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Electra Files Third Quarter 2021 Financial Results
Electra Files Third Quarter 2021 Financial Results Canada NewsWire TO...
About this update from Electra Battery Materials Corp
[{"type":"text","content":"\n \n \n \n Electra Files Third Quarter 2021 Financial Results\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 TORONTO\n \n ,\n \n Nov. 29, 2021\n \n /CNW/ -\n \n Electra Battery Materials Corporation\n \n (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\n \n September 30, 2021\n \n .\n \n \n 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 (\n \n www.sedar.com\n \n ) or the Company's website (\n \n www.firstcobalt.com\n \n ).\n \n \n The Company continues to advance its plans to develop\n \n North America's\n \n 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\n \n North America\n \n and the second largest outside of\n \n China\n \n .\n \n \n \n Highlights\n \n \n \n \n Cash of\n \n C$61.2 million\n \n and working capital of\n \n C$62.8 million\n \n as of\n \n September 30, 2021\n \n \n \n \n \n Closing of the refinery construction financing package on\n \n September 2, 2021\n \n for total gross proceeds of approximately\n \n US$45 million\n \n , comprising\n \n US$37.5 million\n \n of 6.95% senior secured convertible notes due\n \n December 1, 2026\n \n and approximately\n \n US$7.5 million\n \n from a common share equity offering. In\n \n October 2021\n \n , an additional\n \n US$7.5 million\n \n of additional convertible notes were issued on the same terms. The total aggregate gross funding received by the Company since the start of\n \n September 2021\n \n is approximately\n \n US$52.5 million\n \n .\n \n \n \n \n Contracts and purchase orders awarded to date of\n \n C$30 million\n \n to advance the refinery along its stated development timeline, including awarding c...