Stellantis Receives FIRB Approval for Second Tranche Strategic Placement to Alliance

Alliance Nickel Limited (Alliance or the Company) (ASX:AXN) is pleased to advise that it has been notified by Stellantis N.V (Stellantis) that it has received clearance (without conditions) from the Australian Foreign Investment Review Board (FIRB) to undertake the second tranche of the strategic placement with Alliance announced in May 2023 (refer Alliance ASX release dated 1 May 2023, Alliance Nickel executes Binding Offtake Agreement and Cornerstone Equity Investment with Stellantis N.V.).

Highlights

• Tranche 2 new equity proceeds of A$2.3 million expected in September 2023
• Completion will increase Stellantis’ total equity investment in Alliance (at A$0.18 per share) to A$15 million

Upon settlement of the Tranche 2 placement, Stellantis will have subscribed for a total of A$15 million (at A$0.18 per share) under the strategic placement and will hold an approximate 11.5% interest in Alliance.

The Company continues to strongly advance all major workstreams for development of the NiWest Nickel Project and expects the definitive feasibility study to be released in Q4 2023. In parallel, the Company continues to advance discussions with other potential Tier 1 strategic partners and the project financing process is well underway.

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