Announcement • Apr 18
Elcora Advanced Materials Corp Reports High-Grade Vanadium-Lead Mineralisation from Surface Samples in Morocco Elcora Advanced Materials Corp. provided an update on its vanadium surface sampling program in the kingdom of Morocco and an overview of its strategic positioning as it advances into 2026. Vanadium grades of approximately 4–5% were reported from selected surface samples — materially above the global industry average of below 1% V2O5. Lead at approximately 33% average in surface vanadinite samples, subject to future metallurgical test work and economic evaluation. Surface sampling program was conducted by Elcora on the Tissaf property (rock samples from one research permit), with samples collected directly from the mineralized zones. Sample weights range from approximately 1.32 kg to 3.05 kg. The analytical results from seven samples collected, including one reference sample (BARYTIN1) and six primary field samples (PF1 to PF6) indicating a significant Lead and Vanadium concentration. Vanadium values are significant, ranging from 3.76% to 5.52%. Lead grades are high in the mineralised surface samples, ranging from 25.26% Pb to 37.69% Pb. The reference sample BARYTIN1 shows negligible lead content (0.03%). Further exploration and technical evaluation are required to determine the continuity, extent, and economic significance of the mineralization. No mineral resources or reserves have been defined, and no economic analysis has been started. Indicative vanadium grades of 4–5% from surface sampling represent a significant premium to global norms and, subject to further technical studies, may have meaningful implications for processing efficiency and project economics. Higher-grade feedstock may also be relevant to Vanadium Redox Flow Battery (VRFB) applications, where vanadium electrolyte represents a significant component of total system cost. The Company has not yet completed studies demonstrating commercial viability, and any future development remains subject to additional technical, regulatory, and economic evaluation. Sampling and analytical results to date indicate the presence of lead in surface samples, with reported values of approximately 32% Pb, interpreted to be primarily associated with vanadinite. Further metallurgical testing will be required to confirm recoveries, scalability, and commercial applicability. All surface samples from Tissaf property were collected and submitted by Elcora for preparation and assaying to African Laboratory for Mining and Environment (“Afrilab” – SGS Certified) in Marrakech, Morocco. All samples were analyzed for silver, Lead, Vanadium, copper, iron, zinc, tin, molybdenum and other elements using Aqua regia digestion followed by atomic absorption spectroscopy (“AAS”). No QA/QC samples were included in this sampling program. Announcement • Feb 17
Elcora Advanced Materials Corp., Annual General Meeting, Apr 21, 2026 Elcora Advanced Materials Corp., Annual General Meeting, Apr 21, 2026. Announcement • Feb 12
Elcora Advanced Materials Corp. announced that it has received CAD 2.999041 million in funding On February 12, 2026, Elcora Advanced Materials Corp. closed the transaction. The company issued 6,242,005 units at a price of CAD 0.12 per unit for gross proceeds of CAD 749,040.6 in its third and final tranche. One of the Company’s Directors participated in the Offering and acquired a total of 2,000,001 Units for total gross proceeds of approximately CAD 240,000. New Risk • Jan 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 48% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$2.9m). Earnings have declined by 6.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.54m market cap, or US$3.33m). Minor Risk Share price has been volatile over the past 3 months (19% average weekly change). Announcement • Jan 24
Elcora Advanced Materials Corp. announced that it expects to receive CAD 3 million in funding Elcora Advanced Materials Corp. announced private placement of 25,000,000 Units at CAD 0.12 per unit for gross proceeds of CAD 3,000,000 on January 23, 2026. Each Unit will consist of one common share and one share purchase warrant. Each Warrant will be exercisable for an additional share at a price of CAD 0.16 for a period of twenty four months from issuance. No finder’s fees will be paid with respect to this Offering. On the same day the company issued 8,158,333 units at a price of CAD 0.12 per Unit for gross proceeds of approximately CAD 978,999.96 in its first tranche. One of the Company’s Directors participated in the first tranche of the Offering and will acquire an aggregate of 1,183,334 Units. All securities issued pursuant to the offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. Closing of the Offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange. New Risk • Sep 28
New major risk - Revenue and earnings growth Earnings have declined by 6.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$363k free cash flow). Negative equity (-CA$2.6m). Earnings have declined by 6.9% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.96m market cap, or US$1.41m). New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$327k free cash flow). Negative equity (-CA$2.0m). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.21m market cap, or US$1.61m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Board Change • Sep 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Chairman Denis Choquette was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Chairman Denis Choquette was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Nov 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$195k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$195k free cash flow). Share price has been highly volatile over the past 3 months (41% average weekly change). Negative equity (-CA$1.6m). Revenue is less than US$1m (CA$121k revenue, or US$87k). Market cap is less than US$10m (CA$3.41m market cap, or US$2.45m). Announcement • Oct 30
Elcora Advanced Materials Corp., Annual General Meeting, Jan 07, 2025 Elcora Advanced Materials Corp., Annual General Meeting, Jan 07, 2025. New Risk • Sep 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Negative equity (-CA$621k). Revenue is less than US$1m (CA$184k revenue, or US$135k). Market cap is less than US$10m (CA$2.56m market cap, or US$1.88m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Announcement • May 17
Elcora Advanced Materials Corp. announced that it has received CAD 0.10275 million in funding Elcora Advanced Materials Corp announced a private placement of 8% interest bearing, unsecured, convertible promissory note in the principal amount of CAD 102,750 for gross proceeds CAD 102,750 on May 16, 2024. The convertible promissory note has a maturity date of September 27, 2024, and the principal amount may be converted in whole or in part into fully paid and non-assessable common shares in the capital of the Company at a conversion price of CAD 0.05 per Common Share, resulting the issuance of up to 2,055,000 Common Shares upon the conversion of the convertible promissory note in accordance with its terms. Any accrued and unpaid interest may be converted into additional Common Shares under a subsequent shares-for-debt filing with the TSX Venture Exchange, which will also be subject to TSX Venture Exchange acceptance at such. All securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. Closing of the Offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange. Announcement • Jan 23
Elcora Advanced Materials Corp. Develops Innovative Process to Extract Vanadium from its Moroccan Vanadinite Deposit Elcora Advanced Materials Corp. announced a major milestone in its commitment to innovation and resource development with the beginning of the metallurgical assessment and pioneering processing test work with Lab 4 Inc. on vanadium extracted from its Morocco Vanadinite Deposit. Elcora's Morocco Vanadinite Deposit, known for its rich vanadium resources, has been the focus of intensive research and development efforts. The latest breakthrough comes in the form of innovative processing techniques that promise to redefine the extraction and production of vanadium, a critical component in energy storage, steel manufacturing, and other high-tech applications. Currently 50%-60% of the vanadium is produced from pig iron slags that grades only about 0.25% vanadium. This means that the potential cost of production of Elcora’s Moroccan vanadium, at 8% grade, could be considerably less expensive both in terms of capital and operating costs. Key Highlights of Elcora's Processing Test Work: Efficient Extraction Process: Elcora, with the help of Lab 4 Inc.’s team, has developed an efficient extraction process that enhances the recovery of vanadium from the Morocco Vanadinite Deposit. This innovative approach not only improves resource utilization, but also contributes to sustainability efforts within the mining industry. High Purity Output: The processing test work has yielded high-purity vanadium, meeting and surpassing industry standards. This achievement positions Elcora as a frontrunner in delivering premium-grade vanadium for a wide range of applications, including energy storage solutions and advanced metallurgy. Eco-Friendly Practices: Elcora remains committed to environmentally responsible mining practices. The Company's innovative processing methods incorporate eco-friendly techniques, reducing the environmental footprint associated with traditional extraction processes. Market Impact: The successful processing test work is expected to have a significant impact on the vanadium market. Elcora aims to contribute to the growing demand for vanadium, driven by the increasing adoption of renewable energy and the development of advanced technologies. Elcora will continue to refine its processing techniques and collaborate with industry partners to bring its high-purity vanadium to market. The Company anticipates that these developments will contribute to the global transition towards cleaner energy and advanced manufacturing. Lab 4 Inc. brings extensive experience in processing and hydrometallurgy of energy materials to the project. The current work has identified the processes used by historical mining of the vanadinite. This knowledge is being applied to prove the processes and produce sample products for verification. Recent Insider Transactions Derivative • Dec 10
CFO, Director & Company Secretary exercised options to buy CA$50k worth of stock. On the 6th of December, Johannes Petrus van der Linde exercised options to buy 2m shares at a strike price of around CA$0.05, costing a total of CA$100k. This transaction amounted to 188% of their direct individual holding at the time of the trade. Since March 2023, Johannes Petrus has owned 1.07m shares directly. This was the only transaction from an insider over the last 12 months. New Risk • Nov 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.1m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-CA$393k). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.05m market cap, or US$3.69m). Announcement • Oct 11
Elcora Advanced Materials Corp., Annual General Meeting, Dec 11, 2023 Elcora Advanced Materials Corp., Annual General Meeting, Dec 11, 2023. New Risk • Aug 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$999k free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-CA$321k). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.74m market cap, or US$4.99m). Minor Risk Shareholders have been diluted in the past year (9.8% increase in shares outstanding). Announcement • Jun 15
Elcora Advanced Materials Corp. Announces Completion of the First Phase of Vanadinite Comminution Testing Elcora Advanced Materials Corp. announced completion of the first phase of vanadinite comminution testing. The purpose of these tests was to characterize the mineral suite found within the deposit economic rocks anddetermine the liberation sizes to direct later comminution studies. Two samples were tested. Both were composed of porous rocks and loose material. Three investigative tools were undertaken to determine these values: optical and electron microscopy and whole rock assay using ICP. The loose materials, composing approximately 12.5% of the sample. The economic mineral contained within the sample are the vanadium/lead/chloride vanadinite. Primarygangue minerals are silica, and calcite/dolomite. The ICP information indicates a vanadinite content of 66% of the entire sample whereas the microscopy indicates 62.9% (including the loose materials). ICP indicates minimal volumes of other minerals, other than silica or silicates, with some mica, that occur in cemented zones between the vanadinite crystals. Inclusions within the vanadinite were identified as silica. The CIP whole rock analysis of the samples tested, shown in Table 2, indicates an 8.9% vanadium grade within the vanadinite and associated cementation zones. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Chairman Denis Choquette was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Nov 10
Elcora Advanced Materials Corp. Announces Positive Lab Test Results for the First 12 Assays from Its Ermazon Manganese Concession Elcora Advanced Materials Corp. announced positive lab test results for the first twelve (12) assays from its Ermazon Manganese concession (16 km²) named “Atlas Fox Deposit” in Morocco. A representative amount of the mineral was sent to the SGS-certified African Laboratory for Mining and Environment (AFRILAB). Manganese (Mn) masses tested between 16% and 50% for an average of 34%. All sample locations are mapped and easily accessible for surface deposit mining. The Atlas Fox Deposit had been mined until the mid-fifties when the French rule in Morocco came to an end. The neighboring village was built for staff accommodation and administration. The mining methods were basic with a combination of open pit and underground methods. The Manganese deposit is a vein/lens with two ridges from which ore was extracted, numerous quality stockpiles were found, and the vein is still exposed in many places. The mining area is easily accessible via public road and an inclining mine haul road of 1.5 km length. Elcora will rehabilitate it including the former staging area situated at a road fork. The mining method will initially be open pit, the production potential run rate at the Atlas Fox Deposit is thought to be approximately 2,500 metric tonnes /month. In addition to several industrial applications, Manganese is an electric vehicle or EV metal. It is used to produce batteries for electric vehicles and other renewable energy applications such as electricity grid storage for Tesla’s batteries. Its status as a battery metal is expected to propel its demand in the wake of what experts predict will be a widespread transition to EVs driven by lofty climate policy goals and zero-emission targets. Announcement • Oct 20
Elcora Advanced Materials Corp. announced that it has received CAD 0.702 million in funding Elcora Advanced Materials Corp. announced a private placement of 14,040,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 7,020,000 on October 18, 2022. Each unit consists of one common share and one share purchase warrant. Each warrant will be exercisable for an additional share at a price of CAD 0.20 for a period of 18 months from issuance. In the event that the common shares of the company trade at a closing price of greater than CAD 0.50 per share for 10 consecutive trading days, the company may accelerate the expiry date of the warrants to expire on the 30th day after the date on which such notice is given to the warrant holders. No finder’s fees will be paid and no control person has been created with respect to this offering. One of the company’s directors participated in the offering and will acquire an aggregate of 3,600,000 units. All securities issued pursuant to the offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. Closing of the offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange. Announcement • Jul 23
Elcora Advanced Materials Corp., Annual General Meeting, Sep 28, 2022 Elcora Advanced Materials Corp., Annual General Meeting, Sep 28, 2022. Announcement • Jun 10
Elcora Advanced Materials Corp. Announces Positive Lab Test Results for the First Fifteen Assays from One of the Seventeen Polymetallic Vanadinite Research Licenses (16 Km² Each) in Morocco Elcora Advanced Materials Corp. announced positive lab test results for the first fifteen (15) assays from one of the seventeen (17) Polymetallic Vanadinite Research Licenses (16 km² each) in Morocco. The South-Eastern part of the explored Research license area is a typical Horst type formation in which the mineral crops out at more than a dozen locations and is covered between a few deca-centimeters up to a maximum of 12m to 15m of overburden. Three structures were identified over a length of 2.5 km and it was decided to sample from the outcrops which showed even mineralization and low carbonate interference. Hand-held Screw type drilling and Pick & Shovel down to the bedrock of the ore layer was the applied sampling method. Due to the easy access and the evenness of the mineralization, in the first stage, all samples were piled and then mixed to form a uniform mass. All sample locations are mapped and easily accessible. A representative amount of the mineral then was sent to the SGS-certified African Laboratory for Mining and Environment (AFRILAB). Lead (Pb) and Vanadium (V) masses tested at 45,1% and 6,14% respectively. In a second exploration campaign, fourteen (14) trench samples were taken by the local team and then analyzed by the SGS-certified AFRILAB. The masses results averaged 36,52% Pb and 4,125% V with a maximum of 50,76% Pb and 6,66% V. The results of these tests are excellent and Elcora's in-country projects are on track, a Resource NI 43-101 report will soon be disclosed with the objective to start production during the year 2022. Announcement • Jun 08
Elcora Advanced Materials Corp. (TSXV:ERA) acquired Seven New Vanadinite Licenses. Elcora Advanced Materials Corp. (TSXV:ERA) acquired Seven New Vanadinite Licenses on June 7, 2022.
Elcora Advanced Materials Corp. (TSXV:ERA) completed the acquisition of Seven New Vanadinite Licenses on June 7, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Denis Choquette was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Dec 22
Elcora Advanced Materials Corp. (TSXV:ERA) completed the acquisition of STE ERMAZONE.A.R.L. Elcora Advanced Materials Corp. (TSXV:ERA) agreed to acquire STE ERMAZONE.A.R.L on November 19, 2021. The acquisition includes ten Vanadium licenses/concessions sites in Morocco. In consideration for the purchase, Elcora Advanced Materials Corp. has agreed to pay consideration as follows: $0.5 million cash (ii) 4.5 million common shares of Elcora Advanced Materials Corp. and (iii) $0.01 million to be paid in remuneration at the end of each month, for a period of three years, or until the end of the employment period. All Shares issued pursuant to the acquisition are issued at a deemed price of $0.11 per share and will be vest at a rate of one thirty-sixth at the end of each month, over a period of three years. The Shares will be subject to a minimum hold period of four months and one day from the date of issuance. The acquisition is subject to customary closing conditions, including final acceptance from the TSX Venture Exchange. As of December 17, 2021, TSX Venture Exchange has accepted for filing the documentation relating to an acquisition
Elcora Advanced Materials Corp. (TSXV:ERA) completed the acquisition of STE ERMAZONE.A.R.L on December 20, 2021. Announcement • Nov 25
Elcora Advanced Materials Corp. (TSXV:ERA) agreed to acquire STE ERMAZONE.A.R.L. Elcora Advanced Materials Corp. (TSXV:ERA) agreed to acquire STE ERMAZONE.A.R.L on November 24, 2021. The acquisition includes ten Vanadium licenses/concessions sites in Morocco. In consideration for the purchase, Elcora Advanced Materials Corp. has agreed to pay consideration as follows: $0.5 million cash (ii) 4.5 million common shares of Elcora Advanced Materials Corp. and (iii) $0.01 million to be paid in remuneration at the end of each month, for a period of three years, or until the end of the employment period. All Shares issued pursuant to the acquisition are issued at a deemed price of $0.11 per share and will be vest at a rate of one thirty-sixth at the end of each month, over a period of three years. The Shares will be subject to a minimum hold period of four months and one day from the date of issuance. The acquisition is subject to customary closing conditions, including final acceptance from the TSX Venture Exchange. Recent Insider Transactions Derivative • Feb 27
CFO, Director & Company Secretary exercised options to buy CA$105k worth of stock. On the 18th of February, Johannes Petrus van der Linde exercised options to buy 750k shares at a strike price of around CA$0.08, costing a total of CA$60k. This transaction amounted to 238% of their direct individual holding at the time of the trade. Since December 2020, Johannes Petrus has owned 315.48k shares directly. This was the only transaction from an insider over the last 12 months. Announcement • Nov 17
Elcora Advanced Materials Corp., Annual General Meeting, Nov 30, 2020 Elcora Advanced Materials Corp., Annual General Meeting, Nov 30, 2020, at 10:00 Atlantic Standard Time. Location: Suite 10, 275 Rocky Lake Drive Bedford Nova Scotia Canada Agenda: To receive the audited financial statements of the Corporation for the financial year ended on March 31, 2020; to fix the number of directors at three; to elect directors for the upcoming year; to appoint Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants, as auditor of the Corporation for the upcoming year and authorize the directors to determine the remuneration to be paid to the auditor; to approve the Corporation's stock option plan; and to transact such other business as may properly be put before the Meeting. Announcement • Sep 09
Elcora Advanced Materials Corp. Auditor Raises 'Going Concern' Doubt Elcora Advanced Materials Corp. filed its Annual on Aug 28, 2020 for the period ending Mar 31, 2020. In this report its auditor, Dale Matheson Carr-Hilton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.