Electra receives Nasdaq notice on minimum price deficiency

Electra Battery Materials Corporation announced that it received a notice from The Nasdaq Stock Market LLC on September 21, 2023 stating that the company is not in compliance with the minimum bid price requirement of $1.00 per share under Nasdaq’s Listing Rule 5550(a)(2) based upon the closing bid price of the company’s common shares for the 30 consecutive business days prior to the date of the Notice. The Notice has no immediate effect on the listing or trading of the company’s common shares on the Nasdaq Capital Market, and the company’s operations are not affected by the receipt of the Notice. Under Nasdaq Listing Rule 5810(c)(3)(A), the company has 180 calendar days from the date of the Notice, or until March 19, 2024, to regain compliance with the Minimum Bid Requirement, during which time the company’s common shares will continue to trade on Nasdaq.