Electra and Ontario Advance North America’s Critical Minerals Future with $17.5 Million Funding Agreement

TORONTO, Aug. 26, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to announce that it has finalized definitive agreements with Invest Ontario, an agency of the Government of Ontario, for C$17.5M in previously announced funding to support construction of its cobalt sulfate refinery in Temiskaming Shores, Ontario.

“We are grateful to Invest Ontario and the Government of Ontario for their continued partnership on this strategic asset,” said Trent Mell, CEO of Electra. “We are focused on completing North America’s first cobalt sulfate refinery and creating the long term employment and economic activities that come with it. Ontario brings together a rich mineral endowment, a highly skilled workforce, abundant renewable energy and more than a century of natural resources expertise. This project leverages those advantages to establish essential critical mineral processing capacity that strengthens North America’s supply security.”