Elevra Lithium Closes C$65M Convertible Note Tranche at A$17.17 Conversion Price
ELVR has more than doubled off its 52-week low of $15.545.
Summary
Elevra Lithium has issued C$65 million in convertible notes to Canada Growth Fund, completing the upfront tranche of its NAL expansion financing. The notes convert at A$17.17, a premium to the current share price, while a second C$80 million tranche is still pending.
Key Events · Financing and Capital Events · ELVR
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C$65M Convertible Note Issued
On 31 July 2026, Elevra issued C$65 million in convertible notes to Canada Growth Fund, marking the upfront tranche of a broader financing package.
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Conversion at Premium
The notes convert at A$17.17 per share, a premium to the current stock price that signals robust institutional demand.
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Funding for NAL Expansion
Proceeds are earmarked for the North American Lithium brownfield expansion, which aims to boost production capacity and lower unit costs.
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Conditional Tranche Pending
A second C$80 million tranche remains contingent on shareholder approval and other conditions, with a deadline of 30 June 2028.
Analysis · ELVR · Energy & Transportation
The first tranche of a strategic convertible note financing is now complete, with Elevra Lithium issuing C$65 million to Canada Growth Fund. Priced at a floating rate of CORRA + 225 bps and convertible at A$17.17 per share—a premium to the current stock—the terms underscore institutional confidence in the company's trajectory. This issuance forms part of a broader A$508 million package that fully funds the NAL brownfield expansion, a pivotal growth initiative. Meanwhile, a second C$80 million tranche remains conditional on shareholder approval and other requirements.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.8% of the 1640 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ELVR was trading at $51.21 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $973.2M. The 52-week trading range was $15.55 to $102.80. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.