Electra Battery Materials Corp V.ELBM

Board meeting Vote on item 4 - more Consolidation up to 1/18

[17Digger]

Go your paper Proxy Vote ballot that just came in the postal mail and read item 4 now.  It says:

To consider and, if deemed advisable, to approve with or without variation, a special resolution authorizing an amendment to the Company's articles to complete a consolidation (the "Consolidation") of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post- Consolidation Common Share for between ten (10) and eighteen (18) pre-Consolidation Common Shares, as determined by the Board in its sole discretion and as more particularly described in the accompanying Circular.

This reqested vote passed already months ago at a share consolidation rate of 5 to 7 current shares for 1 new share and FCC management did not use the right they got then because of fear of tanking the stock further in my opinion.

Now they want to more than double their existing power and are asking in Item 4 to be allowed  to consoidate 10 to 18 of your shares now and give you one new share in return. And that share is to be issued at some new untested shaky market price depending how the old stock price closes.

They will tell you that we already have too many shares outstanding.

Q. What do you think they are going to do when they get the right to reduce our FCC share poulation to 100 /18 =  5.5 percent of the current share float? 

A. They are going to quickly issue more new shares to new people who were not here supporting this company like we were.  They will do that at a discount to their actaul market price too.  Then after that watering down process, in about 80% or more of the share consolidation instances the new shares usually fall back to ner their original price. This means a share now worth say 36 cents will drop to under a dime in most share consolidaions cases.  Your current 36 cent share can easily drop to about 9 current cents not long after it is consolidated once you lose about 80% of the new consoidated share price in a price drop afterwards.

Vote No to Item 4 unless you want some new shareholder to acquire your stock cheaply!

If this item 4 passes I will be dumping every share I control before any consolidaion happens.  After that I will have to wait a few weeks but I can buy them all back at a large discount, once they fall a large percentage from the new consolidated share price.

This Item 4 proposal is simple financial engineering. We do not need that.
We need our company to build its refinery and create lots of revenue to grow our stock value and share price.  The share float size does not affect the revenue of FCC by even one cent!  Think about that....

Vote NO to Item 4. 
I already did so with over half a million shares.
Vote No with yours too for your own protection against this financial engineering.

If you decide to vote for this Item 4, you can trust the market vulures to be there ready to pick up your shares cheaply later when they go on a post consolidaion share price sale.

X Vote No to Item 4.
If FCC share consolidation was such a good idea why didn't mangement do it already at 5 or 7 for 1 when it had the chance. In fact it still does have that right too.  
X Vote No to Item 4
........

[Goatburner]

It seems like your mind is made up-just leave if you are unhappy. You are not qualified to lead this company. Trent Mell is. Trent has an excellent record of producing positive results for any company he is associated with-not to mention his own. Ordinarily, I really enjoy reading the comments from other day-to-day investors. But your view is arrogant-as if you know better then Trent on what is

[17Digger]

Trent has already correctly stated in a past interview that about 80% of share conslidations fail and the price thenfalls unless they are well timed for excellent market and business conditions. Do you like those odds? That is the bet being asked of shareholders in Item 4 of this Proxy vote. xx

[ztkatc]

You and your Lovely Trent...You are so naive

[Budcomags4]

Currently 540 Million shares... that is over 1/2 billion shares lol.  You want to keep this company with that many shares? They could do a 10-18 to 1 reverse split and issue new shares.  They could also keep it the way it is and issue another couple hundred million shares.  There are lots of scenarios... Personally, 540 million shares does not sit well with large institional

[17Digger]

If they vote to consolidate then I have about an 80% chance of buying those new consolidated shares back at about 25 current cents apiece, unless the outside stock vultures get them first. My current shares are worth not risking a consolidation for a likely price devaluation. By the way, if Trent consolidates and sets a new share price of say $5, do you think he will offer our new shares for

[Tuckerthefox]

If the share price drops after consolidation it will be a temporary drop. The push for EV is far to strong. We are golden. IMO

[Starkicker]

Agreed. You have to be on the right boards to sign lead contracts with the big boys. Would be nice to build SP organically but with a pre-revenue operation like this that's not possible. Not ideal but that's life in start-ups.

[ztkatc]

Grow the company more, let the Sp grow organically to at least $2.00 then reverse split...NOT NOW, TOO EARLY

[ztkatc]

of course I'm voting NO to the Consolidation...EVERY Freckin company I owned since 27 years that made a reverse split ended up loosing a LOT of value.....REVERSE SPLIT is $hit YOU DON'T WANT THAT!!!!  They do that for their own interest, not YOURS...VOTE NO

[WernerD]

ztkatc@ Why so insubstantial? Do you have any starting points other than your previous negative expectations? But if you can fundamentally justify your concerns, then do so. But please not in such a blanket manner.