Electra Provides Corporate Update
February 12 2024 - 7:23PM
Business Wire
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V:
ELBM) (“Electra”, “Company”) announced today that in accordance
with its Long-Term Incentive Plan approved by shareholders at its
October 24, 2023 annual general meeting, the Company has issued
3,150,225 incentive stock options (the “Options”) and 104,938
restricted share units (“RSU”) to certain directors, officers,
employees, and contractors of the Company. The Company will also
settle (the “Share Settlement”) a total of C$157,357 of earned
performance-based incentive cash payments to certain non-officer
employees by issuing a total of 194,268 common shares of the
Company at a deemed price of C$0.81 per share to these
individuals.
The grants are an important long-term retention and incentive
tool for key personnel and are intended to align interests with
shareholders.
The RSUs will vest on the first anniversary of the grant date
and will be settled in cash or shares at the discretion of the
Company. The Options will be exercisable for four years at today’s
closing price of C$0.81 and will vest in two equal tranches, on the
first and second anniversary of the grant date.
Completion of the Share Settlement and the incentive grants
remain 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 focused on developing North America’s only
cobalt sulfate refinery and a black mass refinery, Electra is
executing a multipronged strategy to onshore the electric vehicle
supply chain. Keys to its strategy are integrating black mass
recycling and nickel sulfate production at Electra’s cobalt
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, please 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 completion of long-term
incentive grants and the quantum and terms thereof, and regulatory
approval for the Share Settlement. 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. 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.sedarplus.ca and with on EDGAR
at www.sec.gov. Other factors that could cause actual 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/20240212530085/en/
Heather Smiles Vice President, Investor Relations &
Corporate Development Electra Battery Materials info@ElectraBMC.com
1.416.900.3891
Electra Battery Materials (NASDAQ:ELBM)
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