Leading Edge Materials Reports Quarterly Results to April 30, 2025
NEWS RELEASE June 20, 2025
LEADING EDGE MATERIALS CORP.
14th Floor 1040 West Georgia Street, Vancouver, BC, V6E 4H1
[email protected] | www.leadingedgematerials.com
TSX.V: LEM | Nasdaq First North: LEMSE | OTCQB: LEMIF | FRA: 7FL
LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO APRIL 30, 2025
Vancouver, June 20, 2025 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”)
(TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) announces results for the fiscal period
ending April 30, 2025. All references to dollar amounts in this release are in Canadian dollars.
Highlights During and After the Quarter
During the three months ended April 30, 2025:
• On February 9, 2025, the Company provided an update on a Rapid Development Plan (“RDP”) for
Norra Kärr, to be in production in the shortest possible timeframe, supplying HREE-rich eudialyte concentrate
and industrial mineral nepheline syenite.
• The Company provided an update on the value creation options being considered for Woxna
Graphite, on February 16, 2025, including a possible restart of operations, the production of high-quality flake
graphite concentrate.
• On March 23, 2025, the Company provided a progress update on Norra Kärr, in the context of the
European Commission’s (“EC”) Joint White Paper for European Readiness 2030, highlighting the increasing
geopolitical competition over critical raw materials (“CRMs”) and the need for the EU and its member states to
build strategic reserves of raw materials.
• On March 25, 2025, the EU announced its first list of Strategic Projects under the Critical Raw
Materials Act (“CRMA”); Norra Kärr was not included. The Company stated its plan to reapply in the next round
of applications.
• On April 23, 2025, the Company announced granting of stock options (the “Options”) to directors,
officers and consultants of the Company to purchase an aggregate of 6,850,000 common shares (the
“Optioned Shares”) of the Company, at exercise price of C$0.24 per Optioned Share, expiring on the date that
is 5 years from the date of grant for directors and officers and three years from the date of grant for
consultants. The Options will vest 33% on the date of the grant, 33% one year after the date of grant and 34%
two years after the date of grant. The Options were issued pursuant to the terms of the Company’s Option
Plan.
Results of Operations
Three Months Ended April 30, 2025, Compared to Three Months Ended January 31, 2025
During the three months ended April 30, 2025 (“Q2 2025”) the Company reported a net loss of $1,179,168
compared to a reported net loss of $669,216 for the three months ended January 31, 2025 (“Q1 2025”), an
increase in loss by $509,952, the increase in loss mainly due to share based compensation expenses of $585,529
(Q1 2025 - $129,292) and foreign exchange loss of $117,063 (Q1 2025 - gain $1,690).
Three Months Ended April 30, 2025, Compared to Three Months Ended April 30, 2024
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During the three months ended April 30, 2025 (“2025 period”), the Company reported a net loss of $1,179,168
compared to a net loss of $859,529 for the three months ended April 30, 2024 (“2024 period”), an increase in
loss of $319,639, the increase in loss mainly due to share based compensation expenses of $585,529 (Q2 2024
- $349,923) and foreign exchange loss of $117,063 (Q2 2024 - $5,754).
Selected Financial Data
The following selected financial information is derived from the unaudited condensed consolidated interim
financial statements of the Company prepared in accordance with IFRS.
Fiscal 2025 Fiscal 2024 Fiscal 2023
Three Months
Ended
April 30,
2025
$
January
31,
2025
$
October
31,
2024
$
July 31,
2024
$
April 30,
2024
$
January 31,
2024
$
October
31,
2023
(Restated)
$
July 31,
2023
(Restated)
$
Operations
Expenses
(1,070,402)
(696,037)
(97,209)
(797,070)
(863,745)
(660,617)
(457,890)
(309,832)
Other items
(108,766)
26,821
(222,820)
(25,168)
4,216
(25,311)
195,209
(8,442)
Comprehensive
profit/(loss)
(1,179,168)
(669,216)
(320,029)
(822,238)
(859,529)
(685,928)
(262,681)
(318,274)
Basic Profit/(loss) per
share (0.01) (0.00) (0.00) (0.00) (0.01) (0.00) (0.00) (0.00)
Diluted profit/(loss)
per share (0.01) (0.00) (0.00) (0.00) (0.01) (0.00) (0.00) (0.00)
Financial Position
Working capital
1,191,514
2,198,641
3,337,686
3,973,458
1,610,635
2,316,098
2,713,098
848,952
Total assets
28,361,774
28,480,311
29,343,71
6
28,454,78
3
24,991,48
1
26,003,943
25,512,11
1
23,588,66
2
Total non -current
liabilities
(6,009,933)
(5,596,369)
(5,641,854
)
(5,683,545
)
(5,101,289
)
(5,489,843)
(4,670,790
)
(5,109,575
)
Financial Condition / Capital Resources
During the three months ended April 30, 2025, the Company recorded a net loss of $1,179,168 and, as of April
30, 2025, the Company had an accumulated deficit of $51,201,042 and working capital of $1,191,514. The
Company maintains its Woxna Graphite mine in a “production -ready” basis while minimizing costs. The
Company is also evaluating a potential restart of flake graphite concentrate production. The Company
anticipates that it has sufficient funding to meet anticipated levels of corporate administration and overheads
for the ensuing twelve months however, it will need additional capital to provide working capital and
recommence operations at the Woxna Graphite, to fund future development of the Norra Kärr project or to
complete exploration activities in Romania. There is no assurance such additional capital will be available to the
Company on acceptable terms or at all. In the longer term the recoverability of the carrying value of the
Company’s long-lived assets is dependent upon the Company’s ability to preserve its interest in the underlying
mineral property interests, the discovery of economically recoverable reserves, the achievement of profitable
operations and the ability of the Company to obtain financing to support its ongoing exploration programs and
mining operations.
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Outlook
Concerns about critical raw materials - security of supply, supply chain resilience and defence requirements –
have been recurring themes at conferences attended by the Company in recent months, with HREEs and natural
graphite frequently mentioned; geopolitical uncertainties continue, with more talk about the weaponization of
global trade in rare earth elements.
On June 17, 2025, the G7 Critical Minerals Action Plan was announced focused on ‘diversifying the responsible
production and supply of critical minerals, encouraging investments in critical mineral projects and local value
creation, and promoting innovatio n’ in the G7, and with partners beyond, working together and ‘to swiftly
protect our economic and national security’'. Against this backdrop and calls for more action to match the
intent of the CRMA, the Company’s portfolio is well positioned.
Woxna Graphite Mine
The Company maintains the Woxna Graphite Mine in a production-ready state while minimizing holding costs.
An internal study completed in early 2022 assessed the potential for restarting operations and upgrading the
processing plant to produce high -quality flake graphite concentrate. Wor k is now underway to update this
study, forming the basis of a business plan to support possible project financing, customer prepayments, and
access to Swedish or EU public funding, and, in addition.
Highlighting Sweden’s role in CRMs and graphite’s importance, Sweden’s Energy, Business and Industry Minister
Ebba Busch recently stated that “Sweden has unique opportunities to be and remain a strong player in global
mineral politics. We have the most sus tainable mining industry in the world – ethically sustainable,
environmentally sustainable, and with good working conditions. The graphite that [Talga Group] is planning to
produce is a key material in battery manufacturing and the green transition to a fossil-fuel-free society.”
Norra Kärr Heavy Rare Earth Element (“HREE”) Project
As part of its Pre-feasibility (“PFS”) workstreams, the Company is developing a Rapid Development Plan (“RDP”)
for Norra Kärr to enable the earliest possible production of HREE -rich eudialyte concentrate and industrial
mineral nepheline syenite. A phased, small-scale start is under consideration to allow early access to the
deposit, initial sales of nepheline syenite, early cash flow, and stockpiling of eudialyte concentrate for future
processing. This approach is designed to reduce both risk and environmental impacts.
Testwork has now been completed on nepheline syenite and aegirine to determine their mineralogy, chemical
composition, and leachate chemistry. The promising results are being used to determine possible market
segments and specifications that can be achieved, potential demand and pricing, to be included in an updated
PFS economic model for Norra Kärr. The Company envisages the PFS will be completed in Q1 2026.
On 24 March 2025, the EU announced its first list of Strategic Projects under the Critical Raw Materials Act
(CRMA); Norra Kärr was not included. The Company plans to reapply in the next round of applications having
continued to make significant progress since the last application was submitted in August 2024.
In recent months, the Company’s application for a new Exploitation Concession (“Bearbetningskoncession”) 25-
year mining lease has been out for consultation with County Administrative Boards (“CAB”) and municipalities.
The Company understands that CAB opini ons have been received by the Mining Inspectorate (“Bergsstaten”).
The Company will have an opportunity to respond to opinions and comments.
Bihor Sud Nickel-Cobalt Exploration Project
Exploration activities at the Bihor Sud project have continued, supported by the hard work of the four new
geologists who joined the team in January. Works have included underground mapping, diamond drilling,
geophysics, core logging, and sampling. The Company’s goal remains to define a large-scale, mineable mineral
resource; in gallery G2, targeting promising Zinc -Lead-Copper-Silver mineralization. Results to date are
encouraging and underscore the project's strong potential for a significant polymetallic discovery.
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Financial Information
The report for three months ending July 31, 2025, is expected to be published on or about September 19,
2025.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Kurt Budge, CEO
For further information, please contact the Company at:
www.leadingedgematerials.com
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About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw
material projects located in the European Union. Critical raw materials are determined as such by the
European Union based on their economic importance an d supply risk. They are directly linked to high
growth technologies such as lithium -ion batteries and permanent magnets for electric motors , wind
turbines and defense applications. The portfolio of projects includes the 100% owned Woxna Graphite
mine (Sweden), 100% owned Norra Kärr H eavy Rare Earth Elements project (Sweden), and the 51%
owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
Additional Information
The information was submitted for publication through the agency of the contact person set out above,
on June 20, 2025, at 2:30 PM Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF”
and Nasdaq First North Stockholm under the symbol “LEMSE”. Svensk Kapitalmark nadsgranskning
(“SKMG”) is the Company’s Certified Adviser for the Nasdaq First North Growth Market (Stockholm) and
may be contacted via email [email protected] or by phone +46 (0)8 913 008.
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 busine ss 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 f orward-looking statements as a result of various
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factors, including, but not limited to, fluctuations in market prices, changes in the Company’s intended
use of proceeds from the Private Placement, successes of the operations of the Company, continued
availability of capital and financing and general eco nomic, 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.