Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) is pleased to announce that it has successfully obtained $1,488,500 in tax offsets and franking credits through the Australian Taxation Office’s Junior Minerals Exploration Incentive (JMEI) scheme for the 2024/25 financial year. These credits will be distributed to eligible investors who acquire new Barton shares between 1 July 2024 and 30 June 2025.
The JMEI scheme allows eligible exploration companies like Barton to generate refundable tax credits for distribution to eligible investors. Individual shareholders and superannuation funds are entitled to refundable tax offsets, while corporate investors receive franking credits. The amount of credits issued to each investor is limited to the amount they paid to acquire new shares, multiplied by Barton’s corporate tax rate.
It is important to note that the actual number of JMEI credits received by each investor will depend on various factors, including the total number of new shares issued, Barton’s exploration expenditure, the company’s tax loss for the financial year, and individual shareholder circumstances.
Barton Gold Holdings expresses gratitude to the ATO and the Australian Federal Government for their support. The company has a strong track record of securing non-dilutive funding, exceeding $10 million over the past three years, with government programs playing a significant role.
With over $10 million in cash reserves, Barton is currently well-capitalized and has no plans for new capital raising. However, the ability to distribute JMEI credits presents a valuable opportunity for the company’s investors.
For further information about the JMEI scheme, interested parties can visit the Australian Taxation Office website.
For media inquiries, please contact Alexander Scanlon, Managing Director of Barton Gold Holdings Limited, at a.scanlon@bartongold.com.au or +61 425 226 649.