Electra Partners with Altitude Capital Consultants
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) is excited to share that it has formed a strategic advisory partnership with Altitude Capital Consultants Inc. This collaboration is aimed at enhancing Electra's plans to develop a battery materials supply chain in North America. Based in Toronto, Ontario, Altitude is led by well-known experts in capital markets and investment banking, Michael Wekerle and Gene McBurney. They will provide valuable insights into capital markets strategies and assess market opportunities for Electra.
CEO Comments on the Collaboration
Trent Mell, Electra’s CEO, expressed his excitement about the partnership with Altitude, saying, “We are thrilled to collaborate with Michael, Gene, and the entire Altitude team. Their impressive history of success as both advisors and investors gives us confidence that we will gain from their expertise as we work on our strategic plans to establish North America's battery materials supply chain.”
Importance of the Cobalt Refinery Project
Michael Wekerle emphasized the significance of Electra's cobalt refinery project in Ontario, describing it as a "perfect storm" that will play a crucial role in advancing the green economy, supporting small-cap mining companies, and benefiting Canadian businesses. He pointed out that this project is vital as it aligns with key trends such as the shift towards renewable energy, the increasing demand for critical minerals like cobalt, and the growth potential for small-cap companies in the resource sector. Wekerle is particularly optimistic about how this initiative can enhance Canada's position in the global green economy by creating essential infrastructure for refining materials needed by G7 nations, while also offering substantial opportunities for investors and promoting development in Northern Ontario.
The Strategic Relevance of the Investment
Gene McBurney, a prominent figure in the Canadian resource sector, noted the timely nature of the U.S. Department of Defense's investment in Electra’s Ontario cobalt project. This investment is strategically significant given the rising demand for critical minerals essential for battery production and national security. McBurney highlighted that Electra's project is well-aligned with North America's goals to secure a reliable domestic supply chain for these vital materials, thereby supporting the region's energy independence and technological leadership.
About Altitude Capital Consultants
Altitude Capital Consultants was co-founded by Michael Wekerle, who currently serves as Managing Partner. Wekerle has an extensive background in capital markets and has been instrumental in numerous high-profile transactions throughout his career. He began his journey with First Marathon, where he rose to become head trader, contributing to significant takeovers in the firm's history. After his tenure at GMP, he established Difference Capital in 2012, investing in several successful ventures. He is also well-known for his role as an investor on the Canadian television series, Dragon's Den.
Gene McBurney's Background
Gene McBurney holds a B.A., M.A., LL.B., and LL.D., and brings over 25 years of international investment banking experience. He is a recognized advisor in the global mining sector and has a proven track record of leading landmark transactions in natural resources, demonstrating his capability to deliver strategic results for clients.
Engagement Terms Overview
Altitude has been engaged for an initial period of twelve months, starting from August 28. As part of this agreement, Electra has granted 1,000,000 incentive stock options to Altitude in accordance with its long-term incentive plan. These options are exercisable at a price of $0.85 for three years and will vest in four quarterly installments over the course of one year. It is important to note that this engagement does not include investor relations or promotional activities, and the Company maintains an arms-length relationship with Altitude and its principals.
About Electra Battery Materials
Electra Battery Materials is a leader in processing low-carbon, ethically sourced battery materials. The company is currently focused on developing North America’s only cobalt sulfate refinery, implementing a phased strategy to localize the electric vehicle supply chain while providing solutions for refining EV battery materials. In addition to the cobalt sulfate refinery, Electra is dedicated to integrating black mass recycling, exploring potential cobalt sulfate processing in Bécancour, Quebec, and evaluating the opportunity for nickel sulfate production within North America.
Contact Information
For further inquiries, please reach out to:
Heather Smiles
Vice President, Investor Relations & Corporate Development
Electra Battery Materials
info@ElectraBMC.com
1.416.900.3891
Frequently Asked Questions
What is the purpose of Electra's partnership with Altitude Capital?
The partnership aims to support Electra's plans to establish a North American battery materials supply chain through strategic advisory services.
Who are the key figures involved in Altitude Capital?
The firm is led by Michael Wekerle and Gene McBurney, both of whom have extensive experience in capital markets and investment banking.
What project is being advanced by Electra Battery Materials?
Electra is advancing its cobalt refinery project in Ontario, which is critical for both the mining sector and the green economy.
How long is the engagement term with Altitude Capital?
Altitude has been engaged for an initial term of twelve months, beginning on August 28.
What are Electra's goals regarding battery materials?
Electra aims to provide a localized and sustainable supply of battery materials, focusing on cobalt sulfate production and related processes.
