Brief: Jindalee Resources Ltd Announces Update On Spin-Out Of Australian Assets

Jindalee Lithium

09/11/2022 01:31

Nov 9 (Reuters) - Jindalee Resources Ltd  JRL.AX :
    * UPDATE ON SPIN-OUT OF AUSTRALIAN ASSETS
    * INTENDS TO SPIN-OUT ITS 100%-OWNED AUSTRALIAN LITHIUM,
NICKEL
AND GOLD ASSETS INTO A NEW INITIAL PUBLIC OFFERING
    * SPIN-OUT ALLOWS JINDALEE TO FOCUS ON ITS FLAGSHIP
MCDERMITT
LITHIUM PROJECT LOCATED IN UNITED STATES
    * DYNAMIC METALS WILL UNDERTAKE AN IPO TO RAISE A MINIMUM OF
A$5M
AND UP TO A$7M AT AN ISSUE PRICE OF A$0.20
    * ELIGIBLE JINDALEE SHAREHOLDERS WILL BE ENTITLED TO
PARTICIPATE
IN A PRIORITY OFFER OF UP TO A$2.5M OF IPO SHARES
    * WILL SEEK SHAREHOLDER APPROVAL FOR DISPOSAL OF AUSTRALIAN
ASSETS
TO DYNAMIC METALS AT ITS UPCOMING ANNUAL GENERAL MEETING

Source text for Eikon:  ID:nASXcqfls 
Further company coverage:  JRL.AX 
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