<SEC-DOCUMENT>0001104659-24-089729.txt : 20240814
<SEC-HEADER>0001104659-24-089729.hdr.sgml : 20240814
<ACCEPTANCE-DATETIME>20240814170554
ACCESSION NUMBER:		0001104659-24-089729
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240813
FILED AS OF DATE:		20240814
DATE AS OF CHANGE:		20240814

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Electra Battery Materials Corp
		CENTRAL INDEX KEY:			0001907184
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41356
		FILM NUMBER:		241209376

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 20059
		STREET 2:		BAY ADELAIDE P.O.
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 0A1
		BUSINESS PHONE:		416-900-3891

	MAIL ADDRESS:	
		STREET 1:		ELECTRA HEAD OFFICE
		STREET 2:		401 BAY STREET, 6TH FLOOR
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 2Y4
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2420232d2_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Washington,
D.C. 20549</B></FONT></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM&nbsp;6-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>Report
of Foreign Private Issuer Pursuant to Rule&nbsp;13a-16 or 15d-16</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>of
the Securities Exchange Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 200px; padding-top: 9pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">For the month of</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 9pt"><B>August</B></TD>
    <TD STYLE="width: 48px; padding-top: 9pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 96px; padding-top: 9pt"><FONT STYLE="font-size: 10pt"><B>2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 9pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Commission File Number</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 9pt"><FONT STYLE="font-size: 10pt"><B>001-41356</B></FONT></TD>
    <TD STYLE="padding-top: 9pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 9pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: center"><FONT STYLE="font-size: 24pt"><B>Electra Battery Materials
    Corporation</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Translation of registrant&rsquo;s name into English)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>133 Richmond
    Street West, Suite&nbsp;602<BR>
    Toronto, Ontario, Canada</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>M5H 2L3</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(416) 900-3891</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Form&nbsp;20-F
 &nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT>
 &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Form&nbsp;40-F <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Indicate by check mark if the registrant
is submitting the Form&nbsp;6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Indicate by check mark if the registrant
is submitting the Form&nbsp;6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>DOCUMENTS INCLUDED
AS PART&nbsp;OF THIS REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="tm2420232d2_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm2420232d2_ex99-1.htm" STYLE="-sec-extract: exhibit">News Release dated August 14, 2024</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><I>Electra Battery Materials Corporation</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="3">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">August 14, 2024</TD>
<TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Trent Mell</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="4"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
<TD><FONT STYLE="font-size: 10pt">Trent Mell</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="4"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
<TD STYLE="padding-left: 3.15pt; text-indent: -3.15pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director</FONT></TD></TR>
<TR>
<TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 15%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 42%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2420232d2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
99.1</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;<IMG SRC="tm2420232d2_ex99-1img001.jpg" ALT=""></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right; width: 15%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N<B>EWS
                                            RELEASE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NASDAQ:
ELBM</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TSX.V:
ELBM</B></FONT></P>
</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Electra
Announces Agreement Regarding Outstanding Convertible Notes Interest and Filing of Second Quarter 2024 Financial Reports</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Toronto,
Ontario &ndash; (August 14, 2024) &ndash; <B>Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM)</B> (&ldquo;Electra&rdquo;
or the &ldquo;Company&rdquo;) is pleased to announce that the Company and the holders of US$51 million principal amount of 8.99% senior
secured convertible notes have agreed that all accrued interest owing to August 15, 2024, on the convertible notes will be &ldquo;paid-in-kind,&rdquo;
not in cash, and added to the outstanding principal amount of the notes. As a result of this agreement, the Company will issue additional
notes in the principal amount of US$6.5 million. The Company also announces the filing of its second quarter financial results.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
Allen, Electra&rsquo;s CFO, said regarding the noteholder agreement, &ldquo;We are grateful for our lenders&rsquo; continued support
of our vision and business plan. This agreement allows us to&#8239;preserve liquidity and allocate capital towards funding the completion of the cobalt refinery project
rather than paying interest in cash.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electra&rsquo;s
CEO, Trent Mell, said &ldquo;The cobalt refinery continues to be our primary focus, with the objective of resuming construction shortly
after funding is secured. We have maintained rigorous management of our financial resources throughout the quarter and the recent agreement
with our lenders further reflects this rigor. The Canadian Refinery is our flagship asset and will be the first of its kind in North
America. Beyond refining cobalt hydroxide to produce cobalt sulfate for the battery market, we are exploring battery recycling to close
the loop within the supply chain. In June, the Government of Canada entered a $5 million funding agreement with Electra to support the
next phase of our battery recycling program. This continued support demonstrates a recognized importance of onshoring the battery supply
chain and reducing reliance on China.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Recent
market reports have alluded to a slowing of EV growth rates for some EV manufacturers, but the outlook remains exceptionally strong,&rdquo;
 Mell&#8239;continued. &ldquo;With global demand for EVs expected to increase by 22% in 2024, according to Rho Motion, and more than 90% of
cobalt chemical, the material used for batteries, coming from refineries in China, the urgency to diversify the supply chain to meet
the growth challenges ahead is becoming more pressing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mell<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
concluded, &ldquo;Through our partnerships with ERG and Glencore, we have secured feed material to meet the full capacity of our refinery.
Customer demand for our cobalt sulfate production far exceeds our production capacity and LG Energy Solutions has already secured up
to 80% of our production. We are strategically positioned to be a foundational component of the North American battery supply chain.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
8.99% senior secured convertible notes were issued pursuant to an indenture dated February 13, 2023, entered into among the Company,
GLAS Trust Company LLC, as trustee for the notes and the noteholders. A supplemental indenture to the note indenture will be entered
into which will govern the additional notes, a copy of which will be filed on SEDAR+ at <U>www.sedarplus.com</U> and with on EDGAR at
<U>www.sec.gov</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
payment in kind and the issuance of additional notes is subject to certain conditions, including the approval of the TSX Venture Exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s cash balance at the end of the quarter was C$4.8M. The Company&rsquo;s second quarter 2024 financial reports are available
on SEDAR+ (<U>www.sedarplus.com</U>) and the Company&rsquo;s website (<U>www.ElectraBMC.com</U>).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electra&rsquo;s
is recommissioning and expanding its refinery, and its long-term vision includes additional phases to potentially provide recycled battery
materials and battery grade nickel to the North American and global electric vehicle battery market:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 17.85pt"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Completion
                                            of the recommissioning of the refinery to produce at an initial rate of 5,000 tonnes per
                                            annum of battery cobalt contained in cobalt sulfate from cobalt hydroxide. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 17.85pt"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12-month
                                            permit amendment process and expansion of certain circuits to increase cobalt production
                                            to 6,500 tonnes per annum of battery grade cobalt sulfate, reaching the nameplate capacity
                                            of the crystallization circuit.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 17.85pt"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recycling
                                            of black mass, recovering lithium, nickel, cobalt and other critical metals, supported by
                                            a planned joint venture with the Three Fires Group to collaborate to source battery waste
                                            and produce black mass for refining at Electra&rsquo;s refinery. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expansion
                                            to a second cobalt sulfate facility in B&eacute;cancour, Quebec and a strategically located
                                            North American nickel sulfate refinery. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Throughout
2023, Electra operated a plant scale battery recycling trial at its refinery, processing more than 40 tonnes of black mass material to
recover valuable elements such as lithium, nickel, cobalt, manganese, graphite, and copper. The goal was to make high-quality nickel,
cobalt, and lithium products. While the current phase of the recycling project is now largely complete, ongoing work aims to unlock additional
value from the final saleable products and completed advanced engineering studies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electra&rsquo;s
low carbon hydrometallurgical refinery in Canada is permitted and has an estimated current replacement value of approximately US$200
million. The Company requires approximately US$60 million to complete construction. The cobalt refinery project continues to be derisked
through the on-site receipt of most long lead-time equipment and by the 2023 commissioning of the legacy refinery operations for the
black mass demonstration plant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>About
Electra Battery Materials </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electra
is a processor of low-carbon, ethically-sourced battery materials. Currently focused on developing North America&rsquo;s only cobalt
sulfate refinery, Electra is executing a phased strategy to onshore the electric vehicle supply chain and provide a North American solution
for EV battery materials refining. Keys to its strategy are integrating black mass recycling, expanding cobalt sulfate processing into
B&eacute;cancour, Quebec, and exploring nickel sulfate production potential within North America. For more information, please visit
<U>www.ElectraBMC.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contacts</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Heather
Smiles</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice
President, Investor Relations &amp; Corporate Development<BR>
Electra Battery Materials</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>info@ElectraBMC.com<BR>
</U>1.416.900.3891</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Cautionary
Note Regarding Forward-Looking Statements</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>This
news release may contain forward-looking statements and forward-looking information (together, &ldquo;forward-looking statements&rdquo;)
within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by
the use of terminology such as &ldquo;plans&rdquo;, &ldquo;expects&rdquo;, &ldquo;estimates&rdquo;, &ldquo;intends&rdquo;, &ldquo;anticipates&rdquo;,
 &ldquo;believes&rdquo; or variations of such words, or statements that certain actions, events or results &ldquo;may&rdquo;, &ldquo;could&rdquo;,
 &ldquo;would&rdquo;, &ldquo;might&rdquo;, &ldquo;occur&rdquo; or &ldquo;be achieved&rdquo;. Such forward-looking statements include,
without limitation, statements regarding completion of the issuance of the Interest Notes and the approval of the TSXV. Forward-looking
statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance,
and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect
to the potential for additional government funding are discussions and indications of support from government actors based on certain
milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed
on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Other factors that could lead actual results to differ materially include
changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic
and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions
used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only
apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or
at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
