Electra Provides Update On Restructuring Terms To Advance Completion Of Cobalt Refinery

Sept 16 (Reuters) - Electra Battery Materials Corp ELBM.V:

• ELECTRA PROVIDES UPDATE ON RESTRUCTURING TERMS TO ADVANCE COMPLETION OF COBALT REFINERY

• ELECTRA BATTERY MATERIALS CORP - TO CONVERT $41.3 MILLION NOTES INTO 55 MILLION UNITS

• ELECTRA BATTERY MATERIALS CORP - LENDERS TO EXCHANGE 60% DEBT FOR EQUITY, REDUCING DEBT TO $27.5 MILLION

• ELECTRA BATTERY MATERIALS CORP - REMAINING 40% NOTES EXCHANGED INTO NEW THREE-YEAR TERM LOAN

• ELECTRA BATTERY MATERIALS CORP - TSXV DENIES WAIVER, RESTRUCTURING AT $0.75 PER UNIT

• ELECTRA BATTERY MATERIALS - TO ISSUE ONE-TIME BONUS OF 3.8 MILLION SHARES TO LENDERS AT $0.90 EACH