Electra Battery Materials Corporation (NASDAQ: ELBM) has received an additional 180-calendar-day extension from Nasdaq to regain compliance with the exchange's $1.00 minimum bid price requirement, according to a press release from the Toronto-based company.

The extension runs until March 15, 2027. Nasdaq granted the additional period based on Electra meeting continued listing requirements for market value of publicly held shares and all other applicable initial listing requirements, aside from the minimum bid price rule. The company also submitted written notice of its intention to cure the deficiency, including through a potential reverse stock split if necessary.

The extension has no immediate effect on the listing or trading of Electra's common shares on Nasdaq, and the company stated its operations are not affected. The extension also has no impact on the listing of shares on the TSX Venture Exchange.

To regain compliance before the March 15, 2027 deadline, the closing bid price of Electra's shares must reach or exceed $1.00 for a minimum of 10 consecutive business days. Nasdaq retains discretion to require a longer compliance period.