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Leading Edge Materials Closes First Tranche of Common Share Private Placement for C$4 Million

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Leading Edge Materials (LEM.V) has closed a first tranche of a private placement of common shares, raising gross proceeds of about C$4 million, the company said Tuesday.

The company issued about 16 million common shares at a price of C$0.25 per share. The shares were issued as part of a unit private placement.

Net proceeds will be used for projects in Sweden and Romania, particularly for the Norra Karr Heavy Rare Earth Elements Project and a possible restart of the Woxna Graphite mine and processing plant, and for general working capital and corporate purposes.

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