Constellation signs non-binding LOI to merge with Jindalee subsidiary; implied equity value $500M

Constellation Acquisition Corp I

Jindalee to receive 50M NewCo shares at $10/share, valuing its US assets at $500M.
Capital raise of $20-30M planned, with $4M committed by affiliates of Antarctica Capital.
NewCo to list on a US national exchange; Jindalee expected to retain >80% ownership.
Binding agreement targeted for Q4 2025; closing expected in late 1H 2026.
Transaction involves HiTech Minerals' McDermitt Lithium Project in Oregon.

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