TORONTO, Nov. 29, 2021 /CNW/ - Electra Battery Materials Corporation (TSXV: FCC) (OTCQX: FTSSF) ("Electra" or the "Company") today announced the filing of its unaudited financial results for the three and nine-month period ended
For complete details of the condensed interim consolidated financial statements and the associated management's discussion and analysis, please refer to the Company's filing on SEDAR (www.sedar.com) or the Company's website (www.firstcobalt.com).
The Company continues to advance its plans to develop North America's only Battery Materials Park. In line with phase one of the Company's strategic plan, Electra remains on schedule to commission its expanded refinery in the fourth quarter 2022, at which time it will become the only refiner of battery-grade cobalt sulfate in North America and the second largest outside of China.
Highlights
Cash of C$61.2 million and working capital of C$62.8 million as of September 30, 2021
Closing of the refinery construction financing package on September 2, 2021 for total gross proceeds of approximately US$45 million, comprising US$37.5 million of 6.95% senior secured convertible notes due December 1, 2026 and approximately US$7.5 million from a common share equity offering. In October 2021, an additional US$7.5 million of additional convertible notes were issued on the same terms. The total aggregate gross funding received by the Company since the start of September 2021 is approximately US$52.5 million.
Contracts...
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