Leading Edge Materials closes exploration alliance in Romania

2 minute read
09 August 2018

On Aug. 9, 2018, Leading Edge Materials Corp. (TSXV: LEM) (OTCQB: LEMIF) (Nasdaq First North: LEMSE) completed its previously announced acquisition of an initial 51% interest (with the right to acquire an additional 39% interest) in a Romanian incorporated company (the "Joint Venture Company") that holds a prospecting permit in Romania, co-owned by Remat Group Limited.

In connection with the acquisition of the initial interest, Leading Edge issued 367,006 of its common shares to Remat. Leading Edge, Remat and the Joint Venture Company have entered into a shareholder joint venture agreement to govern the affairs of the Joint Venture Company. 

Leading Edge is focused on production of high value critical raw materials for the European market, with an operating base in the Nordic region. The company's flagship asset is the Woxna graphite production facility in Sweden targeting the supply of specialty materials for lithium ion battery production.

Gowling WLG was counsel to Leading Edge with respect to the creation of this joint venture with a team led by Cyndi Laval.

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