Electra Battery Materials Corporation acquires and explores resource properties in the United States and Canada, focusing on cobalt, copper, and silver deposits. The company also operates a hydrometallurgical cobalt refinery that produces battery materials for the electric vehicle supply chain. Formerly known as First Cobalt Corp., it changed its name to Electra Battery Materials Corporation in December 2021. Incorporated in 2011, the company is headquartered in Toronto, Canada.
Electra Battery Materials Gets Nasdaq Extension to March 2027 to Regain $1.00 Bid Compliance
Electra Battery Materials Corporation said it has received notice from The Nasdaq Stock Market LLC that it is eligible for an additional 180-calendar-day period, or until March 15, 2027, to regain compliance with Nasdaq's $1.00 minimum bid price requirement for continued listing. The extension has no immediate effect on the listing or trading of the company's common shares on Nasdaq, and Electra said its operations are not affected. Nasdaq's determination was based on the company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, other than the minimum bid price requirement, together with Electra's written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split if necessary. If at any time before March 15, 2027 the closing bid price of the shares is at or above US$1.00 per share for a minimum of 10 consecutive business days, Electra will be eligible to regain compliance, subject to Nasdaq's discretion to require a longer compliance period. The extension does not affect the listing of the shares on the TSX Venture Exchange.
Electra Battery Materials names Peter Rawlins CFO and reports Q2 2026 results
Electra Battery Materials Corporation has appointed Peter Rawlins as Chief Financial Officer, effective August 26, 2026, and filed its second-quarter 2026 financial results. Rawlins brings over two decades of mining finance experience, most recently serving as CFO of Premium Nickel, and succeeds David Allen, who will remain on a part-time basis through refinery construction. The company reported cash and cash equivalents of C$36 million as of June 30, 2026, and noted that construction of its Ontario cobalt sulfate refinery remains on schedule and on budget, with early commissioning expected in the fourth quarter of 2026 and commercial production targeted for the fourth quarter of 2027. Electra also advanced a definitive C$20 million investment agreement with the Government of Canada and launched an engineering study for a potential nickel refinery in the southeastern United States.
Electra Battery Materials Amends Senior Secured Credit Facility for Government Financing Flexibility
Electra Battery Materials Corporation has entered into an amendment to its senior secured credit facility to gain additional flexibility for working capital and government financing initiatives. The amendment increases the amount of permitted indebtedness the company can incur for government financing arrangements and allows payments and liens to secure a portion of that debt on a pari passu basis with existing lenders. All existing guarantees, security, and obligations under the original October 22, 2025 credit agreement remain in full force and have been reaffirmed. The move supports Electra’s ability to finalize related government funding arrangements as it advances North America’s only cobalt sulfate refinery and other critical minerals projects.
Electra Battery Materials reports Q2 ATM proceeds of US$2.1 million and equity participation updates
Electra Battery Materials Corporation provided a quarterly update on its capital markets programs. Under its at-the-market equity program, the company generated gross proceeds of approximately US$2.1 million during the second quarter through the issuance of 3,009,295 common shares at a weighted average price of US$0.68 per share. Employees purchased 26,256 common shares under the Employee Share Purchase Program, with the company acquiring a matching number of shares. The company also granted 91,954 deferred share units to non-employee directors to align their interests with shareholders.
Electra Battery Materials Advances U.S. Nickel Refinery Plan
Electra Battery Materials Corporation has engaged engineering consultants to advance a development study for a potential battery-grade nickel refinery in the southeastern United States. The proposed facility is being evaluated with a target annual production capacity of approximately 15,000 tons of nickel sulfate and metal, along with 1,000 tons of cobalt metal. Chief Executive Officer Trent Mell stated that as the company approaches a key construction milestone for its cobalt sulfate refinery, it is also progressing its longer-term pipeline of critical minerals processing assets. Electra reaffirmed that its cobalt sulfate refinery remains its highest-priority development project and is expected to begin commissioning in the second quarter of 2027. On June 4, the company awarded a structural, mechanical, and piping construction contract valued at approximately C$12.4 million to Ontario-based Kilmarnock Enterprises as part of ongoing construction at the cobalt sulfate refinery complex north of Toronto.
Electra Battery Materials awards C$12.4 million construction package for Ontario cobalt refinery
Electra Battery Materials Corporation has awarded a structural, mechanical, and piping construction package valued at about C$12.4 million to Ontario-based Kilmarnock Enterprises for work at its cobalt sulfate refinery complex north of Toronto. The package covers refinery retrofit, installation, and commissioning-readiness work across multiple process areas, including concrete and civil work, structural steel, process equipment installation, piping fabrication, and commissioning support. Electra said it has now awarded about C$46 million in refinery-related construction packages, with most major construction packages in place and the project remaining in line with the budget and schedule announced in February. The refinery is central to Electra's North American battery-materials platform, while its battery-recycling exposure comes from black mass opportunities tied to end-of-life lithium-ion batteries. Electra said it is advancing black mass recycling opportunities to recover critical materials from end-of-life batteries alongside cobalt refining and other downstream battery-materials work.
Electra shareholders approve all items including reverse split authorization
Electra Battery Materials Corporation announced that shareholders approved all items of business at its 2026 annual general and special meeting held June 23, 2026 in Toronto. A total of 48,202,558 common shares, representing 46.47% of Electra's issued and outstanding common shares, were voted. All seven director nominees were elected with over 98% support each. Shareholders also approved the 2022 amended and restated LTIP, increasing the maximum number of common shares issuable under options to 8,725,000, restricted share units to 440,000, performance share units to 440,000, and deferred share units to 1,385,784. The Employee Share Purchase Plan was approved with an increase in reserved shares from 250,000 to 400,000. Additionally, shareholders ratified grants of 1,600,000 options, 190,459 deferred share units, and 174,000 restricted share units in excess of prior limits, and authorized a potential reverse split at a ratio between one-for-two and one-for-six, to be implemented at the board's discretion.
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