Leading Edge Updates $2,000,000 Non- Brokered Private Placement
Leading Edge Updates $2,000,000 Non-
Brokered Private Placement
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VANCOUVER
,
Nov. 7, 2018
/CNW/ -
Leading Edge Materials Corp.
("
Leading Edge Materials
" or
the "
Company
") (
TSXV: LEM
) (
Nasdaq First North: LEMSE
) (
OTCQB: LEMIF
) as previously
announced (see press release dated
15 Oct 2018
), the Company is in discussions with various
investors regarding a non-brokered
$2,000,000
private placement (the "
Private Placement
") to
raise proceeds for development of its European lithium ion battery materials portfolio and for general
working capital purposes. Since the Private Placement was announced, global financial markets
have experienced increased volatility, encouraging the Company to reprice the financing to better
match investment sentiment.
Under the modified terms of the Private Placement, Leading Edge Materials will issue up to
7,142,857 units ("
Units
") at a price of
$0.28
per Unit, with each Unit consisting of one (1) common
share (each, a "
Common Share
") in the capital of the Company and one (1) common share
purchase warrant (a "
Warrant
"). Each Warrant will entitle the holder to purchase one Common
Share at a price of
$0.37
per Common Share until the date which is three (3) years from the closing
of the Private Placement, which is expected to occur on or about
November 30, 2018
, but is at the
discretion of the Company (the "
Closing Date
"). Leading Edge Materials will announce the outcome
of the Private Placement post-Closing Date in a subsequent press release. The Private Placement is
directed towards Canadian, Nordic and other international investors. The repricing was determined
by the Leading Edge Materials Board of Directors based on the closing price for the Common
Shares on the date prior to this press release and in compliance with regulatory policies. All
securities issued under the Private Placement, including securities issuable on exercise of the
Warrants, will be delivered from
Canada
and are subject to a hold period expiring four months and
one day from the Closing Date. The minimum investment for European Economic Area ("
EEA
")
investors in the Private Placement will be an amount equivalent to at least
EUR 100,000
.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals, including the approval of the TSX Venture Exchange and Nasdaq
First North.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as
amended (the "
U.S. Securities Act
"), or any U.S. state securities laws, and may not be offered or
sold in
the United States
or to, or for the account or benefit of,
United States
persons absent
registration or an applicable exemption from the registration requirements of the U.S. Securities Act
and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy securities in
the United States
, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Mr.
Blair Way
, President and 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, with an operating base in the Nordic region, a region well
recognized for its promotion and investment in innovation. LEM's flagship asset is the Woxna
Graphite production facility located in central
Sweden
targeting the supply of specialty materials for
lithium ion battery production. LEM's assets and research focus are towards the raw materials for
Li-ion batteries (graphite, lithium, cobalt); materials for high thermal efficiency building products
(graphite, silica, nepheline); and materials that improve the efficiency of energy generation
(dysprosium, neodymium, hafnium). Investments are linked to the global shift to low-carbon energy
generation and energy storage. Leading Edge Materials currently operate in four divisions, Graphite,
Lithium, Rare Earth and Cobalt. Mangold Fondkommission AB is the Company's Certified Adviser
("
CA
") as part of the listing requirements for Nasdaq First North.
Additional Information
This information is inside information that Leading Edge Materials Corp. (publ). is obliged to make
public pursuant to the EU Market Abuse Regulation. The information was submitted for publication
through the agency of the contact person set out above, at
7 November 2018
at 19:45
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 include forward-looking information that is subject to risks and uncertainties.
All statements within, other than statements of historical fact, are to be considered forward-looking,
including statements with respect to the closing of the Private Placement, use of proceeds from the
Private Placement. Although the Company believes the expectations expressed in such forward-
looking information are based on reasonable assumptions, such information is not a guarantee of
future performance and actual results or developments may differ materially from those contained in
forward-looking information. Factors that could cause actual results to differ materially from those in
forward-looking information include, but are not limited to, fluctuations in market prices, successes of
the operations of the Company, the Company's ability to close the Private Placement, 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
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Important information for EEA Investors
The release, announcement or distribution of this press release may, in certain jurisdictions, be
subject to restrictions. The recipients of this press release in jurisdictions where this press release
has been published or distributed shall inform themselves of and follow such restrictions. This press
release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any
securities in Leading Edge Materials in any jurisdiction.
Any investment decision in connection with the Private Placement must be made on the basis of all
publicly available information relating to the Company and the Company's shares/Units. The
information contained in this announcement is for background purposes only and does not purport to
be full or complete. No reliance may be placed for any purpose on the information contained in this
announcement or its accuracy or completeness. This announcement does not purport to identify or
suggest the risks (direct or indirect) which may be associated with an investment in the Company or
the new shares/Units.
This press release is not a prospectus for the purposes of Directive 2003/71/EC as amended (the
"Prospectus Directive"). Leading Edge Materials has not authorised any offer to the public of Units,
shares or rights in any member state of the EEA and no prospectus has been or will be prepared in
connection with the Private Placement. In any EEA Member State, this communication is only
addressed to and is only directed at qualified investors in that Member State within the meaning of
the Prospectus Directive or investors with a minimum investment amount equivalent to at least
EUR
100,000
.
[In the
United Kingdom
, this document and any other materials in relation to the securities described
herein is only being distributed to, and is only directed at, and any investment or investment activity
to which this document relates is available only to, and will be engaged in only with, "qualified
investors" who are (i) persons having professional experience in matters relating to investments who
fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities
falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as
"relevant persons"). In the
United Kingdom
, any investment or investment activity to which this
communication relates is available only to, and will be engaged in only with, relevant persons.
Persons who are not relevant persons should not take any action on the basis of this document and
should not act or rely on it.]
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 22:45e 07-NOV-18