(All dollar amounts are in Canadian dollars
unless otherwise indicated)
PERTH, Australia, May 17, 2018 /CNW/ - LeadFX Inc. (the
"Company" or "LeadFX") (TSX: LFX) announces it has
closed in full the private placement announced April 9, 2018.
InCoR Materials and Energy Ltd ("InCoR") has subscribed
today to 258,262 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").
The Units have been issued to Sentient Global Resources Fund IV,
LP ("Sentient") (refer press release dated May 8, 2018) and InCoR at $1.40 per Unit by way of a non-brokered private
placement for gross proceeds of approximately $683,491 (the "Offering") as shown in the
table below. 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 their
respective closing dates 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.
SOURCE LeadFX Inc.