On August 11, 2023, Electra Battery Materials Corp. completed a brokered private placement of 15,000,000 units at a price of $1.10 per unit for gross proceeds of $16.5 million, which includes the full exercise of the agent’s overallotment option. Concurrently with the brokered private placement, Electra sold an aggregate of 4,545,454 units on a non-brokered private placement basis on the same terms as the private placement for additional gross proceeds of $5 million. Each unit consists of one common share of Electra and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $1.74 at any time on or before Aug. 11, 2025.
Cassels acted for Electra.