Leading Edge Materials Corp.
TSX VENTURE : LEM
OTCQB : LEMIF

Leading Edge Materials Corp.

May 03, 2017 13:57 ET

Leading Edge Announces Closing of C$2 Million Non-Brokered Private Placement with Strategic European Investors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 3, 2017) -

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.

Leading Edge Materials Corp. ("Leading Edge Materials") or (the "Company") (TSX VENTURE:LEM)(OTCQB:LEMIF) is pleased to announce closing of the private placement offering (the "Offering") that was announced by the Company on April 28, 2017. Under the Offering, the Company issued 3,636,364 units (the "Units") of the Company, at a price of C$0.55 per Unit, for gross proceeds of C$2,000,000. Each Unit consists of one common share (a "Share") of the Company and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one additional Share, at a price of C$0.80 per Share, for a period of three years expiring on May 3, 2020, and can be called by the Company once the common shares trade above a weighted average price of $1.00 per common share for a period of 30 consecutive trading days.

The Company issued 90,000 common share purchase warrants (the "Finder's Warrants") to a finder in connection with certain subscriptions in the Offering. The Finder's Warrants have the same terms as the Warrants.

The securities to be issued pursuant to the Offering are subject to a hold period expiring on September 4, 2017, in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws.

Mr. Blair Way, President and CEO, commented, "We are very pleased to be able to secure this quick financing with this select group of strategic European investors."

The Company intends to use the net proceeds from the Offering to continue to advance the Woxna graphite production facility to meet the demands of the lithium ion battery market and to further exploration activities on other critical materials for the energy storage market and for general corporate requirements. Proceeds from the Offering will allow an accelerated work program during 2017.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. Persons absent registration under the U.S. Securities Act and applicable state securities laws or an applicable exemption from such registration requirements. Proceeds from the Offering will allow an accelerated work program during 2017.

On behalf of the Board,

Blair Way, President & CEO

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information. This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include but are not limited to, the Company's anticipated use of the net proceeds from the Offering, the Company's expectations regarding graphite production at Woxna, the Company's preliminary economic assessment on Woxna is no longer current or valid as a result of the filing of a new NI 43-101 Technical Report effective March 24, 2015, and the Company has no plans to complete a new preliminary economic assessment, a pre-feasibility or feasibility study on the project, as such there is an increased risk of technical and economic failure for the Woxna graphite project; unexpected geological conditions; exploration activities to advance other critical material projects of the Company for energy storage markets, delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although such statements are based on management's reasonable assumptions, there are risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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