Vancouver, Canada, January 7, 2019 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (OTCQB: LEMIF) (Nasdaq First North: LEMSE) is pleased to announce the commencement of a formal internal corporate strategic review (the “Strategic Review”), led by Chairman of the Company Mr. Michael Hudson and Mr. Filip Kozlowski, an independent director of the Company.
The Board of Directors of the Company (the “Board”) has received feedback from shareholders that the current trading price of its common shares does not adequately reflect the underlying value of the Company and its portfolio of individual assets. The Board shares this view and has initiated a Strategic Review to identify, examine and consider all potential opportunities towards enhancing shareholder value and enable Leading Edge Materials to accelerate customer engagement in the rapidly developing European battery materials industry.
Potential recommendations from the Strategic Review may include, but are not limited to, a sale, joint venture or spin-out of any of the Company’s individual assets and/or a change in the Company’s management structure. While there is no fixed timeline for the Strategic Review, the Company will disclose developments with respect to the review process if a potential transaction is identified and/or further disclosure is required. The Board cautions that there is no assurance or guarantee that any potential transaction identified by the Strategic Review will be pursued.
Leading Edge Materials key assets presently include the fully built and permitted Woxna graphite mine in Sweden, and the Bihor Sud cobalt-copper-nickel project in Romania, both of which are high merit and unique projects within the European raw material sector.
Mr. Michael Hudson, Chairman of the Company stated, “The Board is keen to investigate strategies that will maximize value for Leading Edge Materials and its shareholders. Meanwhile, we continue to execute on our mandate to position Leading Edge Materials as a key player in the growing market for sustainably sourced strategic and critical raw materials, enabling a new energy paradigm for current and future generations.”
On behalf of the Board of Directors, Leading Edge Materials Corp.
Mr. Michael Hudson, Chairman
For further information, please contact the Company at:
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on production of high value critical raw materials for the European market, with an operating base in the Nordic region, a region well recognized for its promotion and investment in innovation. LEM’s flagship asset is the Woxna Graphite production facility located in central Sweden targeting the supply of specialty materials for lithium ion battery production. LEM’s assets and research focus are towards the raw materials for Li-ion batteries (graphite, lithium, cobalt); materials for high thermal efficiency building products (graphite, silica, nepheline); and materials that improve the efficiency of energy generation (dysprosium, neodymium, hafnium). Investments are linked to the global shift to low-carbon energy generation and energy storage. Leading Edge Materials currently operate in four divisions, Graphite, Lithium, Rare Earth and Cobalt. Mangold Fondkommission AB is the company’s Certified Adviser (“CA”) as part of the listing requirements for Nasdaq First North.
Leading Edge Materials is listed on the TSXV under the symbol “LEM” and Nasdaq First North Stockholm under the symbol “LEMSE”. Mangold Fondkommission AB is the Company’s CA on Nasdaq First North and may be contacted via email CA@mangold.se or by phone +46 (0) 8 5030 1550.
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.