Leading Edge Materials (TSX.V: LEM, Nasdaq First North: LEMSE, OTCQB: LEMIF) is a Canadian public company focused on production of high value critical raw materials for the European market, with an operating base in the Nordic region, a region well recognized for its promotion and investment in innovation. LEM’s flagship asset is the Woxna Graphite production facility located in Central Sweden targeting the supply of specialty materials for lithium ion battery production.
LEM’s assets and research focus are towards the raw materials for Li-ion batteries (graphite, lithium, cobalt); materials for high thermal efficiency building products (graphite, silica, nepheline); and materials that improve the efficiency of energy generation (dysprosium, neodymium, hafnium). Investments are linked to the global shift to low-carbon energy generation and energy storage. Leading Edge Materials currently operate in four divisions, Graphite, Lithium, Rare Earth and Cobalt.
Leadng Edge Materials are pleased to announce that theyt intends to complete a non-brokered private placement of up to 5,714,285 units (“ Units“) at a price of $0.35 per Unit for aggregate gross proceeds of up to approximately $2,000,000 (the “Private Placement“).
The Company intends to use the proceeds from the Private Placement for corporate development and general working capital purposes. Closing of the Private Placement is expected to occur on or about October 31, 2018 (the “Closing Date“) but is at the discretion of the Company. The Company will announce the outcome of the Private Placement after closing in a subsequent press release.
Each Unit will consist of one (1) common share (each, a “Common Share“) in the capital of the Company and one (1) common share purchase warrant (a “Warrant“). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.50 per Common Share until the date which is three (3) years from the Closing Date.
The offering is directed towards Canadian, Nordic and other international investors. Pricing was determined by the board based on the closing price for the Common Shares on the date prior to announcement of the Private Placement and in compliance with regulatory policies. All securities issued under the Private Placement, including securities issuable on exercise of the common share purchase warrants, will be delivered from Canada and are subject to a hold period expiring four months and one day from the Closing Date. The minimum investment amount for European Economic Area (“EEA”) investors in the Private Placement will be an amount equivalent to at least EUR 100,000.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
Taken from an original news release from Leading Edge Materials. Responsibility for the information published remains with the original authors