Elevra Lithium Limited (ELVR) raises C$65m in convertible notes for NAL expansion
Rhea-AI Filing Summary
North American lithium producer Elevra Lithium Limited has issued a C$65 million Upfront Tranche of Convertible Notes to a subsidiary of Canada Growth Fund Inc. under a previously announced strategic financing package, following shareholder approval at an extraordinary general meeting on 16 July 2026.
The notes mature five years from their 31 July 2026 issue date, accrue interest at CORRA floored at zero plus 2.25% per annum, payable semi-annually, and are convertible into Elevra ordinary shares at A$17.17 per share from the first anniversary until shortly before maturity. Proceeds are intended to fund the staged expansion of the North American Lithium brownfield project and provide additional liquidity for capital management. A further C$80 million Conditional Tranche of Convertible Notes remains subject to shareholder approval, Elevra’s election to draw, and other customary conditions. Following this issue, 65,000,000 unquoted Convertible Notes are on issue alongside 194,016,029 quoted ordinary shares.
Positive
- None.
Negative
- None.
Filing Explained
The filing confirms that the C$65 million tranche was issued on
Key Figures
Upfront Tranche size: C$65 million
Number of Convertible Notes: 65,000,000
Issue price per Note: CAD 1
+5 more
8 metrics
Upfront Tranche size
C$65 million
Upfront Tranche of Convertible Notes issued to a subsidiary of Canada Growth Fund Inc.
Number of Convertible Notes
65,000,000
Unquoted Convertible Notes issued on 31/7/2026 as a new ASX security class.
Issue price per Note
CAD 1
Cash consideration per Convertible Note in the new unquoted class.
Face value of Notes
CAD 65,000,000.
Face value of the Convertible debt securities class.
Interest margin
2.25 %
Margin per annum above the reference rate on the Convertible Notes.
Maturity date
31/7/2031
Maturity of the Convertible Notes, five years from the 31/7/2026 issue date.
Conversion price
A$17.17
Share conversion price per Elevra ordinary share for the Upfront Tranche.
Ordinary shares on issue
194,016,029
Total ELV ORDINARY FULLY PAID shares quoted on ASX after the note issue.
Key Terms
Convertible Notes, Brownfield Expansion, CORRA, performance rights, +1 more
5 terms
Convertible Notes financial
"issuance of the C$65 million Upfront Tranche of Convertible Notes"
Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.
Brownfield Expansion financial
"to support the North American Lithium (“NAL”) Brownfield Expansion"
CORRA financial
"will accrue interest at CORRA (floored at zero) plus 225 basis points"
CORRA is the Canadian Overnight Repo Rate Average, a short-term benchmark that reflects the typical cost of secured overnight borrowing in Canada’s money market. Investors use it like a thermometer for short-term interest conditions: changes in CORRA shift expectations for borrowing costs and return benchmarks, which influences pricing on floating-rate loans, bonds, derivatives and the financing costs of companies.
performance rights financial
"ELVAM PERFORMANCE RIGHTS | 2,459,812"
Performance rights are conditional awards that give employees or executives the promise of receiving company shares or cash only if the business meets specific targets or survives for a set period. They work like a bonus you only get when certain goals are hit, so they matter to investors because they can increase the number of shares outstanding (dilution), signal management’s incentives and confidence in future results, and affect per-share earnings and valuation.
+Convertible debt securities financial
"+Convertible debt securities Details Type of +security Convertible note"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What financing did Elevra Lithium (ELVR) complete in August 2026?
Elevra completed a C$65 million Upfront Tranche of Convertible Notes issued to a subsidiary of Canada Growth Fund Inc. The financing, approved by shareholders on 16 July 2026, supports the North American Lithium brownfield expansion and provides additional liquidity for capital management.
What are the key terms of Elevra Lithium (ELVR)'s C$65 million Convertible Notes?
The Convertible Notes have a face value of CAD 65,000,000, mature on 31/7/2031, and pay floating-rate interest at CORRA plus 2.25% per annum, with semi-annual payments. They are unquoted on ASX and classified as convertible debt securities in a new security class.
What is the status of Elevra Lithium (ELVR)'s additional C$80 million Conditional Tranche?
The C$80 million Conditional Tranche of Convertible Notes has not yet been issued. It remains subject to conditions, including obtaining shareholder approval, Elevra’s election to draw on the facility, and satisfaction of other customary conditions under the strategic financing package.
How are Elevra Lithium (ELVR)'s new Convertible Notes treated on ASX?
The C$65 million of Convertible Notes are a new unquoted class of +Convertible debt securities on ASX. 65,000,000 notes were issued on 31/7/2026 at CAD 1 each, and all securities in the class rank equally from their issue date.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
Commission File Number 001-42819
ELEVRA LITHIUM LIMITED
(Translation of registrant’s name into English)
Level 3,
10 Eagle Street
Brisbane, Queensland 4000
Australia
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Elevra Lithium Limited (the “Registrant”) is filing the following exhibits on this Report on Form 6-K, each of which is hereby incorporated by reference:
Exhibit
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No.
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Description
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99.1
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Announcement filed by the Registrant with the Australian Securities Exchange on August 3, 2026 – Elevra Announces Issuance of Upfront Tranche of Convertible Notes.
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99.2
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Appendix 3G – Notification of issue, conversion or payment up of unquoted equity securities, filed by the Registrant with the Australian Securities Exchange on August 3, 2026.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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ELEVRA LITHIUM LIMITED
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||
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Date: August 4, 2026
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By:
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/s/ Dylan Roberts
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Name: Dylan Roberts
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Title: Company Secretary and General Counsel
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Exhibit 99.1
ASX ANNOUNCEMENT
3 August 2026
Elevra Announces Issuance of Upfront Tranche of Convertible Notes
North American lithium producer Elevra Lithium Limited (“Elevra” or
“Company”) (ASX:ELV; NASDAQ:ELVR) is pleased to announce the issuance of the C$65 million Upfront Tranche of Convertible Notes (the “Upfront Tranche”) to a subsidiary of Canada Growth Fund
Inc. (“CGF”) pursuant to the previously announced Strategic Financing Package1 to support the North American Lithium (“NAL”) Brownfield Expansion.
The issuance of the Upfront Tranche was approved by shareholders at the Company’s Extraordinary General Meeting held on 16 July 20262. Proceeds from the financing will
be used to fund the staged expansion of NAL, and to provide additional liquidity to ensure capital management adequacy.
The Upfront Tranche will have a maturity of five years from the issue date and will accrue interest at CORRA (floored at zero) plus 225 basis points per annum, payable semi-annually in arrears. The
conversion price per share for the Upfront Tranche is A$17.17, and conversion will be permitted from the first anniversary of the issue until shortly before maturity3.
The Upfront Tranche forms part of the broader financing package announced by the Company in May 2026, comprising equity financing and two tranches of Convertible Notes. Together, the financing fully
funds the planned NAL Brownfield Expansion and supports Elevra’s strategy to increase annual production capacity and reduce unit operating costs, which will underpin the Company’s transition towards becoming a more resilient and globally relevant
lithium producer.
The issuance of the C$80 million second tranche of Convertible Notes (the “Conditional Tranche”) remains subject to the satisfaction of certain conditions,
including obtaining shareholder approval, Elevra’s election to proceed with drawing down on the facility, and the fulfilment of other customary conditions1.
Announcement authorised for release by Elevra’s Managing Director/CEO.
About Elevra Lithium
Elevra Lithium Limited is a North American lithium producer (ASX:ELV; NASDAQ:ELVR) with projects in Québec, Canada, United States, and Western Australia.
Elevra’s assets comprise North American Lithium (100%), a 60% stake in the Moblan Lithium Project in Central Québec and the Carolina Lithium project (100%) in the United States.
1 See ASX release dated 12 May 2026 “Elevra Announces Transformational Financing Package to Accelerate Growth”.
2 See ASX release dated 16 July 2026 “2026 Extraordinary General Meeting Results”.
3 See Elevra’s “Strategic Funding Presentation” dated 12 May 2026 and Annexure A of the Notice of Extraordinary General
Meeting released to ASX on 12 June 2026 for a summary of key terms of the Convertible Notes.
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ELEVRA LITHIUM • Level 3, 10 Eagle Street • Brisbane QLD 4000 • Australia
+61 7 3369 7058 • info@elevra.com • ASX:ELV | NASDAQ:ELVR • ABN 26 091 951 978
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elevra.com |
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.
For more information, please visit us at www.elevra.com or contact:
Andrew Barber
Investor Relations
PH: +617 3369 7058
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ELEVRA LITHIUM
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2 |
Exhibit 99.2
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Announcement Summary
Entity name
ELEVRA LITHIUM LIMITED
Date of this announcement
Monday August 03, 2026
The +securities the subject of this notification are:
+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX
Total number of +securities to be issued/transferred
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ASX +security
code
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Security description
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Total number of
+securities to be issued/transferred
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Issue date
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||
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New class - code to be confirmed
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Convertible Notes
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65,000,000
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31/07/2026
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Refer to next page for full details of the announcement
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 1 - Entity and announcement details
1.1 Name of entity
ELEVRA LITHIUM LIMITED
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.
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1.2 Registered number type
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Registration number
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| ABN | 26091951978 |
1.3 ASX issuer code
ELV
1.4 The announcement is
New announcement
1.5 Date of this announcement
3/8/2026
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 2 - Issue details
2.1 The +securities the subject of this notification are:
+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX
Previous Appendix 3B details:
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Announcement Date and
Time
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Announcement Title
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Selected Appendix 3B to submit quotation
request
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12-May-2026 16:09
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New - Proposed issue of securities - ELV
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A placement or other type of issue
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2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?
Yes
2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B
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Issue of the Conditional Tranche comprising 80,000,000 Convertible Notes. The issue of the Conditional Tranche is subject to the satisfaction (or waiver) of the relevant conditions precedent on or before 30 June 2028,
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B
Placement Details
ASX +security code and description
new unquoted class of security
Date the +securities the subject of this notification were issued
31/7/2026
Any other information the entity wishes to provide about the +securities the subject of this notification
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N/A
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Issue details
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Number of +securities
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65,000,000
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Were the +securities issued for a cash consideration?
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Yes
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In what currency was the cash consideration being paid?
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What was the issue price per +security?
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CAD - Canadian Dollar
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CAD 1.00000000
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 3C - number and type of +securities the subject of this notification (new class)
| ASX +security code |
+Security description | |||
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New class - code to be confirmed
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Convertible Notes
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|||
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+Security type
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ISIN code
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|
+Convertible debt securities
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|
Date the +securities the subject of this notification were issued
31/7/2026
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued
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https://announcements.asx.com.au/asxpdf/20260612/pdf/070k6pzzp12fcx.pdf
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+Convertible debt securities Details
Type of +security
Convertible note or bond
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+Security currency
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Face value
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Interest rate type
|
|
CAD - Canadian Dollar
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CAD 65,000,000.00000000
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Floating rate
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|
Frequency of coupon/interest payments per year
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First interest payment date
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Semi-annual
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31/1/2027
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Does the interest rate include a reference rate, base rate or market rate (e.g. BBSW or CPI)?
Yes
What is the reference rate, base rate or market rate?
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CORRA (floored at zero) + 225 bps margin per annum, accrued daily and payable in cash semi-annually in arrears on the principal amount of the Convertible Notes outstanding. CORRA is a base rate.
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Does the interest rate include a margin above the reference rate, base rate or market rate?
Yes
What is the margin above the reference rate, base rate or market rate (expressed as a percent per annum)?
2.25 %
s128F of the Income Tax Assessment Act status applicable to the +security
s128F exemption status unknown
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Is the +security perpetual (i.e. no maturity)?
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Maturity date
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No
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31/7/2031
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Select other feature(s) applicable to the +security
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Convertible
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Is there a first trigger date on which a right of conversion, redemption, call
or put can be exercised (whichever is first)?
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If yes, what is the first trigger date?
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Yes
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31/7/203
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Details of the existing class of +security that will be issued if the securities are converted, transformed or exchanged
ELV : ORDINARY FULLY PAID
Any other information the entity wishes to provide about the +securities the subject of this notification
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The issue of this Tranche 1 of the Convertible Notes was approved by the Company’s shareholders at an Extraordinary General Meeting of the Company on 16 July 2026 - see results of meeting: https://announcements.asx.com.au/asxpdf/202 60716/pdf/071s03w5svf1bd.pdf
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Issue details
Number of +securities
65,000,000
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 4 - +Securities on issue
Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:
The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity’s current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are
currently with ASX for processing.
4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)
| ASX +security code and description |
Total number of
+securities on issue
|
|
|
|
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ELV : ORDINARY FULLY PAID
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194,016,029
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4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)
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Total number of
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|
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ASX +security code and description
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+securities on issue
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ELVAM : PERFORMANCE RIGHTS
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2,459,812
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ELVAB : OPTION EXPIRING 12-MAY-2029 EX $18.30
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56,678
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ELVAN : OPTION EXPIRING 31-DEC-2028 EX $4.80
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8,000,000
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New class - code to be confirmed : Convertible Notes
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65,000,000
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