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Electra Battery Materials Provides Notice of Change of Auditors
TORONTO / Sep 19, 2023 / Business Wire / Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced today that
About this update from Electra Battery Materials Corp
[{"type":"text","content":"TORONTO / Sep 19, 2023 / Business Wire / Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced today that it has changed its auditors from KPMG LLP (“Former Auditor”) to MNP LLP, Chartered Professional Accountants (“Successor Auditor”) effective September 18, 2023. At the request of the Corporation, the Former Auditor resigned as the auditor of Electra effective September 14, 2023. Electra’s Board of Directors appointed the Successor Auditor as the Corporation’s auditor effective September 18, 2023 until the next Annual General Meeting of the Corporation. The Former Auditor did not issue any modified opinions on the annual financial statements of the Corporation for the two fiscal years preceding the date its resignation nor for any interim financial information for any subsequent period preceding the date of its resignation. There are no reportable events including disagreements, consultations, or unresolved issues as defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) (Part 4.11) between the Corporation and its Former Auditor. In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the board of directors of the Corporation and filed on SEDAR. 2022 At-the-Market Offering Disclosure Electra also discloses that, further to its previous “at-the-market” offering of Common Shares (the “ATM Offering”) in place pursuant to an amended and restated Equity Distribution Agreement dated May 17, 2022 (the “Distribution Agreement”) between the Corporation and CIBC World Markets Inc. and CIBC World Markets Corp., as placement agents in Canada and the United States, respectively, during the period beginning October 1, 2022 and ended December 26, 2022, the termination date of the Distribution Agreement, the Corporation issued a total of 34,600 Common Shares on the TSXV at an average price of $3.95 per Common Share and 34,870 Common Shares on Nasdaq at an average price of US$2.92 under the ATM Offering, for gross proceeds of $136,607 and US$101,894. Commissions of $3,415 and US$2,547 were paid to CIBC World Markets Inc. and CIBC World Markets Corp., respectively, in relation to these distributions. About Electra Battery Materials Electra is a ...