Electra Battery Materials Corporation (ELBM) Monday unveiled plans to raise up to $3.5 million through a non-brokered private placement.
The offering consists of units priced at $1.12 each, with each unit including one common share and one transferable warrant. Warrant holders can purchase an additional share at $1.40 within 18 months.
Proceeds will support the company's refinery project in Temiskaming Shores, Ontario, and general corporate purposes. The offering is available to investors in most Canadian provinces under the Listed Issuer Financing Exemption and to select international buyers under Ontario's securities regulations.
ELBM is currently trading at $1.14 or 8.1301% lower on the Nasdaq Capital Market.
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