Lomiko Metals arranges $800,000 private placement

Executive Summary

• Lomiko Metals Inc. announced a private‑placement financing of up to $800,000 through the issuance of 8 million units at $0.10 per unit.
• Each unit consists of one common share and one‑half of a common‑share purchase warrant (exercisable for three years at $0.15).
• Proceeds will fund continued prefeasibility engineering studies, baseline data collection, bulk sampling, anode piloting at the La Loutre graphite project, and general working capital.

Key Details

• Units Offered: 8,000,000 units @ $0.10 each → aggregate gross proceeds up to $800,000.
• Unit Composition: 1 common share + ½ common‑share purchase warrant (exercise price $0.15, term 3 years).
• Use of Proceeds:
• Continue prefeasibility‑level engineering studies for the La Loutre natural flake graphite deposit.
• Support baseline data collection, bulk sample preparation, and anode piloting at La Loutre.
• General working capital.
• Hold Period: Securities subject to a hold period of four months and one day from issuance.
• Regulatory Conditions: Completion pending receipt of all required regulatory approvals, including TSX Venture Exchange approval.
• Board Discretion: Funds may be re‑allocated at the board’s discretion for sound business reasons.
• Company Statement: No undisclosed material fact or change exists beyond what is generally disclosed.

Notable Quotes

“The proceeds of the private placement will be used to continue the prefeasibility level of the engineering studies for the La Loutre natural flake graphite deposit… and general working capital purposes.” – Gordana Slepcev, CEO, President & Director

Materiality Assessment: Material – Positive (the financing provides significant capital to advance a key project and supports ongoing operations).