LeadFX announces private placement offering

(All dollar amounts are in Canadian dollars unless otherwise indicated)

PERTH, AUSTRALIA, April 9, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) announces it has entered into a binding term sheet and subscription agreements with Sentient Global Resources Fund IV, LP ("Sentient") and InCoR Energy Metals Ltd. ("InCoR") for the issue of 488,208 units of the Company each unit being comprised of one (1) common share of the Company ("Common Share") and one half Common Share purchase warrant ("Warrant") for each one (1) Common Share issued (hereinafter, a "Unit").

Subject to Toronto Stock Exchange approval, the Units shall be issued at $1.40 per Unit by way of non-brokered private placement for gross proceeds of approximately $683,491 (the "Offering"). Each whole warrant will entitle the holder thereof to purchase one (1) additional Common Share at a price of $1.75 for a period of 60 months from the closing date of the Offering. 

Proceeds from the Units will be applied toward general corporate and working capital needs of the Company. The Offering is expected to close by April 13, 2018.

The Company's capital structure at the completion of the Offering is expected to be as follows, not including out of the money options:

Forward looking statements

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Examples of forward-looking information in this news release include but are not limited to statements and information concerning the following: Toronto Stock Exchange approval of the Offering, the expected capital structure of the Company upon completion of the Offering and timing of closing of the Offering. Forward-looking statements are often, but not always, identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'', ''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could'' or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based on expectations, estimates and projections as at the date of this news release and are subject to a number of risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

SOURCE LeadFX Inc.