Jindalee Lithium Limited (ASX: JLL) has announced the successful completion of its entitlement offer, raising A$2.4 million. The Australian company, focused on developing the McDermitt Lithium Project in the US, holds one of the largest lithium resources in the region and is strategically positioned to support America’s energy security and domestic supply of critical minerals. This capital raise, as advised on 19 June 2026, follows a previous announcement on 8 May 2026 and contributes to the total of circa A$11 million raised through both the entitlement offer and a recent placement.
The entitlement offer closed for applications on 12 June 2026, with the company completing the allocation and issuance of shares and options on the same day. A total of 5,285,400 fully paid ordinary shares were issued at A$0.46 per share. Eligible shareholders also received one quoted option for every one share allotted, exercisable at A$0.60 and expiring on 30 June 2029, for nil upfront consideration. The offer garnered support from current shareholders through entitlements and a Top-Up Offer, alongside sophisticated investors participating in the Public Shortfall Offer. Participants in the placement announced on 8 May 2026 will also receive options on the same basis, subject to shareholder approval at a general meeting slated for 30 June 2026.
The funds raised from the entitlement offer will be principally directed towards advancing and de-risking the McDermitt Lithium Project. This includes essential exploration and infill drilling, metallurgical testwork, technical studies, and permitting activities. Additionally, a portion of the capital will support the execution of the proposed NASDAQ listing of US Elemental Inc., covering listing and transaction costs, and contributing to general working capital purposes.
Ian Rodger, Jindalee Lithium’s Managing Director and Chief Executive Officer, expressed gratitude for the robust support. Mr Rodger stated, “We are grateful for the support from our shareholders and shortfall investors, with the Entitlement Offer together with the recent placement raising a total of circa A$11 million. The strong response to the Entitlement Offer reflects confidence in Jindalee Lithium Limited and the strategic importance of the McDermitt Lithium Project.” The company’s board of directors approved the release of this announcement.
