Niocorp Developments Ltd (NB)

[walterc]

Advocate

That is a legitimate question I have done some research on that subject and I noticed in previous investments that Stellantis (and other OEMs) have made in upstream companies, they tend to avoid taking greater than a 20% equity stake in public companies. That is clearly to avoid becoming a “control person” from the perspective of US and Canadian securities laws. They often found other ways to invest more than 20% in these companies. Here is an example; E25 signs Offtake and Project Financing Agreement with Global Mobility Provider Stellantis: https://www.element25.com.au/site/pdf/4a673ee4-d735-452a-bd5a-4fc31494a37a/E25-Stellantis-Sign-Binding-Battery-Grade-Manganese-Offtake-and-Funding-Agreements.pdf
In the E25 example, they took an equity position but supplemented that with a pre-purchase agreement.

pre -purchase is essentially debt thus non dilutive