, including refinery developments, partnership announcements, and sustainability progress. Our curated news collection simplifies tracking of material processing advancements and supply chain innovations critical to EV manufacturing.
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Bookmark this page for streamlined monitoring of ELBM's role in building ethical battery material ecosystems. Regular updates provide insights into North America's growing capacity for low-carbon critical mineral processing.
Electra (NASDAQ: ELBM) announced results from its special meeting held on October 15, 2025 in Toronto.
Shareholders elected all seven director nominees with each receiving over 95% support; David Stetson was appointed Chair and John Pollesel became Lead Director. The meeting approved: (i) previously announced Restructuring Transactions with certain convertible note holders; (ii) the creation of a Control Person designation related to those transactions; and (iii) an amendment authorizing a reverse stock split of up to 1-for-3.5 (final ratio at board discretion). A total of 2,123,906 common shares (about 12% of issued shares) were represented at the meeting.
Electra Battery Materials (NASDAQ: ELBM) warns that the ongoing Canada Post strike has disrupted mailing of its Meeting Materials for the Annual General and Special Meeting. Shareholders are urged to obtain control numbers and vote online before the deadline. The Meeting is set for October 15, 2025 and votes must be received by 10:00 a.m. ET on October 10, 2025. Shareholder approval is being sought for restructuring transactions and board elections including Gerard Hueber and Jody Thomas. Contact details and voting instructions are provided.
Electra Battery Materials (NASDAQ: ELBM) has successfully secured full subscription for its US$30 million private placement financing, attracting both existing shareholders and new institutional investors. The offering, co-led by Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd., is crucial for funding North America's first cobalt sulfate refinery in Temiskaming Shores, Ontario.
The financing includes an Agents' Option for up to 15% additional Units and is expected to close around October 17, 2025, concurrent with the company's financial restructuring. The closing requires shareholder approval at the October 15 special meeting and regulatory approvals from TSX Venture Exchange and Nasdaq.
Electra Battery Materials (NASDAQ: ELBM) has nominated Jody Thomas, former National Security and Intelligence Advisor to the Prime Minister of Canada, to its Board of Directors. Thomas brings extensive experience in national security, defense, and public administration, having served as Deputy Minister of National Defence and Commissioner of the Canadian Coast Guard.
Thomas will stand for election at Electra's Annual General Meeting on October 15, 2025. If approved, she will join a seven-member board, following recent appointments of David Stetson and Gerard Hueber. Her nomination aligns with Electra's strategy to strengthen North America's critical minerals supply chain for electric vehicle batteries.
Electra Battery Materials (NASDAQ: ELBM) has announced significant amendments to its recapitalization and restructuring initiative, focusing on the completion of North America's first battery-grade cobalt sulfate refinery. The company will convert approximately US$41.3 million of outstanding Notes plus accrued interest into about 55 million units at US$0.75 per Unit.
The restructuring will reduce 60% of convertible debt, lowering total debt to US$27.5 million. The remaining 40% will be converted into a new three-year term loan. Each Unit consists of one Common Share and one Warrant, with Warrants exercisable at US$1.25 per share for 36 months. Additionally, the company will issue a one-time bonus of 3,822,341 common shares at US$0.90 per share to the Lenders.
Electra Battery Materials (NASDAQ: ELBM) has announced terms for a US$30 million brokered private placement to support its ongoing financial restructuring. The offering includes a minimum of 40 million units at US$0.75 per unit, with each unit comprising one common share and one purchase warrant exercisable at US$1.25.
The financing, supported by a US$10 million conditional commitment from Lenders, will primarily fund the completion of North America's first battery-grade cobalt sulfate refinery in Temiskaming Shores, Ontario. The offering is expected to close around October 15, 2025, subject to shareholder approval and regulatory clearances.
Proceeds will also advance the company's black mass recycling program, repay US$2 million in promissory notes, and support working capital needs. If proceeds exceed US$34.5 million, excess funds will be used to repurchase senior secured convertible notes.
Electra Battery Materials (NASDAQ: ELBM) has secured a term sheet for C$17.5 million in proposed funding from Invest Ontario for its cobalt sulfate refinery construction in Temiskaming Shores. The facility, requiring a total investment of C$100 million, will be North America's first dedicated battery-grade cobalt sulfate refinery with an annual production capacity of 6,500 tonnes, enough to support 1 million electric vehicles.
The project has garnered significant government support, including a US$20 million award from the U.S. Department of Defense, with total potential government funding reaching US$48 million. The company is implementing a restructuring plan targeting ~60% reduction in convertible debt and a US$30 million equity raise. The facility will create over 50 new jobs and serve as a foundation for future battery materials initiatives.
Electra Battery Materials Corporation (NASDAQ: ELBM) has nominated Gerard Hueber, Rear Admiral, U.S. Navy (Retired), to its Board of Directors. Hueber brings extensive experience from his naval career and most recently served as Vice President of Naval Power Requirements and Capabilities at Raytheon, overseeing an $8 billion naval portfolio.
The nomination follows Electra's recently announced restructuring and recapitalization from August 21, 2025, and comes after the addition of David Stetson to the board. Hueber's appointment aims to strengthen the company's strategic position in delivering critical minerals for North America's energy security and reducing reliance on China.
Electra Battery Materials (NASDAQ: ELBM) has completed its early works program at its cobalt refinery north of Toronto, marking a significant step toward full construction restart. The program focused on advancing the solvent extraction (SX) facility, a crucial component for producing battery-grade cobalt.
Key accomplishments include concrete foundation work for SX tanks, processing equipment installation, structural roofing, and infrastructure upgrades. The project, supported by government funding, positions Electra's facility as North America's only refinery designed to produce battery-grade cobalt sulfate at scale.
Electra Battery Materials (NASDAQ: ELBM) has appointed industry veteran David Stetson to its Board of Directors. Stetson brings significant leadership experience, notably his successful tenure as CEO of Alpha Metallurgical Resources where he increased market capitalization from $50 million to over $4 billion and eliminated $800 million of debt.
The appointment coincides with Electra's recently announced recapitalization process with its senior secured convertible noteholders. As part of this process, the company has closed a $2 million Bridge Financing through unsecured 90-day 12.00% promissory notes. Stetson joins as a board nominee of the Lenders, supporting Electra's efforts to strengthen its balance sheet and advance North America's critical minerals supply chain initiatives.
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