June 25, 2020, 7:23 p.m. EDT

Alligator Energy Ltd (asx:AGE) Awarded SA Govt ADI Funding and JMEI Distribution

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2. Commence drilling campaign to scout drill channels using RAB or aircore

The outcome of this work program will result in the testing of the BLU project to potential uranium discovery level.

Junior Minerals Exploration Incentive (JMEI) Credit Distribution

In March 2018, the Federal Parliament passed legislation introducing the JMEI Scheme with effect from 1 July 2017 for a four-year period based on an annual application process. The ATO is the administrator of the Scheme. The JMEI Scheme encourages investment in small mineral exploration companies that carry out "greenfields" mineral exploration in Australia, by allowing such companies to generate a tax incentive by choosing to give up a portion of their losses from "greenfields" mineral exploration expenditure for distribution to investors. The Scheme enables eligible exploration companies to create refundable tax credits to distribute to eligible shareholders.

Alligator is now pleased to confirm that Distribution Notices for JMEI Credits relating to the 2019- 20 tax year have been despatched to Shareholders who participated in 2018-19 capital raisings conducted through both a Rights Issue and subsequent Placement by BW Equities. A total of $336,958 in JMEI Credits (calculated at a tax rate of 27.5%) were distributed to this eligible group of Shareholders. Australian resident shareholders that are issued with JMEI credits will generally be entitled to refundable tax offsets (for individual shareholders or superannuation funds) or franking credits (for companies). Receiving a JMEI credit could have tax consequences and Shareholders who are issued JMEI credits by Alligator should obtain independent tax advice specific to their personal circumstances.

To view details on the JMEI Scheme, please visit:

https://abnnewswire.net/lnk/A31NM1W9

About Alligator Energy Ltd:

Alligator Energy Ltd (asx:AGE) is an Australian, ASX-listed, exploration company focused on uranium and energy related minerals, principally cobalt-nickel.

Alligator's Directors have significant experience in the exploration, development and operations of both uranium and nickel projects (both laterites and sulphides).







        Contact:Mr Greg Hall
        Executive Director and CEO
        Alligator Energy Ltd
        Email: gh@alligatorenergy.com.au
        
        Mr Mike Meintjes
        Company Secretary
        Alligator Energy Ltd
        Email: mm@alligatorenergy.com.au
        


Source:

Alligator Energy Ltd

COMTEX_367385653/2525/2020-06-25T19:22:50

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