Recent Updates — ELBM

Electra Battery Materials Corporation provided an update on the construction of its cobalt sulfate refinery in Temiskaming Shores, Ontario. The company confirmed that the project remains within its US$73 million budget and that the site workforce has doubled from approximately 60 to 130 people since August. Construction activities have advanced across all process areas, including equipment installation and building enclosure, with zero lost-time incidents reported. While schedule pressure has emerged regarding FRP process piping fabrication, management anticipates any adjustments will be modest. The company also highlighted commercial progress, noting feedstock secured from Glencore AG through 2031 and production commitments to LG Energy Solution. Electra Battery Materials Corporation operates in the critical minerals sector, focusing on constructing North America's first battery-grade cobalt sulfate refinery.

Electra Battery Materials Corporation has signed a non-binding term sheet with global commodities trader WMC Group AG for a five-year working-capital and commercial partnership. The arrangement supports Electra's Canadian critical minerals refinery by financing cobalt feedstock purchases and corresponding battery-grade cobalt sales, while providing logistics management, market expertise, and access to WMC’s global network. WMC will act as the buyer and exclusive marketing agent for cobalt sulfate production up to nameplate capacity. Additionally, WMC has committed to making an investment in Electra upon execution of definitive agreements. The transaction remains subject to due diligence, regulatory approvals, and customary conditions. Electra Battery Materials Corporation operates in the critical minerals sector, focusing on constructing North America’s only cobalt sulfate refinery and advancing battery materials supply chains.

Electra Battery Materials appointed Garzon Duenas as General Manager and Commissioning Leader, effective October 5, 2026. The hire supports the transition of its Ontario cobalt sulfate refinery from construction through commercial operations. Construction remains on budget with select commissioning activities targeted for Q4 2026, mechanical completion in Q2 2027, full ramp-up in Q3 2027, and commercial production in Q4 2027. The company issued 150,000 incentive stock options to Duenas under its Long-Term Incentive Plan, subject to TSX Venture Exchange approval. Electra Battery Materials operates in the critical minerals sector, constructing North America's first battery-grade cobalt sulfate refinery and developing upstream mining assets.

Electra Battery Materials Corporation reported capital markets activity for the third quarter ended September 30, 2026. The company generated gross proceeds of approximately US$92,000 through the issuance of 150,003 common shares under its at-the-market equity program at a weighted average price of US$0.6152 per share. Additionally, the company purchased 37,341 common shares from employees under its Employee Share Purchase Program and granted 112,676 deferred share units to non-employee directors. Electra Battery Materials Corporation is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries, focusing on constructing a cobalt sulfate refinery and developing mining projects.

Electra Battery Materials Corporation announced preliminary engineering results for a proposed two-phase nickel refinery in North America. The first phase targets an annual production capacity of approximately 20,000 tonnes of contained nickel from mine-derived feedstock and recycled battery black mass, with estimated capital costs ranging from US$530 million to US$675 million. Preliminary modeling indicates nickel and cobalt recoveries of 97% or higher. The company is currently engaging with governments for funding programs and partners for feedstock supply and offtake arrangements, while maintaining its immediate priority on the completion of its Ontario cobalt sulfate refinery. Electra Battery Materials Corporation operates in the critical minerals processing industry, focusing on refining battery materials such as cobalt and nickel to support North American supply chains.

Electra Battery Materials Corporation received notice from Nasdaq granting an additional 180-calendar-day compliance period until March 15, 2027, to regain adherence to the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. This extension allows the company time to restore its share price above the threshold or, if necessary, effect a reverse stock split. The filing confirms that trading and operations remain unaffected by this administrative update. Electra Battery Materials Corporation operates in the critical minerals sector, focusing on constructing North America's only cobalt sulfate refinery and advancing lithium-ion battery supply chain initiatives.