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Electra Files Year-End 2021 Financial Results

TORONTO, ON – Electra Battery Materials Corporation (TSX-V: ELBM; OTCQX: ELBMF) (“Electra”) today announced the filing of its audited financial results for the year ended December 31, 2021.

For complete details of the consolidated financial statements and the associated management’s discussion and analysis, please refer to the Company’s filing on SEDAR (www.sedar.com) or the Company’s website (www.electrabmc.com).

The Company continues to advance its plans to develop North America’s only Battery Materials Park. In line with phase one of the Company’s strategic plan, Electra remains on schedule to commission its expanded refinery in December 2022, at which time it will become the first refiner of battery-grade cobalt sulfate in North America and the second largest outside of China.

HIGHLIGHTS

  • Cash of C$58.6 million as of December 31, 2021.
  • Closing of an additional US$7.5 million of additional convertible notes in October 2022 on the same terms as the first tranche of convertible notes that closed on September 2, 2021.
  • Refinery capital costs committed of C$38 million (inclusive of C$12 million spent to date), representing 46% of the total capital budget. The solvent extraction design and manufacturing contract was awarded to Metso-Outotec during the fourth quarter.
  • Receipt of final approvals for the Refinery’s Air and Noise permit, Industrial Sewage Works permit, and closure plan.

The Company launched a new at-the-market equity program (the “2022 ATM Program”) in January 2022 for the issuance of up to $20 million in common shares from treasury. The Company has issued a total of 2,754,300 common shares under the 2022 ATM Program at an average price of $0.2964 per share, providing gross proceeds of $816,243.  A commission of $20,406 was paid to CIBC Capital Markets in relation to these distributions.

About Electra Battery Materials

Electra is planning to build a fully integrated, localized and environmentally sustainable battery materials park. Leveraging the Company’s own mining assets and business partners, the Electra Battery Materials Park will host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers. Electra also owns the advanced exploration-stage Iron Creek cobalt-copper project in Idaho, USA. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region’s fast growing electric vehicle industry.

On behalf of Electra Battery Materials.

Trent Mell
Chief Executive Officer

For more information visit www.ElectraBMC.com or contact:

Investor Relations
Sabrina Gunness
[email protected]
+1.416.900.3891

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