Leclanché and Pinnacle Advance Strategic Partnership with Due Diligence Completion

Leclanché SA and Pinnacle International Venture Capital Limited have reached a significant milestone in their strategic partnership. Pinnacle has completed a satisfactory legal, financial, and technical due diligence review of Leclanché. The partners will address items identified in this review over the next six months.

The next steps include an engineering review by Pinnacle to optimize resource allocation and align strategies. This collaboration intends to secure a restructuring exemption from the Swiss Takeover Board. As part of their joint venture, the partners aim to expand Leclanché's production capacity in Willstätt and establish a new facility in the Middle East, increasing contributions to the heavy-duty battery market.

As part of their agreement, Pinnacle will obtain up to 40% equity in Leclanché via share exchange and may further increase its holdings to 70% by acquiring shares from SEF-LUX.