Leading Edge Materials Corp. (TSX-V: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) is pleased to announce that it has closed its previously announced non-brokered private placement, pursuant to which it has issued an aggregate of 6,027,855 units at a price of $0.28 per Unit for gross proceeds of approximately $1,687,799.40. Each Unit was comprised of one common share of the Company and one common share purchase warrant, with each warrant exercisable into one Common Share of the Company at a price of $0.37 until November 21, 2021.

In connection with the Offering, the Company paid a total of $6,384 in cash to eligible finders who introduced subscribers to the Offering.

All securities issued under the Offering, including securities issuable on exercise of the Warrants, were delivered from Canada and are subject to a hold period expiring March 22, 2019. The minimum investment for European Economic Area investors in the Offering was an amount equivalent to at least EUR 100,000.  

Mr. Blair Way, President and CEO, commented, “We are pleased to have met our objectives for this financing given the current market conditions.”

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, to further exploration activities on other critical materials for the energy storage market and for general working capital purposes. 

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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption 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 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.

About Leading Edge Materials

Leading Edge Materials is a Canadian public company focused on production of high value critical raw materials for the European market, with an operating base in the Nordic region, a region well recognized for its promotion and investment in innovation. LEM’s flagship asset is the Woxna Graphite production facility located in central Sweden targeting the supply of specialty materials for lithium ion battery production. LEM’s assets and research focus are towards the raw materials for Li-ion batteries (graphite, lithium, cobalt); materials for high thermal efficiency building products (graphite, silica, nepheline); and materials that improve the efficiency of energy generation (dysprosium, neodymium, hafnium). Investments are linked to the global shift to low-carbon energy generation and energy storage. Leading Edge Materials currently operate in four divisions, Graphite, Lithium, Rare Earth and Cobalt.   Mangold Fondkommission AB is the company’s Certified Adviser (“CA“) as part of the listing requirements for Nasdaq First North.