Advanced Materials closes second and final tranche of private placement
Vancouver, September 26, 2024 “Leading Edge Materials Corp.” (cutting edge materials or company) (TSXV:LEM) (Nasdaq First North: LEMSE) (OTCQB: Remif) completed the second and final tranche of its previously announced private placement on July 15, 2024, issuing 6.71 million common shares at a price of $0.10 per share, for gross proceeds of $670,000. announced the issuance of 1,000 Canadian dollars.
The common stock was issued as part of a unit private placement. Each unit consists of one common share (each one common share) and one common stock purchase warrant (a stock acquisition right) in the capital of the Company. Each stock acquisition rights holder has the right to purchase one common share (a stock acquisition rights share) at a price of CAD 0.20 per stock acquisition right share until the date four years after the date of termination of the private placement (termination date). given.
Leading Edge Materials intends to use the net proceeds for its projects in Sweden and Romania and for general working capital and corporate purposes. A finder’s fee of 6% was paid to an independent third party for some of the private placements. The Private Placement is subject to final approval from the TSX Venture Exchange (the Exchange).
The securities issued pursuant to the second and final tranche of the Private Placement are subject to applicable statutory resale restrictions, including a hold period expiring on January 27, 2025, in accordance with applicable Canadian securities laws. .
The units sold in the private placement were offered in Sweden with an exemption from the prospectus. The minimum underwriting and allocation amount for Swedish and European Economic Area (EEA) investors in the private placement was an amount equal to at least EUR 100,000.
Insiders of the Company purchased a total of 16,500,000 Units in private placements that constituted related party transactions as defined in Multilateral Instrument 61-101, Protection of Minority Securities Holders in Special Transactions (MI 61-101) . Based on the fact that neither the fair market value of the stock acquisition rights subscribed to by insiders nor the consideration paid for the stock acquisition rights by such insiders exceeds the formal valuation of MI 61-101 and relied on an exemption from shareholder approval requirements. 25% of the Company’s market capitalization as determined in accordance with MI 61-101.
The securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and are not offered in the United States or to or for the account or benefit of U.S. persons. or cannot be sold. Lack of registration or applicable exemptions from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. shall not be carried out.
This news release is not a prospectus under Regulation (EU) 2017/1129 (EU Prospectus Regulation). The Company does not authorize any offer of securities to the public (as defined in the EU Prospectus Regulation) in any EEA Member State, nor has any such prospectus been prepared in connection with this Private Placement. It is never created.
On behalf of the Board of Directors,
Leading Edge Materials Co., Ltd.
Kurt Budge, CEO
Please contact us for more information.
778-373-6727
info@leadingedgematerials.com
www.leadingedgematerials.com
About cutting-edge materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw materials projects based in the European Union. Critical raw materials are determined by the European Union based on their economic importance and supply risk. These are directly linked to high-growth technologies such as lithium-ion batteries, permanent magnets for electric motors, and wind power generation that support the transition to social sustainability. The project portfolio includes the 100% owned Woxna Graphite mine (Sweden), the Norra Kärr HREE project (Sweden), the Bergby lithium project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt Exploration Alliance (Romania) will appear.
Additional Information
This information was submitted for publication through the agency of the contact person listed above on September 26, 2024 at 3:00 PM Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol LEM, on the OTCQB under the symbol LEMIF, and on Nasdaq First North Stockholm under the symbol LEMSE. Mangold Fondkommission AB is our authorized advisor on Nasdaq First North and can be contacted by email at CA@mangold.se or by telephone at +46 (0) 8 5030 1550.
Advice to readers
This news release may contain statements that constitute forward-looking information, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors and officers regarding its future business activities. “may,” “will,” “could,” “intend,” “plan,” “anticipate,” “believe,” and “estimate” as they relate to the Company or its management; , “anticipates” and similar expressions are intended to identify such forward-looking statements. Investors are cautioned that such forward-looking statements are not guarantees of future business operations and involve risks and uncertainties, and that our future business operations may be the result of various factors, including: Please note that forward-looking statements may differ materially. including changes in market prices, changes in our use of the proceeds from private placements, the success of our operations, the continued availability of capital and financing, and general economic, market or business conditions. but not limited to. There can be no guarantee that such information is accurate and readers are advised to rely on their own evaluation of such uncertainties. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
- LEM – News release announcing the termination of the final tranche
Source: Leading Edge Materials Corp.
