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VANCOUVER, Nov. 21, 2018 /CNW/ - Leading Edge Materials
Corp. ("Leading Edge Materials" or the "Company")
(TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB:
LEMIF) is pleased to announce that it has closed its previously
announced non-brokered private placement (the "Offering"),
pursuant to which it has issued an aggregate of 6,027,855 units
(each a "Unit") at a price of $0.28 per Unit for gross proceeds of
approximately $1,687,799.40. Each
Unit was comprised of one common share of the Company (a "Common
Share") and one common share purchase warrant, with each
warrant exercisable into one Common Share of the Company at a price
of $0.37 until November 21, 2021 (a "Warrant").
In connection with the Offering, the Company paid a total of
$6,384 in cash to eligible finders
who introduced subscribers to the Offering.
All securities issued under the Offering, including securities
issuable on exercise of the Warrants, were delivered from
Canada and are subject to a hold
period expiring March 22, 2019. The
minimum investment for European Economic Area ("EEA")
investors in the Offering was an amount equivalent to at least
EUR 100,000.
Mr. Blair Way, President and CEO,
commented, "We are pleased to have met our objectives for this
financing given the current market conditions."
The Company intends to use the net proceeds from the Offering to
continue to advance the Woxna graphite production facility to meet
the demands of the lithium ion battery market, to further
exploration activities on other critical materials for the energy
storage market and for general working capital purposes.
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 21 November, 2018 at 15:30
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 use of
proceeds from the Offering. 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, 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 Offering 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
Offering. 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