TORONTO, ON–(Marketwired – November 20, 2015) – LeadFX Inc. (the “Company” or “LeadFX“) (TSX: LFX) is pleased to announce that Sprott Resources Lending Partnership (“Sprott”) has agreed to extend the period of forbearance under its secured credit facility with the Company (the “Sprott Facility”) to December 15, 2015 while management works through a close out solution. All other terms and conditions of the forbearance agreement remain the same.
Additional information on LeadFX, the Sprott Facility and forbearance agreement can be found in the Company’s continuous disclosure documents on SEDAR at www.sedar.com and the Company’s website at www.leadfxinc.com
LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah, USA. The Company is developing opportunities at its new properties in North America to underpin future cash flow and growth. LeadFX trades under the symbol “LFX” on the Toronto Stock Exchange.
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Examples of forward-looking information in this news release includes but is not limited to statements and information concerning: the Company’s ability to meet its working capital needs and debt repayments in the near term, projections with respect to cash flows and working capital, forbearance by our primary lender pursuant to the forbearance agreement, statements relating to the business and future activities of, and developments related to and of LeadFX after the closing of the Geo Zone acquisition, including the development of lead and silver assets; the market position and future financial or operating performance of LeadFX; and the ability of the Company to make additional acquisitions of mineral properties or develop silver assets; business strategies and measures to implement such strategies; to implement such strategies, competitive strengths, estimated goals and plans for Ivernia’s future business operations, lead market outlook and other such matters. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or states that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based on expectations, estimates and projections as at the date of this news release and are subject to a number of risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Additional factors and considerations are discussed in the annual information form dated March 10, 2015, management information circular September 14, 2015 and elsewhere in other documents filed from time to time by LeadFX with Canadian securities regulatory authorities.
For further information please contact:
VP, Corporate Communications
Suite 3001, 1 Adelaide Street East
Toronto, Ontario M5C 2V9
(416) 867 9298
Email: [email protected]