Kuniko Limited - Stellantis Equity Investment of A$7.8M and Term Sheet for Future Offtake of Norway Battery Metals
3 July 2023
Stellantis to become Kuniko’s major shareholder, supporting development of Norwegian battery metals projects for future offtake.
Highlights:
- Strategic Partnership: Stellantis, a world leading automaker and provider of mobility solutions, has entered into a strategic partnership with Kuniko with a significant upstream investment, fostering innovation and growth in the European battery metals sector.
- Equity Investment: Stellantis will make a €5,000,000 investment, equivalent to approximately A$7,843,137, acquiring a 19.99% shareholding in Kuniko at an issue price of A$0.467 per share (being the 30-day VWAP for shares up to 31 May 2023).
- Offtake Term Sheet: Kuniko and Stellantis have agreed on an offtake term sheet, securing a 35% future production offtake of nickel sulphate and cobalt sulphate from Kuniko's Norwegian exploration projects (Norwegian Projects) for a term of 9 years, with a formal offtake agreement to be entered into by 31 December 2027 conditional on certain project development milestones being achieved .
- Funding for Exploration: The proceeds from the equity investment will be utilized to advance Kuniko's brownfield and greenfield battery metals exploration projects in Norway, complimenting Kuniko’s further growth opportunities in other tier one jurisdictions.
Antony Beckmand, CEO, commented:
“We are pleased to announce this major equity investment and strategic partnership between Stellantis and Kuniko, driven by a shared vision to secure sustainable European battery value chain solutions. This collaboration represents a significant milestone for us, as it signifies not only a substantial financial backing but also a resounding validation of the immense potential of our battery metals project portfolio in Norway.
The investment and term sheet for future offtake are a testament to Stellantis' confidence in our ability to deliver sustainable and ethical sources of critical battery metals that will drive the future of electromobility in harmony with EU regulations. Together with Stellantis, we eagerly anticipate working hand in hand to achieve exploration success, move towards production, and make meaningful contributions to the growth and advancement of the European battery industry.”
Maxime Picat, Stellantis Chief Purchasing and Supply Chain Officer, commented:
“We are on an aggressive path to securing a holistic portfolio of raw materials needed to meet our Dare Forward 2030 electrification targets. With Kuniko, we are adding another lever to support our European battery needs with a local and environmentally conscious solution from its Norwegian projects.”
The Board of Kuniko extends a warm welcome to Stellantis as our investor, and we are delighted to embark on this collaborative journey together. We are well poised to leverage our collective expertise, resources and shared vision to drive innovation, unlock new opportunities and create a sustainable future.
Link to the original news in full length:
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit: www.stellantis.com.
About Kuniko
Kuniko Limited (ASX: KNI) is a European focused battery minerals explorer and exploration project developer, targeting metals for electromobility, including copper, nickel, cobalt and lithium. Kuniko is positioned to provide exposure to the rapidly growing European battery industry, where it seeks to facilitate European focused battery value chain solutions through the advancement of its portfolio of battery metals projects in Norway and Canada. Kuniko’s projects aim to reduce Europe’s reliance on external sources of battery metals by offering a local, ethical and sustainable sources of critical battery metals. Kuniko has a strict mandate to target carbon neutrality throughout exploration, development, and production of its projects. For more information, visit: www.kuniko.eu.
Highlights
- Developing Copper, Nickel, Cobalt, Lithium and other battery metals projects
- Ethical Sourcing ensured
- 100% commitment to target a net ZERO CARBON footprint
- Operations in Norway, where 98% of electricity comes from
- RENEWABLE sources
Corporate Directory
Kuniko Limited
ACN 619 314 055
Chief Executive Officer
Antony Beckmand
Chairman
Gavin Rezos
Non-Executive Director
Brendan Borg
Non-Executive Director
Maja McGuire
Non-Executive Director
Birgit Liodden
Company Secretaries
Joel Ives Marshall Lee
Website: www.kuniko.eu
Email: [email protected]
Twitter: @KunikoLtd
Facebook: Kuniko-limited
Level 28, AMP Tower,
140 St Georges Terrace
Perth WA 6000
+61 8 6364 5095
Forward Looking Statements
Certain information in this document refers to the intentions of Kuniko, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to Kuniko’s projects are forward looking statements and can generally be identified using words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the Kuniko’s plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause Kuniko’s actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, Kuniko and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).
No new information
Except where explicitly stated, this announcement contains references to prior exploration results, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements.
Enquiries
Antony Beckmand, CEO
Telephone: +47 920 47 519
Email: [email protected]
Joel Ives, Company Secretary
Telephone: +61 8 6364 5095
Email: [email protected]
Authorisation
This announcement has been authorised by the Board of Directors of Kuniko Limited.
