ELBM News & Events

Electra Battery Materials received a notice from Nasdaq stating that the company is not in compliance with the minimum bid price requirement of $1.00 per share. The notice has no immediate effect on the listing or trading of the company's common shares on Nasdaq, and the company's operations are not affected by the receipt of the notice. The company has until September 14 to regain compliance with the Minimum Bid Requirement, during which time the company's common shares will continue to trade on Nasdaq. If the company does not regain compliance with the Minimum Bid Requirement by September 14, the company may be eligible, upon satisfaction of certain Nasdaq listing requirements, for an additional period of 180 calendar days to regain compliance. The company is considering various strategies to regain compliance.

Electra Battery Materials provided a construction progress update for its cobalt sulfate refinery project in Ontario. The project continues to advance beyond detailed engineering, with procurement and installation activities progressing in line with the company's construction plan and budget. The refinery is expected to become North America's only battery-grade cobalt sulfate production facility, with mechanical completion targeted for Q2 of 2027. Electra also completed a comprehensive tailings area testwork program. Purchase orders for key process systems have been awarded. Earlier this year, Electra approved a $73M construction budget and execution schedule designed to advance the refinery through mechanical completion in Q2 2027, with commissioning activities beginning in late 2026 and production ramp-up expected in 2027.

Electra Battery Materials announces that LG Energy Solution has reaffirmed its partnership with Electra through the signing of a new binding term sheet that details the updated contract period for the long-term supply of battery-grade cobalt from Electra's Ontario refinery. "The updated agreement underscores the strength of our long-standing partnership and LG Energy Solution's role as a cornerstone customer in Electra's vision to build a resilient, North American supply chain for critical minerals," said Trent Mell, CEO of Electra Battery Materials. "As we advance construction of North America's only cobalt sulfate refinery, this offtake agreement reflects growing demand for secure and responsibly sourced cobalt and reinforces Electra's position as a first mover in domestic critical minerals processing. With a fully permitted and funded project now under active construction, our focus is on disciplined execution, meeting key build milestones, and delivering a strategic asset that supports North America's critical minerals security priorities."

Electra Battery Materials announced that its Board of Directors has approved a $73M construction budget and established an execution schedule to achieve mechanical completion of its cobalt sulfate Refinery north of Toronto, marking a significant step toward bringing North America's first battery-grade cobalt refinery into operation. Commissioning activities are expected to commence in the fourth quarter of 2026. Mechanical completion is targeted for the second quarter of 2027. Production ramp-up is expected to start during the third quarter of 2027. Achievement of Commercial Production is targeted for the fourth quarter of 2027. The project schedule establishes a clear pathway from construction execution in 2026 to commercial operations in 2027.