Leading Edge Materials Provides Update on Bihor Sud Exploration License Application, Romania
Leading Edge Materials Provides Update on
Bihor Sud Exploration License Application,
Romania
VANCOUVER
,
Jan. 29, 2020
/CNW/ -
Leading Edge Materials Corp.
("
Leading Edge Materials
"
or the
"Company
") (
TSXV: LEM
) (
OTCQB: LEMIF
) (
Nasdaq First North: LEMSE
) provides a
further update on the tender process for the Bihor Sud Exploration License in Romania.
As previously reported (see Press Releases dated
4
th
October 2019
and
15
th
October 2019
)
Leading Edge Materials, via its 51% owned subsidiary LEM Resources SRL, submitted an
application under a competitive tender process for the Bihor Sud Exploration License. The
application was submitted to the Agenţia Natională pentru Resurse Minerale ("
NAMR
"), who on
closing of the bid period, advised the Company that application documents were compliant and a
second party (the "
Second Bid Party
") had tendered for the Exploration License. A decision on the
winning bid has not yet been announced.
Leading Edge Materials has been advised that the Second Bid Party has lodged an appeal to the
Bucharest
Court of Appeal against NAMR. The appeal seeks to cancel the outcome of the tender
process for the Bihor Sud Exploration License before a winner is declared. Adjudication of the
tender has been suspended until the appeal by the Second Bid Party has been definitively resolved.
LEM Resources SRL is receiving legal advice as to the status of the tender. LEM Resources SRL is
not a party to the appeal but may intervene in court as an affected party. A first hearing is scheduled
for
February 28, 2020
.
Leading Edge Materials will advise the market as information becomes available.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Mr.
Mark Saxon
, Interim CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on production of high value critical
raw materials for the European market. LEM's assets and research focus are towards the raw
materials for Li-ion batteries, high thermal efficiency and materials that improve the efficiency of
energy generation. Investments are linked to the global shift to low-carbon energy generation and
energy storage.
Additional Information
The information was submitted for publication through the agency of the contact person set out
above, at
January 29, 2020
at
3:00 PM
Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol "LEM" and Nasdaq First North
Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is the Company's CA on
Nasdaq First North and may be contacted at +46 (0) 8 5030 1550.
Reader Advisory
This news release may contain
statements which constitute "
forward-looking information
",
including statements regarding the plans, intentions, beliefs and
current expectations
of the
Company, its directors, or its officers with respect to the future business activities of the Company.
The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" and similar expressions,
as
they relate to the Company, or its management, are intended
to identify such forward-looking statements. Investors are cautioned that any such forward-looking
statements are not
guarantees of future
business activities and
involve risks
and
uncertainties
,
and
that
the Company's future business activities
may
differ
materially from those
in the forward-
looking
statements
as a result of various factors, including,
but not limited to,
fluctuations in market
prices, successes of the operations of the Company, continued availability of capital and financing
and general economic, market or business
conditions
. There can be no assurances that such
information
will prove accurate and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. The Company does not assume
any obligation to update any forward-looking
information except as required
under the applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of
this news release.
SOURCE
Leading Edge Materials
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For further information:
Please contact the Company at: 1.604.685.9316,
[email protected], www.leadingedgematerials.com
CO: Leading Edge Materials
CNW 18:00e 29-JAN-20