LeadFX Announces Closing of Private Placement
(All dollar amounts are in Canadian dollars unless otherwise indicated)
PERTH, Australia, May 17, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) announces it has closed in full the private placement announced April 9, 2018.
InCoR Materials and Energy Ltd ("InCoR") has subscribed today to 258,262 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 Units have been issued to Sentient Global Resources Fund IV, LP ("Sentient") (refer press release dated May 8, 2018) and InCoR at $1.40 per Unit by way of a non-brokered private placement for gross proceeds of approximately $683,491 (the "Offering") as shown in the table below. 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.
| Units | ||
| Common Shares | Warrants | |
| Sentient | 229,946 | 114,973 |
| InCoR | 258,262 | 129,131 |
| Total | 488,208 | 244,104 |
Proceeds from the Units will be applied toward general corporate and working capital needs of the Company.
SOURCE LeadFX Inc.
Contact
please contact: Andrew Worland, Managing Director, President and Chief Executive Officer, LeadFX Inc., 1D, 21 Teddington Street, Burswood, Perth, Western Australia 6100, aworland@leadfxinc.com, Email: info@leadfxinc.com