en.Wedoany.com Reported - Jindalee Lithium (ASX:JLL) has raised $2.4 million through a share placement to advance its McDermitt lithium project in the United States.

The placement is part of a broader fundraising plan, which includes a placement in May, with total proceeds of approximately $11 million. The company issued 5.29 million shares at $0.46 per share, with eligible shareholders receiving one free listed option for each share held. The options have an exercise price of $0.60 and expire on June 30, 2029. Investors who participated in the May 8 placement will receive options on the same terms, subject to approval at the company's shareholder meeting on June 30.

Jindalee Lithium stated that the proceeds will be used to advance and de-risk the McDermitt project through drilling, metallurgical testing, technical studies, and permitting work. The company will also support US Elemental's proposed Nasdaq listing, including covering related listing and transaction costs.

CEO Ian Rodger said, "The strong response to this placement reflects confidence in the company and the strategic importance of the McDermitt lithium project." Jindalee Lithium holds a 100% interest in the McDermitt lithium project with unencumbered offtake rights, making the asset one of the largest lithium resources in the United States.

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