- Leading Edge Materials is offering a C$4.5 million non-brokered private placement
- Proceeds will be used to fund the company’s projects in Sweden and Romania
- The company has a 100 per cent stake in its Woxna Graphite Mine and Norra Karr HREE project in Sweden
- European Economic Area investors have a minimum investment €100,000 (C$149,308.72)
Leading Edge Materials (TSXV:LEM) is offering a non-brokered private placement with proceeds up to C$4.5 million.
The Canadian company is focused on developing a portfolio of critical raw material projects in the European Union. Proceeds of the raise will be used for the company’s projects in Sweden and Romania.
Leading Edge has a 100 per cent stake in its Woxna Graphite Mine and Norra Karr HREE project in Sweden as well as a 51 per cent stake in the Bihor Sud Nickel Cobalt exploration alliance in Romania.
As you can hear in the above video interview with The Market Online, CEO Kurt Budge says his focus at the moment includes “getting a mining lease application in by Q1 of next year at the latest.” And he is “looking at ways to accelerate the process.”
Budge is also excited with the European Union’s adoption of the Critical Raw Materials Act.
“Under that policy, we have the opportunity to apply for strategic project status,” he says. “At the moment (we are) making that application.”
He says he believes a decision could come as soon as December and getting a strategic project status will be a “game-changer” giving the company definitive timescales for permitting.
In addition, Budge added that, “the E.U. is proposing that they will assist companies with access to capital and assistance with arranging offtake agreements.”
Budge was appointed CEO in May and strongly feel that the E.U. critical raw minerals act will be “a real driving force for change and support for juniors who are developing projects either that can produce critical raw materials or strategic raw materials for the E.U.”
Critical raw materials are crucial for high growth technologies such as batteries and energy storage and are determined “critical raw materials” by the European Union based on their economic importance and supply risk.
The financing round is directed towards Canadian, Nordic and other international investors, with the minimum investment for European Economic Area investors equivalent to at least €100,000 (C$149,308.72).
For more information on Leading Edge Materials, leadingedgematerials.com.
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