LeadFX Announces Part Closing of Private Placement


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

PERTH, Australia, May 8, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) announces it has closed in part the private placement announced April 9, 2018.

LeadFX Inc. (CNW Group/LeadFX Inc.)

Sentient Global Resources Fund IV, LP ("Sentient") has subscribed to 229,946 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").

The Company has today closed Sentient's contribution. InCoR Energy Metals Limited's ("InCoR") subscription to 258,262 Units is expected to close in the coming days. The Units have been issued to Sentient, and will be issued to InCoR, at $1.40 per Unit by way of a 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 their respective closing dates of the Offering.


Common Shares












Proceeds from the Units will be applied toward general corporate and working capital needs of the Company.

Annual General Meeting

The Company's Annual and Special Meeting of shareholders is scheduled for May 15, 2018. It has come to the attention of the Company that the Management Information Circular dated April 12, 2018 incorrectly specified the record date as April 12, 2018. The correct record date is April 10, 2018 and shareholders of record as at 5:00pm (Toronto time) on April 10, 2018 will be entitled to vote.

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 following: 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.


Andrew Worland, Managing Director, President and Chief Executive Officer, LeadFX Inc., 1D, 21 Teddington Street, Burswood, Perth, Western Australia 6100, aworland@leadfxinc.com, Email: info@leadfxinc.com