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LEADING EDGE MATERIALS LEADING EDGE MATERIALS CORP . 1305-1090 West Georgia Street , Vancouver , BC , V6E 3V7 T +1 604 685 9316 | www.leadingedgematerials.com TSX.V : LEM | Nasdaq First North : LEMSE | OTCQB : LEMIF NEWS RELEASE January 27 , 2021 LEADING EDGE MATERIALS REPORTS FISCAL 2020 RESULTS Vancouver , January 27 , 2020 - Leading Edge Materials Corp. ( " Leading Edge Materials " or the " Company " ) ( TSXV : LEM ) ( Nasdaq First North : LEMSE ) ( OTCQB : LEMIF ) announces results for the fiscal year ending October 31 , 2020. All references to dollar amounts in this release are in Canadian dollars . Highlights During and After the Quarter During the three months ended October 31 , 2020 the Company : · ■ " " Completed a non - brokered private placement for proceeds of $ 3,520,000 by issuing 32,000,000 units at a price of $ 0.11 per unit . Each unit consists of one common share , and one common share purchase warrant exercisable into one common share at an exercise price of $ 0.20 expiring August 7 , 2024 . Received information that the Bucharest Court of Appeal published a ruling dismissing the appeal against the Agenţia Natională Pentru Resurse Minerale ( " NAMR " ) by the competing bidder for the Bihor Sud Exploration license in Romania as groundless . Pending the full ruling being served to the parties of the appeal and a subsequent appeal window , NAMR can reinstate the adjudication process of the competing bids for the Bihor Sud Exploration license . Granted stock options to directors , officers and consultants to purchase an aggregate of 3,500,000 common shares of the Company at an exercise price of $ 0.155 expiring August 11 , 2023 . Commissioned SRK Consulting ( UK ) Limited to produce a preliminary economic assessment study on the Norra Karr heavy rare earth element project to include the additional potential of by - product revenues and associated reduced environmental footprint . Received information that the decision to grant a five - year extension on the Norra Karr nr 1 exploration license had been appealed to the Lulea Administrative Court . The European Commission announced an Action Plan on critical raw materials aimed to develop resilient value chains for European Union industrial ecosystems , reduce dependency on primary critical raw materials , strengthen domestic sourcing of raw materials in the EU and diversify sourcing from third countries and remove distortions to international trade . The Action Plan included the establishment of a European Raw Materials Alliance to address raw material challenges along industrial ecosystems , provide tailored solutions to industry needs , unlock regulatory bottlenecks and create an investment channel for raw materials projects . The Company has joined ERMA with both the Norra Karr HREE and Woxna Graphite projects . Commissioned Zenito Limited , a UK based engineering consultancy , and a range of sub- consultants to produce a Preliminary Economic Assessment study ( the " PEA " ) on the Woxna Graphite project . The PEA will for the first time include previously developed downstream processes utilizing thermal purification that could enable Woxna Graphite to produce a range of ultra - high purity natural graphite products suitable for the lithium - ion battery market .