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JLL.AX - New Funding to Progress McDermitt.pdf

Placement, entitlement offer, convertible notes to raise up to A$6.7m 

Strategic investor can provide up to A$9m in additional funding 

Funds used for project optimisation, PFS and US Government Grants

Jindalee Lithium (JLL) raises up to A$6.7m: A placement of A$0.6m and an entitlement offer up to A$3.1m with all shares have 2 attaching options. A further A$3.0m to be raised in convertible notes. There are firm commitments of A$4.1m

Strategic Investor steps in, recognising value opportunity, potential for additional A$9m in funding: Mercer Street Global Opportunities Fund (Mercer Street), a strategic investor based in the US, has committed to the placement as well as A$3.0m of convertible notes. Mercer has an additional A$9.0m available subject to mutual agreement with JLL.

Funds will be put to immediate work: proceeds will be used to optimise and complete the vitally important McDermitt PFS and support work towards metallurgical testing and gaining US Government grants.

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MST Financial Update Report: New Funding to Progress McDermitt