LeadFX closes final tranche of $1.16M private placement
2018-01-12 14:44 ET - News Release
Mr. Andrew Worland reports
LEADFX CLOSES TRANCHE 2 OF PRIVATE PLACEMENT
LeadFX Inc. has closed the second of two tranches of its non-brokered private placement for the issue of up to 2,374,301 units, each unit comprising one common share of the company and one common share purchase warrant for each one common share issued.
Sentient Global Resources Fund IV LP has purchased 576,777 units and InCoR Energy Metals Ltd. has purchased 610,374 units in this second tranche.
The units are being issued at 49 cents per unit for gross proceeds of $1,163,407. Each warrant entitles the holder thereof to purchase one additional common share at a price of 61 cents any time within 60 months of completion of the applicable tranche of the offering.
The common shares sold are subject to a four-month hold period under applicable Canadian securities laws.
Proceeds from the offering will be used for general corporate and working capital purposes.
At the completion of this tranche of the offering, Sentient and InCoR will own 80.5 per cent and 6.5 per cent respectively of the issued and outstanding common shares of LeadFX.
About LeadFX Inc.
LeadFX is a Toronto Stock Exchange-listed, Australian-based mining company focused on the development of its lead and lead-silver projects located in Australia and North America. The company's primary undertaking is the Paroo Station lead mine. The company also owns an 83.5-per-cent interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles southeast of Salt Lake City, Utah, and exploration interests in the Amber mineral belt in Alaska.
