Electra Battery Materials Corporation announced a non-brokered private placement of up to 17,241,379 units at an issue price of CAD 1.10 per unit for the gross proceeds of up to CAD 18,965,517 on June 26, 2023. The transaction will include participation from new investor, Three Fires Group Inc. Each unit will consist of one common share and one common share purchase warrant. Each warrant may be exercised at a price of CAD 1.74 per warrant over a 24-month period.

The transaction is subject to approval of the TSX Venture Exchange.