Electra approved to list on Nasdaq Capital Markets; Management will ring the closing bell

TORONTO, April 26, 2022 /CNW/ – Electra Battery Materials Corporation (TSXV: ELBM) (OTCQX: ELBMF) (“Electra”) today announced that the Nasdaq Stock Market LLC has approved the listing of Electra common stock on the Nasdaq Capital Market (“Nasdaq”). Electra will begin listing on the Nasdaq on April 27, 2022, under the symbol “ELBM”. Electra’s common shares will continue to trade on the TSX Venture Exchange (TSX-V) under the symbol “ELBM”.

Visit www.ElectraBMC.com (CNW Group/Electra Battery Materials Corporation)

“Listing on Nasdaq is an important milestone for Electra and a natural next step in the evolution of the company,” Mr. Thirty Mell, CEO. “With the increased interest in electric vehicles, decarbonization, critical minerals and overseas supply chains, we felt it was important to increase our presence in our core market for our battery materials. ultra-low carbon We are pleased to offer our shareholders the ability to trade on a major US exchange and the expected increase in liquidity will support our company over the long term We look forward to introducing Electra to a new wider investor base.

“Phase 1 of Electra’s Battery Materials Park includes the commissioning of North America first battery-grade cobalt refinery in December of this year. Funding was secured in 2021 to move the hydrometallurgical refinery through construction and commissioning.”

Along with the start of trading on the Nasdaq, Electra common stock will cease trading on OTC markets. Shareholders are not required to take any action. Electra recommends investors who have purchased stocks on the OTC markets monitor their brokerage accounts to ensure their holdings are updated to correctly reflect the new ticker symbol.

Electra will ring the Nasdaq closing bell

Management will participate in a closing ceremony at the Nasdaq Stock Market on Wednesday, April 27, 2022 of 3:45 p.m. to 4 p.m. ETon the occasion of his registration. Thirty MellCEO, will ring the closing bell alongside members of the Electra team.

The bell ringing event can be viewed on the Nasdaq.com live stream at: https://livestream.com/accounts/27896496/events/10228408

About Electra Battery Materials

Electra’s core strategy is to produce low-carbon, ethically sourced battery materials for the North American electric vehicle supply chain. The Company is particularly focused on the creation of the first integrated fleet of materials for batteries in North Americasupplying refined cobalt, nickel and recycled battery materials to North American battery precursor manufacturers.

The first phase of this strategy is to expand and bring into production the Company’s ultra-low carbon hydrometallurgical refinery in Ontario, Canada. Phase 1 construction is on schedule to begin commissioning of the expanded refinery in December 2022 and an initial ramp-up to 5,000 tonnes of confined cobalt production per year, with steady-state production achieved by mid-2023. Subject to future permits and market conditions, the Company expects to increase production capacity to a production rate of 6,500 tonnes per year by mid-2024.

Prior to the commissioning of its cobalt sulfate refinery, Electra intends to complete bulk sample processing of lithium-ion battery material known as “black mass” in the third quarter, drawing leveraging existing refining infrastructure. The goal is to demonstrate the effectiveness of its flowsheet to recover the majority of the lithium, nickel, cobalt, copper and graphite content of lithium batteries before the construction of its commercial plant, which is scheduled for 2023.

A study is underway in partnership with the government of Canadathe government of OntarioGlencore plc and Talon Metals on the engineering, permits, socio-economic studies and costs associated with the construction of a nickel sulphate plant and an adjacent precursor cathode active materials (PCAM) plant at Electra’s cobalt refinery and recycling plant.

Electra also owns the advanced-stage Iron Creek cobalt-copper project in Idaho, United States. Electra is positioning itself to be an integral part of the North American battery supply chain by providing low-carbon, sustainable and traceable raw materials for the region’s fast-growing electric vehicle industry.

On behalf of Electra Battery Materials Corporation

Thirty Mell
Chief executive officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of the applicable headings. All statements, other than statements of historical fact, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terms such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations thereof. of such words, or statements that certain actions, events, or results “could”, “could”, “would”, “could”, “occur”, or “would be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Forward-looking statements in this press release include statements about the timing of trading on the Nasdaq, trading liquidity and characteristics of the investment base. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to, the delay in the commencement of trading of Electra common stock on the Nasdaq and the other risks described under the headings “ Financial Risk Factors” and “Business Risks and Uncertainties” in Electra’s management report for the year December 31, 2021 and under the heading “Risk Factors” in Electra’s Annual Information Form for the year ended December 31, 2021. Although Electra believes that the information and assumptions used in preparing forward-looking statements are reasonable, undue reliance should not be placed on such statements, which speak only as of the date of this press release, and no assurances cannot be given that such events will occur within the time disclosed or not at all. Except as required by applicable law, Electra disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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SOURCE Electra Battery Materials Corporation

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