Vancouver, April 29, 2021 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) is pleased to announce, further to its news releases dated December 6, 2020 and February 11, 2021, that it has completed the sale (the “Transaction”) to United Lithium Corp. (“ULTH”) of 100% of the issued and outstanding share capital of Bergby Lithium AB (“Bergby”), which holds a 100% interest in the mining licenses comprising the Bergby Lithium project located in central Sweden, 25km north of Gavle (the “Project”).
Pursuant to the Transaction, in consideration for the shares of Bergby, the Company’s wholly owned subsidiary, Tasman Metals AB (“Tasman”) as the owner of the Bergby shares, received from UTLH:
The ULTH Shares will be escrowed and released over a 20-month period. ULTH shall also pay an additional CAD 250,000 in cash on October 29, 2021.
In addition to the foregoing, ULTH has committed to exercise reasonable commercial efforts toward spending CAD 1,000,000 on exploration work on the Project prior to October 29, 2022, and the Company will, at its cost, make available to ULTH the part-time services of its Chief Geologist to provide geological support in exploring the Project until April 29, 2022.
Filip Kozlowski, CEO of Leading Edge Materials states “With the completion of the sale of Bergby we now look forward to follow United Lithium as they further explore this exciting project with us sharing any success as shareholders. On our side we now remain focused on finishing work together with our consultants on the two ongoing preliminary economic assessment projects and will publish results from those as soon as they are finalized. Progressing the Norra Karr HREE and Woxna Graphite projects to the next phase of development is in line with our vision to become a leading European supplier of critical raw materials.”
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Filip Kozlowski, CEO
For further information, please contact the Company at:
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Kärr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
The information was submitted for publication through the agency of the contact person set out above, on April 29, 2021 at 11:30 pm Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North Stockholm under the symbol “LEMSE”. Mangold Fondkommission AB is the Company’s Certified Adviser on Nasdaq First North and may be contacted via email CA@mangold.se or by phone +46 (0) 8 5030 1550.
About United Lithium Corp.
United Lithium Corp. (CSE: ULTH) is an exploration & development company energized by the global demand for lithium. The company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.
This news release may contain statements which constitute “forward-looking information” under applicable Canadian securities laws, including statements regarding 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 information. Investors are cautioned that any such forward-looking information is not a guarantee of future business activities and involves risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking information 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.
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