VANCOUVER, BC, Aug. 6, 2020 /CNW/ - Leading Edge
Materials Corp. ("Leading Edge Materials" or
the "Company") (TSXV: LEM) (Nasdaq First North: LEMSE)
(OTCQB: LEMIF) provides a further update on the tender process for
the Bihor Sud Exploration License in Romania.
As announced on January 29, 2020,
the adjudication of the competitive tender round for the Bihor Sud
Exploration License (the "Exploration License") by the Agenţia
Natională Pentru Resurse Minerale ("NAMR") has been suspended while
the Bucharest Court of Appeal (the
"Court") is judging an appeal against NAMR lodged by the competing
bidder for the exploration license, Global Centurions S.R.L. (the
"Case").
The Company has been informed that the Court published a ruling
today dismissing the Case in full as ungrounded. The Court will now
proceed to serve the parties of the Case with the full ruling upon
which a 15-day appeal window opens. Subject to the ruling not being
appealed, the ruling becomes final and NAMR can reinstate the
adjudication process of the competing bids for the Exploration
License. Leading Edge Materials will advise the market as further
information becomes available.
The Bihor Sud Exploration License application covers 25 square
kilometers in the Northern Apuseni Mountains of Transylvania.
Bihor Sud lies within the Western Tethyan Metallogenic Belt, a
well-mineralized district that includes the Timok copper-gold
project along with the Skouries, Chelopech, Bor and Majdanpek
deposits. The Northern Apuseni Mountains are famous for high
grade skarn and carbonate replacement mineralization with historic
production of Cu, Mo, Ag, Au, Zn, U and Pb associated with Tethyan
Arc intrusions. The area under application includes a
substantial former mine that was closed in 1998.
On behalf of the Board of Directors,
Leading Edge
Materials Corp.
Filip Kozlowski, CEO
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
lithium-ion batteries and permanent magnets for electric motors and
wind power that underpin the sustainability transition of society.
The portfolio of projects includes the 100% owned Woxna Graphite
mine (Sweden), Norra Kärr HREE
project (Sweden), Bergby lithium
project (Sweden) and the 51% owned
Bihor Sud Nickel Cobalt exploration alliance (Romania).
Additional Information
The Company's consolidated financial statements and related
management's discussion and analysis are available on the Company's
website at www.leadingedgematerials.com or under its profile
on SEDAR at www.sedar.com
The information was submitted for publication through the agency
of the contact person set out above, on August 6, 2020, at 2:45
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.
Reader Advisory
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.
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SOURCE Leading Edge Materials