(All dollar amounts are in Canadian dollars unless otherwise indicated )
PERTH, AUSTRALIA, April 9, 2018 /CNW/ - LeadFX Inc. (the
"Company" or "LeadFX") (TSX: LFX) announces it has entered into a binding term sheet and subscription agreements
with Sentient Global Resources Fund IV, LP ("Sentient") and InCoR Energy Metals Limited ("InCoR") for the issue of
488,208 units of the Company each unit being comprised of one (1) common share of the Company ("Common Share") and one
half Common Share purchase warrant ("Warrant") for each one (1) Common Share issued (hereinafter, a "Unit").
Subject to Toronto Stock Exchange approval, the Units shall be issued at $1.40 per Unit by way
of non-brokered private placement for gross proceeds of approximately $683,491 (the
"Offering"). Each whole warrant will entitle the holder thereof to purchase one (1) additional Common Share at a price of
$1.75 for a period of 60 months from the closing date of the Offering.
|
Units
|
|
Common Shares
|
Warrants
|
Sentient
|
229,946
|
114,973
|
InCoR
|
258,262
|
129,131
|
Total
|
488,208
|
244,104
|
Proceeds from the Units will be applied toward general corporate and working capital needs of the Company. The Offering is
expected to close by April 13, 2018.
The Company's capital structure at the completion of the Offering is expected to be as follows, not including out of the money
options:
|
Common Shares Outstanding
|
Interest in Common Shares
|
Balance of InCoR Umbrella Agreement Warrants
|
Warrants exercisable at $0.61 per Common Shares
|
Warrants exercisable at $1.75 per Common Share
|
Fully Diluted Equity
|
Interest in Fully Diluted Equity
|
Sentient
|
35,455,628
|
52.7%
|
-
|
1,153,554
|
114,973
|
36,724,155
|
48.6%
|
InCoR
|
26,085,728
|
38.8%
|
5,750,000
|
1,220,747
|
129,131
|
33,185,606
|
43.9%
|
Other
|
5,700,056
|
8.5%
|
-
|
-
|
-
|
5,700,056
|
7.5%
|
Total
|
67,241,412
|
100.0%
|
5,750,000
|
2,374,301
|
244,104
|
75,609,817
|
100.0%
|
Forward looking statements
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws.
Examples of forward-looking information in this news release include but are not limited to statements and information
concerning the following: Toronto Stock Exchange approval of the Offering, the expected capital structure of the Company upon
completion of the Offering and timing of closing of the Offering. Forward-looking statements are often, but not always,
identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'',
''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could''
or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions
and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are
based on expectations, estimates and projections as at the date of this news release and are subject to a number of risks and
uncertainties. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed
or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered
and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of
this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its
entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release
publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this
news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities
laws.
SOURCE LeadFX Inc.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/April2018/09/c1533.html