Electra's $30-million (U.S.) placement fully subscribed

Executive Summary

• Electra Battery Materials Corp. announced that its previously disclosed best‑efforts brokered private placement financing of US$30 million is fully subscribed.
• The offering was led by Cantor Fitzgerald Canada Corp. and ECM Capital Advisors Ltd., with strong participation from existing shareholders and new institutional investors.
• Closing is expected around Oct. 17, 2025, subject to shareholder approval at the special meeting on Oct. 15, 2025 and customary regulatory conditions.

Key Details

• Financing amount: US$30 million total investor orders (fully subscribed).
• Structure: Best‑efforts brokered private placement of units; co‑lead agents are Cantor Fitzgerald Canada Corp. and ECM Capital Advisors Ltd., supported by a syndicate of agents.
• Pricing & Units: Units issued at the previously disclosed issue price (exact per‑unit price not restated in this release).
• Use of Proceeds: To strengthen Electra’s capital structure and fund the commissioning of North America’s first battery‑grade cobalt sulphate refinery in Temiskaming Shores, Ontario.
• Agent Option: Agents may sell up to an additional 15 % of units at the issue price if demand persists; interested qualified investors should contact the company promptly.
• Shareholder Participation Deadline: Existing shareholders have until Sept. 26, 2025, 5 p.m. ET to indicate interest.
• Closing Timeline: Anticipated closing on or about Oct. 17, 2025, concurrent with the closing of Electra’s previously announced financial restructuring.
• Conditions Precedent: Closing subject to receipt of shareholder approval at a special meeting scheduled for Oct. 15, 2025, regulatory approvals from the TSX Venture Exchange, and notification to the Nasdaq Stock Market.

Notable Quotes

“We are grateful for the strong support of our shareholders and encouraged by the confidence shown by new institutional investors participating in this financing,” said Trent Mell, Electra chief executive officer.
“This comes at a pivotal moment for Electra, as we move toward commissioning North America's first cobalt sulphate refinery…we are well positioned to deliver long‑term value for shareholders and play a meaningful role in the clean energy transition.”