Jindalee Lithium Secures $8M for US Listing, McDermitt Project
Jindalee Lithium Limited has secured $8 million in funding to advance its McDermitt Lithium Project and US listing plans. The capital raise, supported by both Australian and US institutional investors, will fuel exploration drilling, metallurgical testwork, convertible note repayment, and SPAC transaction advancement.
The funding round attracted notable American institutions such as Guggenheim Securities and Cantor Fitzgerald. Managing Director & CEO Ian Rodger expressed satisfaction with the outcome, highlighting the international investor base's confidence in Jindalee's strategic position within America's critical minerals supply chain.
The placement was priced at $0.55 per share, with participants receiving complimentary options exercisable at $0.825 expiring November 30, 2028. Eligible shareholders can also participate in a $1 million Share Purchase Plan on identical terms.
Jindalee has secured a non-binding term sheet with L1 Capital for a potential US$100 million Capital One Equity Line of Credit, conditional upon the successful completion of the SPAC merger. The company has outlined a comprehensive development schedule with multiple catalyst opportunities over the coming months, including placement settlement, SPP closing, and SPP shares issued.
The strategic allocation of funds ensures each dollar deployed contributes to measurable value creation across multiple development phases. The successful capital raise and SPAC transaction, pending regulatory approval, position Jindalee Lithium Limited strongly for its US listing plans and McDermitt Lithium Project development.
