(All dollar amounts are in Canadian dollars unless otherwise indicated )
PERTH, Australia, May 8, 2018 /CNW/ - LeadFX Inc.
(the "Company" or "LeadFX") (TSX: LFX) announces it has closed in part the private placement announced April 9, 2018.
Sentient Global Resources Fund IV, LP ("Sentient") has subscribed to 229,946 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").
The Company has today closed Sentient's contribution. InCoR Energy Metals Limited's ("InCoR") subscription to 258,262
Units is expected to close in the coming days. The Units have been issued to Sentient, and will be issued to InCoR, at
$1.40 per Unit by way of a 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 their respective
closing dates 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.
Annual General Meeting
The Company's Annual and Special Meeting of shareholders is scheduled for May 15, 2018. It has
come to the attention of the Company that the Management Information Circular dated April 12, 2018
incorrectly specified the record date as April 12, 2018. The correct record date is April 10 , 2018 and shareholders of record as at 5:00pm (Toronto time) on April 10 , 2018 will be entitled to vote.
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 includes but is not limited to statements and information concerning
the following: 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/May2018/08/c3143.html