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Jindalee Resources Limited ( (AU:JLL) ) has provided an update.
Jindalee Lithium Limited has secured firm commitments for an approximately A$8.5 million private placement of about 18.5 million new shares at A$0.46 each, accompanied by attaching options exercisable at A$0.60 and expiring in June 2029. The placement, heavily backed by sophisticated, professional and institutional investors, uses the company’s existing placement capacity and includes a conditional tranche for directors, with settlement expected in mid-May 2026.
In parallel, the company is launching a non-renounceable entitlement offer to raise up to an additional A$2.5 million, allowing eligible shareholders to subscribe on the same terms as the placement and receive matching attaching options. Combined with shortfall commitments and full participation by the board and executive team, Jindalee has lined up about A$10.2 million in commitments, which it plans to use to advance the McDermitt project and support completion of the proposed NASDAQ listing of US Elemental, strengthening its funding runway and institutional investor base.
More about Jindalee Resources Limited
Jindalee Lithium Limited is an Australian lithium exploration and development company listed on the ASX and OTCQX, with a primary focus on advancing its McDermitt lithium project. The company targets the growing global battery and electric vehicle markets and is pursuing a proposed NASDAQ listing of its US-focused vehicle, US Elemental, to broaden its capital markets presence.
Average Trading Volume: 169,576
Technical Sentiment Signal: Sell
Current Market Cap: A$57.9M
For detailed information about JLL stock, go to TipRanks’ Stock Analysis page.