Lomiko Metals Announces Opening of Flow-Through Financing

The most recent news (December 18, 2025) announces a non-brokered flow-through private placement to raise up to $300,000 through the issuance of 2,500,000 shares at $0.12 per share. The proceeds are earmarked for strategic initiatives at the La Loutre graphite project—specifically the bulk sample processing and anode piloting—as well as exploration at the Yellow Fox antimony-gold project in Newfoundland. This follows a corporate update confirming that processing of the 200-tonne bulk sample at Corem Research Center is scheduled to begin in January 2026.

• The $300,000 raise is relatively small compared to the requirements of a Pre-Feasibility Study (PFS) and a 200-tonne bulk sample program, suggesting a hand-to-mouth financing strategy.
• The financing price of $0.12 is at a 20% premium to the recent trading price of $0.10, which is typical for flow-through shares in Canada due to tax incentives but reflects limited appetite for "hard dollar" investment at higher valuations.
• Materiality is tempered by the November 7, 2024 disclosure that the company lost $500,000 (over 60% of a previous $845,000 raise) to a "social engineering incident." This loss significantly weakened the balance sheet and necessitated these frequent, smaller raises.
• The move to start processing the bulk sample in January 2026 is a positive operational milestone, but the company remains high-risk due to its tight capital position and the significant dilution occurring at low share prices.

Lomiko Metals is focused on the La Loutre graphite project in Southern Quebec. - Flagship: La Loutre holds an Indicated Mineral Resource of 64.7 million tonnes at 4.59% Cg (3.0 million tonnes of contained graphite). - Stage: Transitioning from Mineral Resource Estimate (MRE) to Pre-Feasibility Study (PFS). - Secondary Focus: Yellow Fox project in Newfoundland, targeting antimony, a critical mineral currently facing supply constraints due to Chinese export bans.