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Leading Edge Announces Closing of Non-Brokered Private Placement
Published by Craig P at 14th December 2016
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials“) or (the “Company“) (TSXV: LEM) (OTCQB: LEMIF) is pleased to announce closing of the private placement (the “Placement“) that was announced by the Company on November 18, 2016. Under the Placement, the Company issued 3,982,000 units (the “Units“) at a price of C$0.45 per Unit, for gross proceeds of C$1,791,900. Each Unit is comprised of one common share (a “Share“) of the Company and one common share purchase warrant (a “Warrant“). Each Warrant is exercisable to acquire one additional Share, at a price of C$0.70 per Share, for a period of three years expiring on December 14, 2019.
The Company paid cash finder’s fees of $13,756.50 and issued 30,570 common share purchase warrants (the “Finder’s Warrants“) to two finders in connection with certain subscriptions in the Placement. The Finder’s Warrants have the same terms as the Warrants.
The securities issued pursuant to the Placement are to subject to a four-month hold period expiring on April 15, 2017.
The Company intends to use the net proceeds from the Placement to testwork towards the production of high purity graphite at the Woxna graphite project, to further lithium and cobalt exploration activities, and for general corporate requirements. Proceeds from the Placement will allow an accelerated work program during 2017.
Published by Craig P at 14th December 2016
Categories
Tags
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Vancouver, Canada – Leading Edge Materials Corp. (“Leading Edge Materials“) or (the “Company“) (TSXV: LEM) (OTCQB: LEMIF) is pleased to announce closing of the private placement (the “Placement“) that was announced by the Company on November 18, 2016. Under the Placement, the Company issued 3,982,000 units (the “Units“) at a price of C$0.45 per Unit, for gross proceeds of C$1,791,900. Each Unit is comprised of one common share (a “Share“) of the Company and one common share purchase warrant (a “Warrant“). Each Warrant is exercisable to acquire one additional Share, at a price of C$0.70 per Share, for a period of three years expiring on December 14, 2019.
The Company paid cash finder’s fees of $13,756.50 and issued 30,570 common share purchase warrants (the “Finder’s Warrants“) to two finders in connection with certain subscriptions in the Placement. The Finder’s Warrants have the same terms as the Warrants.
The securities issued pursuant to the Placement are to subject to a four-month hold period expiring on April 15, 2017.
The Company intends to use the net proceeds from the Placement to testwork towards the production of high purity graphite at the Woxna graphite project, to further lithium and cobalt exploration activities, and for general corporate requirements. Proceeds from the Placement will allow an accelerated work program during 2017.