Public Offer To Close Early - $3.5 Million Raised

On 16 October 2023, Jindalee Resources Limited (to be renamed “Jindalee Lithium Limited¹”) (Jindalee, the Company) announced a capital raising comprising the issue of up to 3,930,000 new ordinary shares (Shares) at an issue price of $1.40 per Share to raise up to $5,500,000 (before costs) (Capital Raising)².

• Public Offer raising $3.5 million (before costs) to close early
• Priority Offer to Eligible Securityholders raising up to $2.0 million scheduled to close 27 October 2023

Jindalee is pleased to advise that applications have been received for in excess of the maximum amount of $3.5 million (before costs) sought to be raised in the Public Offer. Accordingly, Jindalee has resolved to close the Public Offer early. Shares subscribed for under the Public Offer are expected to be issued to successful applicants on 20 October 2023. Over 150 new sophisticated, professional and retail investors will join the Company’s share register following the Public Offer.

The Capital Raising also includes a Priority Offer of up to 1,430,000 Shares to eligible Jindalee share and option holders on the register as at 5:00pm on 12 October 2023 (Eligible Securityholders). The Priority Offer is scheduled to close 27 October 2023 (unless closed early or extended). The Company intends to issue Shares under the Priority Offer (including Shares already applied for as at today’s date) on 31 October 2023.

Eligible Securityholders interested in subscribing for Shares under the Priority Offer can access the Prospectus and Priority Offer Application Form via the Advanced Share Registry Investor portal: https://www.advancedshare.com.au/Dashboard/Simple-Login, logging in with their SRN/HIN and Post Code and accessing the Corporate Action form via the Document Print tab.

Funds raised will be used to advance exploration and development of the Company’s 100% owned McDermitt Lithium Project and provide general working capital. McDermitt is the largest lithium deposit in the US by contained lithium with 21.5Mt Lithium Carbonate Equivalent (LCE) in Mineral Resource⁴ (Table 1).

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