TORONTO, July 26,
2022 /CNW/ - Electra Battery Materials
Corporation (NASDAQ: ELBM) (TSX-V: ELBM) ("Electra") today
announced that it has signed a Benefits Agreement with the Métis
Nation of Ontario ("MNO")
solidifying a relationship between the two parties and providing
employment, training, procurement, and business opportunities
related to the construction and expansion of the Company's battery
materials refinery north of Toronto Temiskaming Shores.
"Signing our first Benefits Agreement marks an important
milestone for Electra as we advance with the commissioning of our
refinery," said Trent Mell, CEO of
Electra Battery Materials. "It demonstrates our commitment to
operations that are environmentally, culturally, and socially
responsible, and also reflects our commitment to working with
Indigenous communities in respectful and mutually beneficial
ways."
"We welcome the signing of the Benefits Agreement and Electra's
commitment to support economic, cultural, and educational
activities in the region," said Lorette
McKnight, President of the Métis Nation of Ontario
Temiskaming Métis Council. "The construction of a battery materials
plant in Ontario on the
James Bay and
Abitibi/Temiscamingue Métis Traditional Territories represents an
exciting development that will create many opportunities while also
supporting environmental sustainability through reducing carbon
emissions as a result of the adoption of electric vehicles."
In connection with the Benefits Agreement, Electra has agreed to
issue 20,000 common shares of the Company to the MNO as a means of
providing a measure of economic participation in the success of
Electra's low-carbon battery materials visions. The issuance of the
common shares remains subject to the approval of the TSX Venture
Exchange. Once issued, the common shares will be subject to a
statutory hold period of four-months-and-one-day in accordance with
applicable securities laws.
Electra is advancing with the commissioning of a battery
materials refinery in Temiskaming Shores, Ontario with a plant capacity of 5,100 tonnes
of cobalt in sulfate. In concert with its effort to
commission the refinery, Electra intends to launch a battery
materials recycling demonstration plant in the fall of 2022.
Awards 2022 Electra Excellence Bursaries
Electra also announced that as part of its commitment to
supporting local communities near its refinery, it awarded its 2022
Electra Excellence Bursaries to a deserving student from the
graduating class of each of the following schools: Englehart High
School, Timiskaming District Secondary School, Kirkland Lake
District Composite School, and École Secondaire catholique
Sainte-Marie. Electra
granted each deserving student a $1,000 bursary based on their commitment to
learning and an intention to pursue a post-secondary education.
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 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 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. 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.
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SOURCE Electra Battery Materials Corporation