Lomiko Metals Announces Closing of the First Tranche of the Hard Dollar Financing

Executive Summary

• Lomiko Metals Inc. is applying to the TSX Venture Exchange to close the first tranche of a hard‑dollar private placement for up to $650,000.
• The company will issue 6,500,000 common shares at $0.10 each plus half‑warrants exercisable in three years at $0.15, subject to a hold period of 4 months + 1 day.
• Proceeds are earmarked for the engineering phase of the La Loutre graphite prefeasibility study, bulk‑sample and anode‑piloting work, and general working capital.

Key Details

• Financing Structure:
• Common Shares: 6,500,000 @ $0.10 per share = $650,000 gross proceeds.
• Warrants: Half‑warrant attached to each share; exercisable after three years at $0.15 per warrant.
• Regulatory Conditions: Completion pending TSXV approval and other required regulatory clearances. All securities subject to a hold period expiring four months and one day from issuance.
• Use of Proceeds:
• Continue engineering work on the La Loutre graphite project prefeasibility study.
• Advance bulk‑sample production and anode‑piloting at La Loutre.
• Provide general working capital for the Company.
• Management Quote: Gordana Slepcev, CEO/President/Director – “We are pleased to close the first tranche of the private placement and deploy the funds raised to develop and engineer La Loutre natural flake graphite project to meet the best industry standards.”
• Related Project Context (non‑material background): The release recaps the May 2023 NI 43‑101 resource update for La Loutre (64.7 Mt Indicated at 4.59% Cg) and mentions other early‑stage Quebec graphite projects, but these are not part of the financing transaction.

Notable Quotes

• “We are pleased to close the first tranche of the private placement and deploy the funds raised to develop and engineer La Loutre natural flake graphite project to meet the best industry standards.” – Gordana Slepcev, CEO & President, Lomiko Metals Inc.