Electra closes first tranche of oversubscribed private placement

Electra Battery Materials (ELBM) closed the first tranche of its oversubscribed non-brokered private placement previously announced on March 24, raising aggregate gross proceeds of approximately $3.08M Pursuant to the closing of the first tranche of the Offering, 2,747,145 units of the Company were issued at a price of $1.12 per Unit. Each Unit consists of one common share in the capital of the Company and one transferable common share purchase warrant, with each warrant entitling the holder to purchase one common share of the Company at a price of $1.40 at any time for a period of eighteen months following the issue date. The net proceeds raised from the Offering will be used to advance the Company’s Refinery project site in Temiskaming Shores, Ontario and for general corporate purposes. The Company expects to close a second and final tranche of the Offering on or about April 8.