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Electra Announces Nasdaq Listing Application and Share Consolidation
Electra Announces Nasdaq Listing Application and Share Consolidation Canada New...
About this update from Electra Battery Materials Corp
[{"type":"text","content":"\n \n \n \n Electra Announces Nasdaq Listing Application and Share Consolidation\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 5, 2022\n \n \n /CNW/ -\n \n Electra Battery Materials Corporation\n \n (TSXV: ELBM) (OTCQX: ELBMF) (\"Electra\") announced that in preparation for a potential listing of its common shares on The Nasdaq Stock Market LLC (\"\n \n Nasdaq\n \n \"), the Company will undertake a consolidation (the \"\n \n Consolidation\n \n \") of its outstanding common share capital on the basis of one (1) post-Consolidation share for every eighteen (18) pre-Consolidation shares. The Consolidation was previously approved by shareholders of the Company at the annual general and special meeting held on\n \n December 2\n \n , 2021.\n \n \n \n \n \n \n \n \n \n HIGHLIGHTS\n \n \n \n Uplisting from OTC to Nasdaq provides growth-oriented companies greater exposure to largest capital market in the world\n \n \n \n \n The resulting smaller share count and higher share price is more palatable to U.S. institutional investors. The revised capital structure and resulting higher share price may provide increased ability for U.S. institutional investors to become shareholders of Electra\n \n \n \n \n Target date of\n \n April 11\n \n for share consolidation and the Company hopes to complete the Nasdaq listing by the end of April\n \n \n \n \"The decision to list on the Nasdaq will provide Electra with greater visibility through a leading capital market trading platform that is suited for growth-oriented companies like ours,\" said\n \n Trent Mell\n \n . \"With the commissioning of Phase 1 of our Battery Materials Park expected in December, increased exposure to the largest market in the world coincides with first cash flow. Electra is uniquely positioned to provide a reliable, domestic and low carbon supply of refined battery grade materials for lithium-ion batteries, starting with cobalt at the end of 2022, recycled battery material in 2023 and battery grade nickel thereafter.\"\n \n \n Subject to t...