TORONTO, July 19, 2018 (GLOBE NEWSWIRE) -- LeadFX Inc. (“LeadFX” or the “Company”): This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the acquisition of securities of the Company by InCoR Energy Materials Limited (the “Acquiror”, together with InCoR Technologies limited “InCoR”).
The Acquiror announces that, on July 18, 2018, LeadFX issued to the Acquiror 1,220,747 Common Shares on exercise by the Acquiror of 1,220,747 Common Share Purchase Warrants (“Warrants”). The Common Shares were acquired at a price of $0.61 per Common Share for gross cash consideration of $744,655.67 (the “Securities”).
Prior to the transaction, InCoR held 26,085,728 common shares representing approximately 38.1% of the issued and outstanding common shares (assuming no exercise of warrants), and warrants to acquire up to 7,099,878 common shares of the Company, which together with the common shares represent approximately 44.0% of the issued and outstanding common shares (assuming full exercise of warrants held by InCoR), expressed on a non-diluted basis.
After giving effect to the acquisition of the Securities under this placement, InCoR owns an aggregate of 27,306,475 common shares of the Issuer representing approximately 39.2% of the outstanding common shares (assuming no exercise of warrants), and warrants to acquire up to an additional 5,879,131 Common Shares.
Assuming the full exercise of the 5,879,131 warrants held by InCoR and no additional issuances of Common Shares, InCoR would own an aggregate of 33,185,606 Common Shares of the Issuer representing approximately 44.0% of the outstanding Common Shares, expressed on a non-diluted basis.
The Securities were acquired by InCoR for investment purposes and InCoR may, depending on market and other conditions, increase or change its beneficial ownership over the common shares or other securities of the Company through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
A copy of the Early Warning Report filed under applicable securities laws is available under the Company’s profile on SEDAR (www.sedar.com). A copy of such report may also be obtained by contacting DS Lawyers Canada LLP, the Acquiror’s Canadian legal counsel, at kwells@dsavocats.ca.
As disclosed on its SEDAR profile, LeadFX’s head office is located at Suite 1D, 21 Teddington Road, Burswood WA 6100, Australia.
The name and address of the “Acquiror” filing the report is:
InCoR Energy Materials Limited
Attn: Jocelyn Bennett
Palladium House
1-4 Argyll Street
London W1F 7LD
United Kingdom
Kyler Wells
kwells@dsavocats.ca
1.647.477.7317