Electra Provides Notice of Change of Auditors
September 19 2023 - 5:35PM
Business Wire
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V:
ELBM) (“Electra” or the “Corporation”) announced today that it
has changed its auditors from KPMG LLP (“Former Auditor”) to MNP
LLP, Chartered Professional Accountants (“Successor Auditor”)
effective September 18, 2023.
At the request of the Corporation, the Former Auditor resigned
as the auditor of Electra effective September 14, 2023. Electra’s
Board of Directors appointed the Successor Auditor as the
Corporation’s auditor effective September 18, 2023 until the next
Annual General Meeting of the Corporation.
The Former Auditor did not issue any modified opinions on the
annual financial statements of the Corporation for the two fiscal
years preceding the date its resignation nor for any interim
financial information for any subsequent period preceding the date
of its resignation. There are no reportable events including
disagreements, consultations, or unresolved issues as defined in
National Instrument 51-102 – Continuous Disclosure Obligations (“NI
51-102”) (Part 4.11) between the Corporation and its Former
Auditor.
In accordance with NI 51-102, the notice of change of auditor,
together with the required letters from the Former Auditor and the
Successor Auditor, have been reviewed by the board of directors of
the Corporation and filed on SEDAR.
2022 At-the-Market Offering Disclosure
Electra also discloses that, further to its previous
“at-the-market” offering of Common Shares (the “ATM Offering”) in
place pursuant to an amended and restated Equity Distribution
Agreement dated May 17, 2022 (the “Distribution Agreement”) between
the Corporation and CIBC World Markets Inc. and CIBC World Markets
Corp., as placement agents in Canada and the United States,
respectively, during the period beginning October 1, 2022 and ended
December 26, 2022, the termination date of the Distribution
Agreement, the Corporation issued a total of 34,600 Common Shares
on the TSXV at an average price of $3.95 per Common Share and
34,870 Common Shares on Nasdaq at an average price of US$2.92 under
the ATM Offering, for gross proceeds of $136,607 and US$101,894.
Commissions of $3,415 and US$2,547 were paid to CIBC World Markets
Inc. and CIBC World Markets Corp., respectively, in relation to
these distributions.
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”. Forward-looking statements are based on certain
assumptions, and 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. Among the bases for assumptions with respect to the
potential for additional government funding are discussions and
indications of support from government actors based on certain
milestones being achieved. 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. Other factors that could actually results to differ
materially include changes with respect to government or investor
expectations or actions as compared to communicated intentions, and
general macroeconomic and other trends that can affect levels of
government or private investment. Although the Company 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, the Company 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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version on businesswire.com: https://www.businesswire.com/news/home/20230919528453/en/
Joe Racanelli Vice President, Investor Relations
info@ElectraBMC.com 1.416.900.3891
Electra Battery Materials (NASDAQ:ELBM)
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