Jindalee Resources Limited (AU:JLL) has released an update.
Jindalee Lithium Limited has announced a funding agreement with Mercer Street Global Opportunity Fund II, LP to raise up to $12 million through the issuance of convertible notes. The first tranche of $1.5 million has been secured, with an additional tranche contingent on shareholder approval. Shares from the conversion of these notes can be sold to retail investors without additional disclosure, simplifying the investment process.
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