Jindalee Lithium Limited (ASX: JLL), a company focused on developing and exploring lithium resources, today announced the issue of a Share Purchase Plan (SPP) Option Issue Prospectus. Jindalee Lithium is dedicated to advancing its projects, including the McDermitt Lithium Project in the United States. The prospectus details the offer of one option for every one share issued to participants under the SPP, for nil upfront consideration. These SPP Options have an exercise price of $0.825 and are exercisable until 5:00pm (Perth time) on 30 November 2028.
The Prospectus also covers the offer of options to participants in the Initial Placement, options to directors or their associates in accordance with the Conditional Placement, and options to be issued to the Lead Managers for capital raising services. Jindalee is not raising funds through the issue of SPP options, as they are being issued for nil consideration to incentivise and reward shareholders who participated in the SPP. If fully subscribed and all SPP Options are exercised, Jindalee anticipates receiving approximately $1,500,000.
The company anticipates further funds may be received upon exercise of the Conditional Option Offer and the Broker Option Offer. A maximum of approximately 1,818,182 options may be issued pursuant to the Offer. The issue of the options themselves will have no effect on the control of Jindalee. However, if a participant elects to exercise any options issued to them, it will increase their overall percentage shareholding.
The Prospectus contains important information for potential investors, and Jindalee encourages all recipients to read it in its entirety and consult with their professional advisors before making any decisions. The company has made application to the ASX for quotation of the options.
