LeadFX Private Placement Offering

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(All dollar amounts are in Canadian dollars unless otherwise indicated)

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.

About LeadFX

LeadFX is a Toronto Stock Exchange listed (TSX: LFX), 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 Paroo Station lead mine is located 30km west of the town of Wiluna in Western Australia (refer Figure 1). The Company also owns an 83.5% interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles south-east of Salt Lake City, Utah and exploration interests in the Amber Mineral belt in Alaska.

The Paroo Station lead mine has been on care and maintenance since January 2015 (refer Figure 2). A dedicated staff of plant operators and technicians have undertaken consistent structural and integrity checks of plant and equipment, run mills at regular intervals and maintained the flotation tanks to ensure the plant can be re-started and brought back to pre-closure production levels as expected within months.

We refer readers to the Company's Annual Information Form dated February 23, 2017 as filed on SEDAR (www.sedar.com) and the Company's website www.leadfxinc.com for details of historical production performance for the Paroo Station mine and the NI43-101 Technical Report on the Paroo Station Lead Carbonate Mine, Wiluna, Western Australia dated March 10, 2015 for prepared by SRK Consulting (Australasia) Pty Ltd for details on Mineral Resources.

Forward-Looking Statements

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws.  Examples of forward-looking information in this news release includes but is not limited to statements and information concerning timing of the closing of the Offering, receipt of regulatory approval to close the Offering, the share ownership by each of Sentient and InCor in LeadFX upon completion of the Offering, the timing and length of care and maintenance at Paroo Station and the timing of the re-start of the Paroo Station and when pre-closure production levels will be achieved.  Forward-looking statements are often, but not always, identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'', ''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could'' or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based on expectations, estimates and projections as at the date of this news release and are subject to a number of risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

SOURCE LeadFX Inc.