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LeadFX completes Sentient's 229,946-unit subscription

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hitpaydirt   Wednesday, 05/09/18 08:21:25 AM
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LeadFX completes Sentient's 229,946-unit subscription

2018-05-08 18:09 ET - News Release

Mr. Andrew Worland reports


LeadFX Inc. 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.

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.

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