Electra Battery Materials Corp. Files 2023 Annual Report

Ticker: ELBM · Form: 20-F · Filed: May 16, 2024 · CIK: 1907184

Sentiment: neutral

Topics: annual-report, sec-filing, battery-materials

TL;DR

Electra Battery Materials Corp. dropped its 2023 20-F. Check financials.

AI Summary

Electra Battery Materials Corp. filed its 20-F for the fiscal year ending December 31, 2023. The company, incorporated in A6 and headquartered in Toronto, operates in the electrical machinery sector. Key financial details and operational information are presented in this annual report.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Electra Battery Materials Corp.'s financial performance and operational status for the fiscal year 2023, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — As a battery materials company, Electra is subject to market volatility, commodity prices, and technological advancements in the rapidly evolving electric vehicle sector.

Key Numbers

Key Players & Entities

FAQ

What is Electra Battery Materials Corp.'s primary business activity?

Electra Battery Materials Corp. operates in the Miscellaneous Electrical Machinery, Equipment & Supplies sector, as indicated by its SIC code 3690.

What is the fiscal year end for Electra Battery Materials Corp.?

The fiscal year end for Electra Battery Materials Corp. is December 31 (1231).

Where is Electra Battery Materials Corp. incorporated?

Electra Battery Materials Corp. is incorporated in A6.

What is the SEC file number for Electra Battery Materials Corp.'s 20-F filing?

The SEC file number for this 20-F filing is 001-41356.

What is the business address of Electra Battery Materials Corp.?

The business address is PO BOX 20059, BAY ADELAIDE P.O., TORONTO, A6, M5H 0A1.

Filing Stats: 4,499 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2024-05-15 18:41:06

Key Financial Figures

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court Yes No Table of Contents TABLE OF CONTENTS Table of Contents i General Matters ii CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS iii Part I 1 Item 1. Identity of Directors, Senior Management and Advisors 1 Item 2. Offer Statistics and Expected TimeTable 1 Item 3. Key Information 1 Item 4. Information on the Company 15 Item 4A. Unresolved Staff Comments 67 Item 5. Operating and Financial Review and Prospects 67 Item 6. Directors, Senior Management and Employees 68 Item 7. Major Shareholders and Related Party Transactions 86 Item 8. Financial Information 86 Item 9. The Offer and Listing. 86 Item 10. Additional Information 87 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 94 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 96 PART II 97 Item 13. Defaults, Dividend Arrearages and Delinquencies 97 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 97 Item 15.

Controls and Procedures

Controls and Procedures 97 Item 16. [Reserved] 98 Item 16A. Audit Committee Financial Expert 98 Item 16B. Code of Ethics 99 Item 16C. Principal Accountant FeeS and Services 100 Item 16D. Exemptions from the Listing Standards for Audit Committees 100 Item 16E. Purchases of Equity SEcurities by THE COMPANY and Affiliated Purchasers 100 Item 16F. Change in Registrant's Certifying Accountant 100 Item 16G. Corporate Governance 101 Item 16H. Mine Safety Disclosure 101 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 101 Item 16J. INSIDER TRADING POLICIES 101 Item 16K. CYBERSECURITY 102 PART III 103 Item 17:

Financial Statements

Financial Statements 103 Item 18:

Financial Statements

Financial Statements 103 Item 19. Exhibits 103 i Table of Contents GENERAL MATTERS Unless otherwise noted or the context indicates otherwise "we", "us", "our", the "Company" or "Electra" refers to Electra Battery Materials Corporation. As used in this Annual Report on Form 20-F (this " Annual Report "), the terms "Mineral Resource," "Measured Mineral Resource," "Indicated Mineral Resource," "Measured Mineral Resource," and "Inferred Mineral Resource" and any grammatical variations thereof are based on the definitions of such terms set forth in Subpart 1300 of Regulation S-K (" S-K 1300 "). Unless otherwise indicated, financial information in this Annual Report has been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. Unless otherwise noted herein, all references to "$," "C$," "Canadian dollars," or "dollars" are to the currency of Canada and "US$," "United States dollars," or "U.S. dollars" are to the currency of the United States. We are an "emerging growth company" as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and as such, we have elected to comply with certain reduced U.S. public company reporting requirements. Unless otherwise indicated, the Company has obtained the market and industry data contained in this Annual Report from its internal research, management's estimates and third-party public information and other industry publications. While the Company believes such internal research, management's estimates and third-party public information is reliable, such internal research and management's estimates have not been verified by any independent sources and the Company has not verified any third-party public information. While the Company is not aware of any misstatements regarding the market and industry data contained in this Annual Report, such data involves risks and uncertainties and are subject to change

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS Not required.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not required.

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A. [Reserved] 3.B. Capitalization and Indebtedness Not required. 3.C. Reasons for the Offer and Use of Proceeds Not required. 3.D. Risk Factors Following is a list of risks that the Company faces in its normal course of business. These are factors which, individually or in the aggregate, we think could cause our actual results to differ significantly from anticipated or historical results. The risks and uncertainties set out below are not exhaustive and are not the only ones the Company is facing. There are additional risks and uncertainties that the Company does not currently know about or that the Company currently considers immaterial which may also impair the Company's business operations and cause the price of the of the Company (the " Common Shares ") to decline. If any of the following risks actually occur, the Company's business may be harmed and the Company's financial condition and results of operations may suffer significantly. Investors should carefully consider the risk factors set out below and consider all other information contained herein and in the Company's other public filings before making an investment decision. The risks set out below are not an exhaustive list and should not be taken as a complete summary or description of all the risks associated with the Company's business and the biotechnology business generally. Additionally, investors should not interpret the disclosure of a risk to imply that the risk has not already materialized. Risks Related to the Company's Financial Position and the Need for Additional Capital The Company a history of operating losses, which may continue for the foreseeable future and our auditors have indicated that there is a substantial doubt about our ability to continue as a going concern. The Company has suffered recurring losses from operations, has a net working capital deficiency and will require additional financing to continue operations, complete the construct

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