Jindalee Resources Advances Capital Raising Efforts

Jindalee Resources Limited (AU:JLL) has released an update.

Jindalee Resources Limited has announced the issuance of convertible notes to raise up to $12 million, with the first tranche of $1.5 million already completed and the second tranche conditional on shareholder approval. These notes can be converted into shares and sold to retail investors without further disclosure, as per a Cleansing Notice under section 708A(12C)(e) of the Corporations Act. The funding, provided by agreements with Mercer Street Global Opportunity Fund and other funds, is aimed at bolstering the company’s capital.

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