Leading Edge Materials has closed the first tranche of its previously announced C$6 million private placement, issuing 16.032 million common shares at C$0.25 each for gross proceeds of C$4.008 million. Each share was issued as part of a unit that includes one warrant exercisable at C$0.40 for two years from closing. Cornerstone shareholder Mr Eric Krafft has agreed to subscribe for any units not purchased by other investors. The company plans to use the net proceeds to advance its Norra Kärr heavy rare earth project and Woxna graphite operations in Sweden, support Romanian exploration and fund general working capital and corporate purposes.