LeadFX announces private placement

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

PERTH, Australia, July 9, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) is pleased to announce InCoR Energy Materials Ltd ("InCoR") has signed a Term Sheet for the issuance of 3,643,008 common shares in the Company ("Common Shares") at a price of $0.80 per Common Share ("Placement").

The Placement proceeds of $2,914,406 are expected to be applied toward early engineering works, and metallurgical test work 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% of the Placement to close after July 13, 2018 but before July 20, 2018 and the remainder to close on or before 31 July 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 TSX 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 follows:

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 the expected use of proceeds, expected time of closing the tranches of the Placement and the capital structure of the Company following the Placement. 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. 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.