Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V:
ELBM) (“
Electra” or the
“
Company”) is pleased to announce, in support of
its strategic plans to build a North American battery materials
supply chain, the Company has signed a strategic advisory agreement
with Altitude Capital Consultants Inc.
(“
Altitude”), based in Toronto, Ontario and led by
renowned Canadian capital markets and investment banking experts
Michael Wekerle and Gene McBurney, to provide capital markets
strategy and analysis of market opportunities.
“We are thrilled to work alongside Michael, Gene
and the team at Altitude,” said Electra CEO, Trent Mell. “With
their impressive track record of success, both as advisors and
investors, we are confident we will benefit from their expertise
and experience as we focus on our strategic plans to build North
America’s battery materials supply chain.”
Michael Wekerle is thrilled to be advising
Electra Battery Materials as they advance their cobalt Refinery
project in Ontario, seeing it as a "perfect storm" for the green
economy, small-cap mining companies, and Canadian businesses. He
believes that the project is positioned at the intersection of
several powerful trends: the global shift toward renewable energy,
the increasing demand for critical minerals like cobalt, and the
growth potential for small-cap companies in the resource sector.
Wekerle is particularly excited about the role this project will
play in strengthening Canada's position in the global green
economy, as it is building the critical infrastructure for the
refining of material needed by the G7 nations, while offering
significant opportunities for investors and the development of
Northern Ontario.
Gene McBurney, a prominent figure in the
Canadian resource sector, emphasized the timeliness of the U.S.
Department of Defense's (DoD) investment in Electra Battery
Materials' Ontario-based cobalt project (announced August 19,
2024). He noted that this investment is strategically crucial,
given the growing demand for critical minerals like cobalt,
essential for battery production and national security. McBurney
highlighted that Electra's project aligns perfectly with North
America's broader push to secure a reliable and domestic supply
chain for these vital materials, reinforcing the region's energy
independence and technological leadership.
Altitude was co-founded by Michael Wekerle where
he currently serves as Managing Partner. Mr. Wekerle has had a very
successful career in capital markets. Early in his career he joined
First Marathon and quickly rose up to become the head trader for
the firm, where he was a key player in Roger's takeover of McLean
Hunter in 1994. He then joined GMP (Griffiths McBurney and
Partners) as Vice Chairman of trading, where he was involved with
the 1997 initial public offering of Research in Motion (RIM). In
2012, he formed his own firm, Difference Capital where he invested
in companies such as Thunderbird Films, Vision Critical, Appinions
and HootSuite. Mr. Wekerle is well known for the four seasons
(seasons 9 through 12) that he was an investor on the Canadian
television show, Dragon's Den.
Gene McBurney, B.A., M.A., LL.B., LL.D., has
over 25 years of international investment banking experience and is
an established advisor in the global mining sector. He has a
notable history of leading landmark transactions in natural
resources, demonstrating his capability to deliver strategic
outcomes for his clients.
Altitude has been engaged for an initial term of
twelve months, effective as of August 28, 2024. The Company has
granted 1,000,000 incentive stock options to Altitude in accordance
with its long-term incentive plan. The options are exercisable at a
price of $0.85, for a period of three-years, and vest quarterly in
four equal tranches over a one-year period. The Company is at
arms-length from Altitude and its principals, and the services to
be provided by Altitude do not include investor relations or
promotional activities.
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, Electra is
executing a phased strategy to onshore the electric vehicle supply
chain and provide a North American solution for EV battery
materials refining. In addition to building North America’s only
cobalt sulfate refinery, its strategy includes integrating black
mass recycling, potential cobalt sulfate processing in Bécancour,
Quebec, and exploring nickel sulfate production potential within
North America. For more information, please visit
www.ElectraBMC.com.
Contact
Heather SmilesVice President, Investor Relations & Corporate
Development Electra Battery
Materialsinfo@ElectraBMC.com1.416.900.3891
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.sedarplus.com and with on EDGAR at www.sec.gov. Other factors
that could lead 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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