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DISSEMINATION IN THE UNITED STATES/
(All dollar amounts are in Canadian dollars unless otherwise indicated)
PERTH, Australia, Nov. 2, 2018 /CNW/ - LeadFX Inc.
("LeadFX" or the "Company") (TSX: LFX) advises it has extended the closing date for the sale of its indirect equity
and debt interests ("Chief Interests") in Chief Consolidated Mining Company ("Chief") to November 30, 2018.
On July 30, 2018 LeadFX announced it had signed definitive documentation to sell its Chief
Interests to Ruby Hollow LLC and 321888 LLC, unrelated special purpose companies associated with Riverfield Capital, for
US$4.5 million.
On closing gross proceeds of US$3 million will be paid to LeadFX with the balance of
US$1.5 million, subject to adjustments, due 12 months from closing.
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 expected timing for closing of the sale of the Company's Chief Interests. 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.
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