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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.
![Leading Edge Materials (CNW Group/Leading Edge Materials) Leading Edge Materials (CNW Group/Leading Edge Materials)](https://mma.prnewswire.com/media/781550/Leading_Edge_Materials_Leading_Edge_Updates__2_000_000_Non_Broke.jpg)
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