Jameson Resources (ASX:JAL) received binding commitments from existing shareholders and other sophisticated investors to raise around AU$3.5 million through the issue of around 100 million new fully paid ordinary shares at AU$0.035 apiece via a two-tranche share placement, according to a Monday Australian bourse filing.
Around 98.4 million shares will be issued to raise approximately AU$3.4 million under its existing placement capacity. The shares are expected to be issued on June 5.
A further 1.6 million shares will be issued to the directors of the firm to raise an additional AU$60,000, subject to shareholder approval.
Euroz Hartleys acted as the lead manager for the placement.
It will use the funds for technical studies in response to information requests from Indigenous Nations, regulators, and the public during the public and technical review of the Crown Mountain hard coking coal project's environmental assessment application, among others.
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