Lomiko Metals Receives Final Order Approving Arrangement With Global Battery Materials
Global Battery Materials acquires Lomiko for $0.13 cash following a final court order.
Lomiko Metals Inc. has received the final court order from the Supreme Court of British Columbia approving its previously announced plan of arrangement with Global Battery Materials Corp. (GBM). The transaction remains subject to customary closing conditions, primarily the receipt of TSX Venture Exchange approval. Completion is anticipated in October 2026, pending satisfaction or waiver of all conditions. The deal values Lomiko shares at $0.13 per share in an all-cash transaction.
Lomiko Metals Inc. (LMR) has received a final court order, a critical procedural milestone that removes a major regulatory hurdle and paves the way for closing in October 2026. The transaction involves a $0.13 per share cash offer, representing approximately a 71% premium to the 20-day volume-weighted average price at the time of the initial announcement. This structure provides immediate liquidity to shareholders, effectively eliminating project execution and financing risks.
Although the development is positive, the market has already priced in the acquisition since the definitive agreement was announced in July 2026. The stock has traded tightly around $0.12, reflecting the deal price, indicating that the news serves as a procedural confirmation rather than a new valuation driver. There is no change to the fundamental thesis, as shareholders are locked into the $0.13 exit price, with the stock expected to converge to the offer price upon closing.
Lomiko Metals Inc. (LMR) is a critical minerals explorer and developer focused on graphite and antimony in Quebec and Newfoundland. Its flagship asset is the La Loutre Graphite Project in southern Quebec, for which a pre-feasibility study has been completed. The study outlines a 28-year mine life with a pre-tax net present value of $797.5 million, an after-tax net present value of $617.4 million, and an internal rate of return of 24.7%.
The company also holds early-stage graphite projects in Laurentides and the Yellow Fox REE/Antimony property in Newfoundland. Additionally, Lomiko is engaged in anode material testing for downstream value-add.