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LeadFX arranges $2.91-million private placement

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hitpaydirt   Monday, 07/09/18 10:26:47 PM
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LeadFX arranges $2.91-million private placement

2018-07-09 20:30 ET - News Release

Mr. Andrew Worland reports


InCoR Energy Materials Ltd. has signed a term sheet for the issuance of 3,643,008 common shares in LeadFX Inc. at a price of 80 cents per common share.

The placement proceeds of $2,914,406 are expected to be applied toward early engineering works and metallurgical testwork programs for the Paroo Station lead mine, and general corporate and working capital needs of the company. The placement is anticipated to close in two tranches -- 50 per cent of the placement to close after July 13, 2018, but before July 20, 2018, and the remainder to close on or before July 31, 2018.

The placement is subject to: (i) executing definitive documentation; (ii) 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; (iii) the receipt of all regulatory approvals, including, but not limited to, Toronto Stock Exchange approval; and (iv) customary conditions for an offering of this type.

Following the placement, the company's capital structure (excluding "out-of-the-money options" and performance share units) would be as shown in the attached table.

Common shares Placement Common shares Warrants Stage 3 Warrants Fully Interest
at the date common issued after exercised warrants exercisable diluted in fully
hereof shares placement at 61 at $1.75 per equity diluted
cents per common share equity
common share

Sentient 36,609,182 - 36,609,182 - - 114,973 36,724,155 46.3%
InCoR 26,085,728 3,643,008 29,728,736 1,220,747 5,750,000 129,131 36,828,614 46.5%
Other 5,700,056 - 5,700,056 - - - 5,700,056 7.2%
Total 68,394,966 3,643,008 72,037,974 1,220,747 5,750,000 244,104 79,252,825 100.0%

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