TORONTO
, ON
--(Marketwired -
April 22, 2016
) -
Lead
FX
Inc. (the "Company" or "Lead
FX
")
(TSX: LFX)
today announced that it has executed an unsecured promissory grid note (the "Note") in favour of
Sentient Global Resource Fund IV, LP
("Sentient"). Pursuant to the Note, Sentient has agreed to lend the Company up to
US$2,500,000
without interest with the principal repayable on
June 30, 2017
.
The Note will allow the Company greater financial flexibility to maintain restart readiness over the coming months while it reviews the conditions for a restart of the
Paroo Station
mine. Those conditions include a sustained improvement in LME lead prices supported by positive market fundamentals, favourable foreign exchange rates and treatment charges as well as identification of additional sources of funding.
The Sentient Group of Global Resource Funds
are the majority shareholder of Lead
FX
. Additional information on Lead
FX
is available on SEDAR at
www.sedar.com
and the Company's website at
www.leadfxinc.com
About Lead
FX
Lead
FX
is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in
Western Australia
and a development project in
Utah, USA
. The Company is developing opportunities at its new properties in
North America
to underpin future cash flow and growth. Lead
FX
trades under the symbol "LFX" on the
Toronto Stock Exchange
.
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 includes but is not limited to statements and information concerning the intended use of proceeds of the Note, the potential restart of the
Paroo Station Mine
and final
Toronto Stock Exchange
approval of the Note. 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.
