Lomiko Metals Inc. Announces $400,000 Flow-Through Private Placement Financing
NEWS RELEASE
February 17th, 2011 TSX: V.LMR
LOMIKO METALS INC. ANNOUNCES $400,000 FLOW-THROUGH PRIVATE PLACEMENT FINANCING
Vancouver, BC. - LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, Europe: ISIN: CA54163Q1028, WKN: A0Q9W7,) (“Lomiko” or “the Company) announces a private placement to raise up to $400,000 through the sale of up to 5,000,000 flow-through units of the Company priced at $0.08 per unit. Each flow-through unit will consist of 1 flow-through common share and one half of one transferable non-flow-through share purchase warrant, each full warrant being exercisable at a price of $0.12 for a period of 12 months after the closing date.
The Company has agreed to pay a cash commission of 5% and finder’s fee options equal to 8% of the number of units subscribed for at the unit price of $0.08 for a term of 12 months, with each unit consisting of a common share and a half warrant on the same terms as the unit half warrant stated above.
The proceeds of the offering will be used for exploration purposes on the Company’s wholly owned Vines Lake property in the Cassiar region of British Columbia.
The financing is subject to regulatory approval.
For more information, please contact Paul Gill at 604-729-5312 Email: [email protected]. Website: www.lomiko.com.
On behalf of Lomiko Metals Inc.
Paul Gill President & CEO
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.