Business
Mr. Eric Krafft Acquires Securities of Leading Edge Materials Corp.
Mr. Eric Krafft Acquires Securities of Leading Edge Materials Corp. Canada NewsWir...
About this update from Leading Edge Materials Corp.
[{"type":"text","content":"\n\n\n\nMr. Eric Krafft Acquires Securities of Leading Edge Materials Corp.\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\nMONACO, Aug. 10, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/\n MONACO, Aug. 10, 2020 /CNW/ - Mr. Eric Krafft announces that, in connection with the closing of the private placement financing announced by Leading Edge Materials Corp. (\"LEM\"), on August 7, 2020, Mr. Krafft, a director of LEM, acquired 24,150,000 Units of LEM (the \"LEM Units\") at an issue price per of C$0.11 per LEM Unit. The LEM Units comprise of one common share (the \"LEM Shares\") and one common share purchase warrant (a \"Warrant Share\"). Each Warrant Share entitles Mr. Krafft to acquire one LEM Share at a price of C$0.20 per Warrant Share until August 7, 2024. The LEM Shares acquired by Mr. Krafft represent approximately 16.49% of the issued and outstanding Common Shares of LEM, on a non-diluted basis. The LEM Units acquired by Mr. Krafft are subject to a voluntary hold period pursuant to which such securities cannot be traded until August 8, 2021.\nPrior to the acquisition of the LEM Units, Mr. Krafft owned and controlled 22,554,404 Common Shares of LEM, representing approximately 19.70% of the then issued and outstanding Common Shares of LEM and 15,500,000 Warrants. Assuming exercise of the Warrants held by Mr. Krafft only, Mr. Krafft would have control or direction over 38,054,404 Common Shares or 29.28% of the then issued and outstanding Common Shares of LEM.\nImmediately after the acquisition of the LEM Shares, Mr. Eric Krafft owns and controls 46,704,404 Common Shares of LEM, representing approximately 31.89% of the issued and outstanding Common Shares of LEM and 39,650,000 Warrants. Assuming exercise of the Warrants by Mr. Krafft only, Mr. Krafft would have control or direction over 86,354,404 representing ...