Business
Leading Edge Materials Finalizes Strategic Review and Updates Execution Path for Woxna Graphite Mine
Leading Edge Materials Finalizes Strategic Review and Updates Execution Path for Woxna Gra...
About this update from Leading Edge Materials Corp.
[{"type":"text","content":"\n\n\n\nLeading Edge Materials Finalizes Strategic Review and Updates Execution Path for Woxna Graphite Mine\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 27, 2019\n\n\n\nVANCOUVER, May 27, 2019 /CNW/ - Leading Edge Materials Corp. (\"Leading Edge Materials\" or the \"Company\") (TSXV: LEM) (OTCQB: LEMIF) (Nasdaq First North: LEMSE) is pleased to announce completion of the internal corporate strategic review (the \"Strategic Review\") announced 7th January 2019, and updated 4th March 2019.  The review was led by Company Chairman Mr. Michael Hudson and Mr. Filip Kozlowski, an independent Director.  \n\n \n \n\n \nFollowing the recommendation of the Strategic Review, the Board has resolved to initiate the transition of its Swedish subsidiary Woxna Graphite AB into a freestanding company.  It is expected that the freestanding structure will enable Woxna Graphite AB to execute more effectively upon a high value graphite materials business plan by undertaking strategic financings independent of Leading Edge Materials, and allowing the local team to be expanded with an increased focus on customer and stakeholder relationships.  Furthermore, it is anticipated that Woxna Graphite AB will be in a stronger position to benefit from Swedish and European public funding opportunities that are developing in the battery materials sector.\nBased on the findings of the Strategic Review, the Board is of the view that the proposed strategy will be the least dilutive to existing Leading Edge Materials shareholders, while enabling the Woxna graphite project to access the funding necessary to further develop the materials, technology and corporate profile required to become a leading European supplier of high value graphite products.  With more secure funding, the fully built Woxna graphite mine will maintain its early mover status in the European natural graphite market, and be best positioned to gain off take agreements for battery anode materials through installation and operation of the proposed battery anode demonstrat...