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Jindalee Resources: Raises $9M via placement

March 15, 2021

Jindalee Resources (JRL) has received firm commitments to raise $9 million via a placement of six million shares to sophisticated and professional investors
The placement also comes at an issue price of $1.50 per new share
Following the completion of the placement, the company will have a cash balance of approximately $10 million and close to $2.2 million in liquid assets
The placement has undertaken using the company’s available placement capacity with 1,469,603 new shares issued
The company expects to issue the new shares on March 19, 2021, with allotment occurring on March 22
Jindalee Resources is up 11.8 per cent, trading at $1.70