Electra Provides Corporate Update
11 March 2023 - 11:43AM
Business Wire
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V:
ELBM) (“Electra”, or the “Company”) announced
today that in accordance with its 2022 Long-Term Incentive Plan
approved by shareholders at its November 10, 2022 meeting of
shareholders, the Company has issued 421,007 stock options, 313,409
Restricted Share Units (RSU) and 285,417 Deferred Share Units to
certain directors, officers, employees, and contractors of the
Company.
Long-term incentive grants are an important retention and
incentive tool for key employees, and a mechanism to align
interests with shareholders.
DSUs vest immediately but may not be exercised until a director
or officer ceases to serve the Company. RSUs will vest on the first
anniversary of the grant date and will be settled in cash or
shares. The stock options grant holders the right to purchase
common shares of Electra at today’s closing price of $2.40 and will
vest in three equal tranches on the first, second and third
anniversary of the grant date over a four year period. All grants
are subject to the approval of the TSX Venture Exchange.
About Electra Battery Materials
Electra is a processor of low-carbon, ethically-sourced battery
materials. Currently commissioning North America’s only cobalt
sulfate refinery, Electra is executing a multipronged strategy
focused on onshoring the electric vehicle supply chain. Keys to its
strategy are integrating black mass recycling and nickel sulfate
production at Electra’s refinery located north of Toronto,
advancing Iron Creek, its cobalt-copper exploration-stage project
in the Idaho Cobalt Belt, and expanding cobalt sulfate processing
into Bécancour, Quebec. For more information visit
www.ElectraBMC.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and
forward-looking information (together, “forward-looking
statements”) within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as “plans”,
“expects', “estimates”, “intends”, “anticipates”, “believes” or
variations of such words, or statements that certain actions,
events or results “may”, “could”, “would”, “might”, “occur” or “be
achieved”. Such forward-looking statements include, without
limitation, statements regarding the attributes of the Notes, the
closing date of the Note Offering, the listing of the underlying
Common Shares and the expected use of proceeds of the Offering.
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. Factors that could cause actual results
to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other
disclosures of risk factors for Electra Battery Materials
Corporation, filed on SEDAR at www.sedar.com and with on EDGAR at
www.sec.gov. Although Electra Battery Materials Corporation
believes that the information and assumptions used in preparing the
forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date
of this news release, and no assurance can be given that such
events will occur in the disclosed times frames or at all. Except
where required by applicable law, Electra Battery Materials
Corporation disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230310005433/en/
Joe Racanelli Vice President, Investor Relations
info@ElectraBMC.com 1.416.900.3891
Electra Battery Materials (NASDAQ:ELBM)
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