(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.
Forward-Looking Statements
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.