07:53 AM EDT, 09/27/2024 (MT Newswires) -- Leading Edge Materials ( LEMIF ) said overnight Thursday that it closed the second and final tranche of its previously announced offering for $671,000 in proceeds.

The company plans to use the proceeds to advance its projects in Sweden and Romania, as well as for general working capital and corporate purposes.

The offering comprised 6,710,000 shares at $0.10 per share. Each unit consists one share and one warrant, with each warrant exercisable at $0.20 per share for four years.

Leading Edge's share price dropped 4.8% yesterday to $0.10 on the TSXV.