/EINPresswire.com/ -- TORONTO, ON--(Marketwired - March 16, 2016) -  Enirgi Group Corporation ("Enirgi Group") and Sentient Executive GP III, Limited ("Sentient III") jointly announce that, in connection with the approval of a reduction in stated capital by the shareholders of Enirgi Group, Enirgi Group will be making a distribution in-kind to its shareholders (the "Distribution"), comprising of the 32,553,847 common shares of LeadFX Inc. ("LeadFX") currently held by Enirgi Group, which represents approximately 85.1% of the presently issued and outstanding common shares of LeadFX (on a non-fully diluted basis). The Distribution is scheduled to occur on or about March 24, 2016.

As a result of the Distribution Sentient III will acquire control over 13,785,629 common shares of LeadFX, which represents approximately 36.0% of the presently issued and outstanding common shares of LeadFX (on a non-fully diluted basis).

Under applicable Canadian securities legislation, each of Sentient Executive GP I, Limited ("Sentient I"), Sentient (Aust.) Pty. Limited ("Sentient Trust I"), Sentient Executive GP II, Limited ("Sentient II"), Sentient Trustees PTC Limited ("Sentient Trust II") and Sentient Executive GP IV, Limited ("Sentient IV" and, together with Sentient I, Sentient Trust I, Sentient II, Sentient Trust II and Sentient III, collectively, "Sentient"), all related entities of Sentient III, may be considered as acting jointly and in concert with Sentient III. As a result of the Distribution (i) Sentient I will acquire control over 3,942,955 common shares of LeadFX; (ii) Sentient Trust I will acquire control over 866,121 common shares of LeadFX; (iii) Sentient II will acquire control over 2,416,690 common shares of LeadFX; (iv) Sentient Trust II will acquire control over 136,152 common shares of LeadFX; and (v) Sentient IV will acquire control over 11,406,300 common shares of LeadFX, which represents, respectively, approximately 10.3%, 2.3%, 6.3%, 0.4% and 29.8% of the presently issued and outstanding common shares of LeadFX (on a non-fully diluted basis).

As a result of the Distribution Sentient will acquire control over an aggregate of 32,553,847 common shares of LeadFX, which represents approximately 85.1% of the presently issued and outstanding common shares of LeadFX (on a non-fully diluted basis).

Following the Distribution, Enirgi Group will own no issued and outstanding common shares of LeadFX.

Sentient will acquire the common shares of LeadFX for investment purposes, and may acquire further common shares of LeadFX, or dispose of its holdings of common shares of LeadFX, both as investment conditions warrant.

The common shares of LeadFX are listed on the Toronto Stock Exchange under the trading symbol "LFX".

The Distribution is to occur in reliance upon the exemptions set forth in section 2.8 of National Instrument 45-102 - Resale of Securities and section 2.31(2) of National Instrument 45-106 - Prospectus Exemptions and will not occur through the facilities of any stock exchange or any other marketplace.

This press release has been issued by Enirgi Group and Sentient in order to comply with applicable Canadian securities legislation.

About Enirgi Group

Enirgi Group is a private diversified industrial and chemical company located at 1 Adelaide St. E., Toronto, Ontario, which currently owns 85.1% of the outstanding common shares of LeadFX. LeadFX and its wholly-owned subsidiary, Rosslyn Hill Mining Pty Ltd, have each operated under a management services agreement with Enirgi Group and Enirgi Metal Group Pty Ltd., respectively, since December 2012.

For further information, including a copy of the early warning report required under applicable Canadian securities laws to be filed by each of Sentient and Enirgi Group as a result of the transaction referred to in this press release, please contact Sue Bjuro at (345) 946-0933 for inquiries related to Sentient and Jessica Helm at (416) 365-2783 for inquiries related to Enirgi Group.

Sentient Executive GP III, Limited
Sue Bjuro
(345) 946-0933

Enirgi Group Corporation 
Jessica Helm
(416) 365-2783

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