Jindalee Resources Limited (AU:JLL) has released an update.
Jindalee Lithium Limited has launched a capital raising initiative which includes a 1 for 6 non-renounceable entitlement offer, a placement of shares to select investors, and an initial convertible note raising, with the goal of raising funds primarily for the completion of the McDermitt Pre-Feasibility Study and other corporate activities. The entitlement offer allows existing shareholders to purchase new shares at $0.30 each and comes with two free-attaching options per two new shares, with varying exercise prices and expiry dates. The proceeds from the capital raising efforts are intended to optimize production outcomes and cover corporate and working capital needs.
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