Electra Battery Secures Financing and Plans Stock Split

Electra Battery Materials Corp (TSE:ELBM) has released an update.

Electra Battery Materials Corp has secured $5 million in financing to kickstart operations at its Ontario Refinery project and settle accrued interest on existing convertible notes. The company also plans a reverse stock split to meet Nasdaq’s minimum bid requirements, crucial for avoiding delisting. Electra is focused on enhancing North America’s electric vehicle battery supply chain with its unique cobalt sulfate refinery.

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