(All dollar amounts are in Canadian dollars
unless otherwise indicated)
PERTH, AUSTRALIA, April 9, 2018 /CNW/ - LeadFX Inc. (the
"Company" or "LeadFX") (TSX: LFX) announces it has
entered into a binding term sheet and subscription agreements with
Sentient Global Resources Fund IV, LP ("Sentient") and InCoR
Energy Metals Limited ("InCoR") for the issue of 488,208
units of the Company each unit being comprised of one (1) common
share of the Company ("Common Share") and one half Common
Share purchase warrant ("Warrant") for each one (1) Common
Share issued (hereinafter, a "Unit").
Subject to Toronto Stock Exchange approval, the Units shall be
issued at $1.40 per Unit by way of
non-brokered private placement for gross proceeds of approximately
$683,491 (the "Offering").
Each whole warrant will entitle the holder thereof to purchase one
(1) additional Common Share at a price of $1.75 for a period of 60 months from the closing
date of the Offering.
|
Units
|
|
Common
Shares
|
Warrants
|
Sentient
|
229,946
|
114,973
|
InCoR
|
258,262
|
129,131
|
Total
|
488,208
|
244,104
|
Proceeds from the Units will be applied toward general corporate
and working capital needs of the Company. The Offering is expected
to close by April 13, 2018.
The Company's capital structure at the completion of the
Offering is expected to be as follows, not including out of the
money options:
|
Common Shares
Outstanding
|
Interest in Common
Shares
|
Balance of InCoR
Umbrella Agreement Warrants
|
Warrants
exercisable at $0.61 per Common Shares
|
Warrants
exercisable at $1.75 per Common Share
|
Fully Diluted
Equity
|
Interest in Fully
Diluted Equity
|
Sentient
|
35,455,628
|
52.7%
|
-
|
1,153,554
|
114,973
|
36,724,155
|
48.6%
|
InCoR
|
26,085,728
|
38.8%
|
5,750,000
|
1,220,747
|
129,131
|
33,185,606
|
43.9%
|
Other
|
5,700,056
|
8.5%
|
-
|
-
|
-
|
5,700,056
|
7.5%
|
Total
|
67,241,412
|
100.0%
|
5,750,000
|
2,374,301
|
244,104
|
75,609,817
|
100.0%
|
Forward looking statements
This news release may contain "forward-looking statements"
within the meaning of applicable Canadian securities laws. Examples
of forward-looking information in this news release include
but are not limited to statements and information concerning
the following: Toronto Stock Exchange approval of the Offering, the
expected capital structure of the Company upon completion of the
Offering and timing of closing 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.