/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
MONACO, Aug. 10, 2020 /CNW/ - Mr. Eric
Krafft announces that, in connection with the closing of the
private placement financing announced by Leading Edge Materials
Corp. ("LEM"), on August 7,
2020, Mr. Krafft, a director of LEM, acquired 24,150,000
Units of LEM (the "LEM Units") at an issue price per
of C$0.11 per LEM Unit. The LEM Units comprise of
one common share (the "LEM Shares") and one common share
purchase warrant (a "Warrant Share"). Each Warrant Share
entitles Mr. Krafft to acquire one LEM Share at a price
of C$0.20 per Warrant Share until August 7, 2024.
The LEM Shares acquired by Mr. Krafft represent approximately
16.49% of the issued and outstanding Common Shares of LEM, on a
non-diluted basis. The LEM Units acquired by Mr. Krafft are subject
to a voluntary hold period pursuant to which such securities cannot
be traded until August 8, 2021.
Prior to the acquisition of the LEM Units, Mr. Krafft owned and
controlled 22,554,404 Common Shares of LEM, representing
approximately 19.70% of the then issued and outstanding Common
Shares of LEM and 15,500,000 Warrants. Assuming exercise of
the Warrants held by Mr. Krafft only, Mr. Krafft would have control
or direction over 38,054,404 Common Shares or 29.28% of the then
issued and outstanding Common Shares of LEM.
Immediately after the acquisition of the LEM Shares,
Mr. Eric Krafft owns and controls 46,704,404 Common
Shares of LEM, representing approximately 31.89% of the issued and
outstanding Common Shares of LEM and 39,650,000 Warrants. Assuming
exercise of the Warrants by Mr. Krafft only, Mr. Krafft would have
control or direction over 86,354,404 representing 48.38% of the
issued and outstanding common shares of the Company.
Eric Krafft has acquired the LEM
Shares for investment purposes and has a long-term view of his
investment. In the future, Mr. Krafft may take such actions in
respect of his investment in the Company as he may deem
appropriate, depending on the market conditions and circumstances
at that time.
The Early Warning Report will be filed with the applicable
securities commissions via SEDAR and will be available for viewing
on LEM's profile at www.sedar.com
This press release is not an offer or a solicitation of an
offer of securities for sale in the
United States. The securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold in the United States or to U.S. Persons
absent registration under the U.S. Securities Act and applicable
state securities laws or an applicable exemption from such
registration requirements.
SOURCE Mr. Eric Krafft
