Electra Battery Materials Corporation has entered into a strategic advisory agreement with Altitude Capital Consultants Inc. of Toronto. The partnership, which commenced on August 28, 2024, is designed to support Electra’s initiatives to develop a North American battery materials supply chain.
Altitude Capital Consultants, led by Michael Wekerle and Gene McBurney, will provide expertise in capital markets strategy and market opportunity analysis. Wekerle, an experienced investor with a background in capital markets, and McBurney, a veteran of international investment banking, bring extensive industry knowledge to the collaboration.
Trent Mell, CEO of Electra, said the company expects to benefit from Altitude’s expertise as it pursues its strategic objectives. The partnership aligns with Electra’s focus on building North America’s only cobalt sulfate refinery and integrating various aspects of the electric vehicle supply chain.
As part of the agreement, Electra has issued 1,000,000 incentive stock options to Altitude. These options are exercisable at $0.85 per share for a period of three years with quarterly vesting for one year.
Electra Battery Materials Corporation’s strategy includes the development of a cobalt sulphate refinery, the integration of black mass recycling, the potential expansion of cobalt sulphate processing in Bécancour, Quebec and the exploration of nickel sulphate production opportunities in North America.
This strategic partnership reflects a broader industry trend to secure domestic supply chains for critical minerals that are essential to battery production and have national security implications.
The U.S. Department of Defense’s recent investment in Electra’s Ontario-based cobalt project, announced on August 19, 2024, underscores the strategic importance of such initiatives in the current global context.
Source: Electra Battery Materials
