Lomiko Metals Announces Private Placement
NOT FOR DISTRIBUTION TO
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up to 4,444,444 units of the Company (each, a “Unit”) at a price of
C$0.135 per Unit for gross proceeds of up toC$600,000 from the sale of Units. Each Unit will consist of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (each, a “Warrant”) exercisable for three years at$0.20 . -
up to 2,352,941 flow-through units of the Company (the “FT Units”, and collectively with the Units, the “Offered Securities”) at a price of
C$0.17 per FT Unit for gross proceeds of up toC$400,000 from the sale of FT Units. Each FT Unit will consist of one Common Share to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada ) (the “Income Tax Act”) (each, a “FT Share”) and one half of one Warrant. Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price ofC$0.20 for a period of two (2) years.
The Company intends to use the proceeds of the Offering to start the engineering phase of the pre-feasibility study of the La Loutre graphite project, progressing with the bulk sample and anode piloting at the La Loutre project, explore the Company’s
The gross proceeds from the issuance of FT Shares will be used to incur resource exploration expenses, which will constitute “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow-through critical mineral mining expenditures” as defined in subsection 127(9) of the Income Tax Act (the “Qualifying Expenditures”), which will be incurred on or before
A finder’s fee may be payable pursuant to the policies of the
The closing of the Offering is subject to receipt of all necessary regulatory approvals including the Exchange.
About
The Company holds mineral interests in its La Loutre graphite development in southern
The Property is underlain by rocks from the
The Company also holds interest in seven early-stage projects in southern
The stage graphite portfolio consists of 328 claims in total on 7 early-stage projects covering 18,622 hectares in southern
- Ruisseau–grades up to 27.9 percent carbon graphite (“% Cg”) from four distinct high grade mineralized zones that are over 3km long;
- Meloche –grades up to 13.3% Cg from two distinct mineralized clusters;
- Tremblant –grades up to 11.6% Cg from numerous, widespread spot anomalies; and
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Dieppe –grades up to 6.82% Cg from numerous, widespread spot anomalies and a distinct mineralized cluster. - Boyd–8 samples grades range from 5.61%Cgto 17.10 %Cg with all samples above 5.00% Cg
In addition to La Loutre, Lomiko has earned-in its 49% stake in the
The Yellow Fox Property is located approximately 10 km southwest of the
This property is on the same trend as the past-producing antimony mine
On behalf of the Board,
Gordana Slepcev
CEO & President and Director,
For more information on
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" (“FLI”). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", “proposes”, "potential", "target", "implement", “scheduled”, "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the total gross proceeds of the Offering, the use of proceeds of the Offering, the timing and successful completion of the Offering; the Company’s ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets);, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially.
The FLI in this news release reflects the Company’s current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: the Company’s, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company’s competitive position in the industry, and general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the “Forward-Looking Statements” section contained in the Company’s most recent management’s discussion and analysis (MD&A), which is available on SEDAR+ at www.sedarplus.ca. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such forward-looking information. The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Neither the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250402216285/en/
Contact us at 1-833-4-LOMIKO or e-mail: info@lomiko.com.
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