Barton Allocated $1,488,500 in JMEI Tax Credits

Rhea-AI Summary

Barton Gold Holdings (ASX:BGD, OTCQB:BGDFF) has been allocated $1,488,500 in Junior Minerals Exploration Incentive (JMEI) credits by the Australian Taxation Office for the 2024/25 financial year. These credits can be distributed to eligible investors who acquire new Barton shares between July 1, 2024, and June 30, 2025.

The JMEI scheme allows eligible exploration companies to offer refundable tax offsets or franking credits to new investors. The actual amount received by each investor will depend on factors such as the total new shares issued, Barton's greenfields exploration expenditure, and the company's tax loss for the year.

Barton's Managing Director, Alex Scanlon, highlighted that this allocation adds to the company's track record of generating non-dilutive funding, which has exceeded $10 million over the past three years. While Barton currently has over $10 million in cash and no plans for new capital raising, the JMEI credits offer potential value to investors.

Positive

• Allocated maximum possible JMEI credits of $1,488,500 for FY 2024/25
• Over $10 million in non-dilutive funding generated in the past three years
• Well-capitalized with over $10 million cash on hand

Negative

• None.

Available for distribution to new eligible investors before 30 June 2025

HIGHLIGHTS

• Up to $1,488,500 in refundable tax offsets / franking credits available to eligible investors

• Offsets / franking credits apply to new shares issued during the 2024 / 2025 financial year

ADELAIDE, AUSTRALIA / ACCESSWIRE / July 14, 2024 / Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to announce that it has been advised by the Australian Taxation office (ATO) that its application for the 2024/25 financial year's Junior Minerals Exploration Incentive (JMEI) scheme has been successful.

The ATO has confirmed that JMEI credits of $1,488,500 - the maximum possible for financial year 2024/45 - have been allocated to the Company for distribution to eligible acquirors of new shares.

The JMEI Scheme

Australian resident shareholders who acquire newly issued Barton shares (for example, in a placement) between 1 July 2024 and 30 June 2025 are entitled to receive JMEI credits (Eligible Investors).

The JMEI scheme enables eligible exploration companies to create eligible refundable tax credits to distribute to Eligible Investors, who will generally be entitled to refundable tax offsets (in the case of individual shareholders or superannuation funds) or franking credits (in the case of corporate investors).

The credits that can be issued to any given investor are limited to the amount paid by an Eligible Investor to acquire new shares, multiplied by Barton's corporate tax rate. Credits are issued proportionally to each Eligible Investor's investment, so streaming of exploration credits to particular investors is not permitted.

Investors should be aware that Barton cannot guarantee that Eligible Investors will receive the maximum number of JMEI credits available, as the actual number received by each Eligible Investor for the 2024/25 financial year will depend on several factor including (but not limited to):

• the total number of new Barton shares issued between 1 July 2024 and 30 June 2025;

• the amount of allowable ‘greenfields' exploration expenditure incurred by Barton during that time;

• Barton's tax loss for the 2024/25 financial year, and

• each shareholder's individual circumstances.

For further information about the JMEI scheme, please refer to the Australian Taxation office website here.

Commenting on the Barton's award of JMEI credits, Barton MD Alex Scanlon said:

"We thank the ATO and the Australian Federal Government for their extensive support of Barton's work in South Australia. Barton has a considerable track record of generating non-dilutive sources of funding, now exceeding $10 million during the past three years, and Federal Government programs have been a significant contributor.

"Barton is presently very well capitalised with over $10 million cash and has no plans to raise any new capital, however Barton's prospective ability to distribute these JMEI credits offers considerable value to our investors."

Authorised by the Board of Directors of Barton Gold Holdings Limited.

For further information, please contact:

Alexander Scanlon
Managing Director
a.scanlon@bartongold.com.au
+61 425 226 649

Shannon Coates
Company Secretary
cosec@bartongold.com.au
+61 8 9322 1587

SOURCE: Barton Gold Holdings Limited

View the original press release on accesswire.com

FAQ

What is the amount of JMEI credits allocated to Barton Gold Holdings (BGDFF) for 2024/25?

Barton Gold Holdings (BGDFF) has been allocated $1,488,500 in Junior Minerals Exploration Incentive (JMEI) credits for the 2024/25 financial year.

When can eligible investors acquire new Barton Gold (BGDFF) shares to receive JMEI credits?

Eligible investors can acquire new Barton Gold (BGDFF) shares to receive JMEI credits between July 1, 2024, and June 30, 2025.

How much cash does Barton Gold Holdings (BGDFF) currently have on hand?

According to the press release, Barton Gold Holdings (BGDFF) is currently well-capitalized with over $10 million in cash on hand.

What factors determine the actual JMEI credits received by Barton Gold (BGDFF) investors?

The actual JMEI credits received by Barton Gold (BGDFF) investors depend on factors such as the total new shares issued, Barton's greenfields exploration expenditure, the company's tax loss for 2024/25, and individual shareholder circumstances.