PERTH, Australia, Aug. 27, 2018 /CNW/ - LeadFX Inc.
(the "Company" or "LeadFX") (TSX: LFX) announces it has secured
US$3 million in funding under its
existing credit facility ("Sentient Credit Facility") with its
major shareholder Sentient Global Resources Fund IV LP
("Sentient").
The Company has negotiated an amendment ("Amendment") with
Sentient to the Sentient Credit Facility whereby Sentient will make
a US$3 million advance to fund the
Company's engineering, metallurgical and project development
activities at the Paroo Station Lead Mine and general working
capital purposes.
The Sentient Credit Facility is secured, accrues interest at the
rate of 10% per annum and matures on the earlier of March 31, 2019 and the full funding of the Paroo
Station Lead Mine (refer to press release dated February 27, 2018). Following the Amendment the
amount owing under the Senior Credit Facility will be approximately
US$20.0 million. The Amendment is
subject to the Company receiving approval from the Toronto Stock
Exchange.
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 expected
use of proceeds. Toronto Stock Exchange approval for the Amendment
and the maturity date of the Sentient Credit Facility.
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.