Electra Battery Materials Corporation (TSX-V:ELBM, OTCQX:ELBMF) said its listing on the Nasdaq Capital Market has been approved and trading will start on April 27, 2022, under the ticker symbol ELBM.
The company will continue to trade on the TSX Venture Exchange (TSX-V) also under the symbol ELBM, the company said.
"Listing on the Nasdaq is a significant milestone for Electra and a natural next step in the evolution of the company," CEO Trent Mell said in a statement. "With the heightened interest in electric vehicles, decarbonization, critical minerals and onshoring supply chains, we felt it was important to increase our presence in our primary market for our ultra low carbon battery materials."
"We are pleased to offer our shareholders the ability to trade on a major U.S. exchange and the expected increase in liquidity will support our Company well over the long term. We look forward to introducing Electra to a new and larger investor base,” he added.
WATCH: Electra Battery says construction at cobalt sulfate refinery continues on schedule
"Phase 1 of Electra's Battery Materials Park involves the commissioning of North America's first battery-grade cobalt refinery in December of this year. Funding was secured in 2021 to take the hydrometallurgical refinery through construction and into commissioning," Mell concluded.
As trading on Nasdaq starts, Electra's common shares will cease trading on the OTC Markets.
Electra's core strategy is to produce low carbon, ethically sourced battery materials for the North American electric vehicle supply chain. It focuses on creating the first integrated battery materials park in North America, providing refined cobalt, nickel and recycled battery materials.
Contact the author at jon.hopkins@proactiveinvestors.com