May 1 (Reuters) - Alliance Nickel Ltd (AXN) : ENTERED BINDING...

May 1 (Reuters) - Alliance Nickel Ltd (AXN) :

• ENTERED BINDING OFFTAKE AGREEMENT AND SHARE SUBSCRIPTION AGREEMENT WITH STELLANTIS N.V.
• SHARE SUBSCRIPTION AGREEMENT FOR A$15 MILLION GIVING STELLANTIS 11.5% SHAREHOLDING IN ALLIANCE
• STELLANTIS WILL SUBSCRIBE FOR A$15 MILLION IN NEW EQUITY IN ALLIANCE AT A SUBSCRIPTION PRICE OF A$0.18 PER SHARE
• BINDING OFFTAKE AGREEMENT FOR BATTERY GRADE MATERIALS IS FOR FIRST FIVE YEARS OF OPERATIONS FOR NIWEST PROJECT
• ALLIANCE WILL SUPPLY APPROXIMATELY 170,000T OF NICKEL SULPHATE AND 12,000T OF COBALT SULPHATE IN TOTAL