Electra Battery Materials provides notice of change of Auditors.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Corporation”) announced 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.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the battery economy!
Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
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 processor of low-carbon, ethically-sourced battery materials. Currently commissioning North America’s only cobalt sulfate refinery, Electra is executing a multipronged strategy focused on onshoring the electric vehicle supply chain.
Keys to its strategy are integrating black mass recycling and nickel sulfate production at Electra’s refinery located north of Toronto, advancing Iron Creek, its cobalt-copper exploration-stage project in the Idaho Cobalt Belt, and expanding cobalt sulfate processing into Bécancour, Quebec. For more information visit www.ElectraBMC.com.
READ the latest Batteries News shaping the battery market
Electra Provides Notice of Change of Auditors, Toronto, September 19, 2023
