(All dollar amounts are in Canadian dollars unless otherwise indicated)
PERTH, AUSTRALIA, Dec. 19, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) today announces that further to the Company's news release dated December 14, 2017 the Company has closed the first of two tranches of its non-brokered private placing for the issue of up to 2,374,301 units, each unit being comprised of one (1) common share of the Company ("Common Share") and one (1) Common Share purchase warrant for each one (1) Common Share issued (hereinafter, a "Unit").
Sentient Global Resources Fund IV, LP ("Sentient") has purchased 576,777 Units and InCoR Energy Metals Limited ("InCoR") has purchased 610,373 Units in this first tranche.
The Units are being issued at $0.49 per Unit for gross proceeds of $1,163,407 (the "Offering"). Each warrant entitles the holder thereof to purchase one (1) additional Common Share at a price of $0.61 any time within 60 months of completion of the Offering.
The Common Shares sold are subject to a four month hold period, which under applicable Canadian securities laws, expires on April 20, 2018.
The second tranche of the Offering is due to be completed on or before January 12, 2018.
Proceeds from the Offering will be used for general corporate and working capital purposes.
At the completion of this tranche of the Offering, Sentient and InCoR will own 81.4% and 5.2% respectively of the issued and outstanding Common Shares of LeadFX.
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. An example of forward-looking information in this news release includes but is not limited to statements and information concerning timing of the closing of the second tranche of the Offering. Forward-looking statements are often, but not always, identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'', ''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could'' or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based on expectations, estimates and projections as at the date of this news release and are subject to a number of risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
SOURCE LeadFX Inc.