- Jameson Resources (JAL) will undertake a $4.74 million capital raise to advance the Crown Mountain Hard Coking Coal Project in Canada
- Over 39 million new fully paid shares will be issued to shareholders at 12 cents each
- Jameson will primarily use the funds for an Environmental Assessment Application for Crown Mountain, a bankable feasibility study, and general working capital
- Additionally, the company’s major shareholder, AustralianSuper, has subscribed for $1 million which will increase its shareholding from 14 per cent to 14.97 per cent
- Jameson has ended the day 16.1 per cent in the red with shares trading for 13 cents each
Jameson Resources (JAL) will undertake a $4.74 million capital raise to advance the Crown Mountain Hard Coking Coal Project in Canada.
Approximately 39.57 million new fully paid shares will be issued to shareholders at a price of 12 cents each.
This price represents a 22.6 per cent discount to the company’s last closing price of 15.5 cents on July 15, and an 18.5 per cent discount to the 10-day volume-weighted average price of 14.7 cents.
Additionally, the company’s major shareholder, AustralianSuper, has subscribed for $1 million which will increase its shareholding from 14 per cent to 14.97 per cent.
Jameson will primarily use the funds for an Environmental Assessment Application for Crown Mountain, a bankable feasibility study, and general working capital.
Shares are expected to be allocated on July 28.
Once the capital raise is completed, the company will have a cash position of $7.3 million.
Jameson has ended the day 16.1 per cent in the red with shares trading for 13 cents each in a $40.88 million market cap.