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LeadFX Private Placement Offering

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hitpaydirt   Friday, 12/15/17 11:33:20 AM
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LeadFX Private Placement Offering

Canada NewsWire

PERTH, Australia, Dec. 14, 2017

PERTH, Australia, Dec. 14, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX ") (TSX: LFX) today announces that it has entered into a binding term sheet with Sentient Global Resources Fund IV, LP ("Sentient") and InCoR Energy Materials Limited ("InCoR") for the issue of up to 2,374,301 units, each unit being comprised of one (1) common share of the Company ("Common Share") and one (1) Common Share purchase warrant for each one (1) Common Share issued (hereinafter, a "Unit").

Subject to TSX approval, the Units shall be issued at $0.49 per Unit by way of non-brokered private placement for gross proceeds of approximately $1,163,407 (the "Offering"), in two separate tranches of approximately 1,187,150 Units each as detailed below. Each warrant will entitle the holder thereof to purchase one (1) additional Common Share at a price of $0.61 any time within 60 months of completion of the Offering.

Proceeds from the Units will be applied toward general corporate and working capital needs of the Company.

Tranche 1 of the Offering is expected to close on or before December 20, 2017 and Tranche 2 of the Offering is expected to close on or before January 12, 2018.

Subscription Agreements for Tranche 1 Units have been executed by Sentient and InCoR. Completion of Tranche 1 is conditional upon no order, ruling or decision being issued or granted by a court or regulatory or administrative authority that has the effect of precluding or restricting the issuance or trading of the Common Shares, or that affects any person or company who engages in such a trade, the receipt of all regulatory approvals including, but not limited to TSX approval and customary conditions for an offering of this type. Completion of Tranche 2 is conditional upon the same conditions as Tranche 1 and negotiating and the execution and delivery of into definitive legal agreements.

Following completion of the Offering Sentient and InCoR will hold approximately 80.5% and 6.5% of the issued and outstanding Common Shares, respectively.

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