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Leading Edge Materials Closes Private Placement Financing
Leading Edge Materials Closes Private Placement Financing Canada NewsWire VANCOU...
About this update from Leading Edge Materials Corp.
[{"type":"text","content":"\n\n\n\nLeading Edge Materials Closes Private Placement Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 31, 2019\n\n\n\n   /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN LEADING EDGE MATERIALS IN ANY JURISDICTION./\n VANCOUVER, Dec. 31, 2019 /CNW/ - Leading Edge Materials Corp. (\"Leading Edge Materials\" or the \"Company\") (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) is pleased to advise of the closing of the non-brokered private placement financing (the \"Private Placement\") as announced on November 5, 2019 and December 4, 2019.  Pursuant to the Private Placement, the Company has issued 18,000,000 units (the \"Units\") at a price of $0.056 per Unit for aggregate gross proceeds of C$1,008,000. Each Unit consists of one common share and one common share purchase warrant.  Each warrant is exercisable into one common share of the Company at an exercise price of $0.10 until December 30, 2023.  \n\n \n \n\n \nThe Company intends to use the proceeds for the Company's projects, located in Sweden and Romania and for general working capital and corporate purposes.  This may include assessing the next appropriate actions for the Company's wholly-owned Swedish subsidiary, Woxna Graphite AB, as recommended by the internal strategic review (announced May 27, 2019).  No finder's fees or commissions were paid in connection with the Private Placement. \nMr. Eric Krafft, who held 9.98% of the issued and outstanding common shares of the Company prior to the closing of the Private Placement, subscribed for 13,000,000 Units under the Private Placement.  As a result, Mr. Krafft has become a new insider of the Compan...