Lomiko Announces Closing of Private Placement
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Lomiko Announces Closing of Private Placement
Montreal, Quebec – January 19, 2022 – Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce that it has received approval from the TSX Venture
Exchange for the non-brokered private placement previously announced on January 7, 2022 and
updated on January 14, 2022. It has closed its financing for gross proceeds of $1,666,000 and has
issued 20,825,000 units (the “Units”) at a price of $0.08 per unit. E ach Unit consists of one
common share and one warrant exercisable for five years at $0.11.
The Company has agreed to pay cash finder fees in the aggregate of $33,100 and issued an
aggregate of 413,750 warrants, exercisable for two years at $0.11.
Proceeds of the private placement will be used for working capital.
Insiders of the Company subscribed for 1,375,000 Units. As such, this participation constitutes a
“related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority
Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the
formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair
market value of the Units acquired by the insiders nor the consideration for the Units paid by such
insiders, exceed 25% of the Company’s market capitalization. The Company did not file a material
change report 21 days prior to the closing date of this private placement as details of the respective
participation of such insiders in the Offering was unknown at such time.
The securities have now been issued having a required hold period expiring May 20, 2022.
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company
with purpose: a people -first company where we can manifest a world of abundant renewable
energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to
create a new energy future in Canada where we will grow the critical minerals workforce, become
a valued partner and neighbour with the communities in which we operate, and provide a secure
and responsibly sourced supply of critical minerals.
The Company holds a 100% interest in its La Loutre graphite development in southern Quebec.
The La Loutre project site is locat ed within the Kitigan Zibi Anishinabeg (KZA) First Nations
territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated
within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the
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property consists of 1 large, continuous block with 48 minerals claims totaling 2,867 hectares
(28.7km2). Lomiko Metals published a Preliminary Economic Assessment (“PEA”) on September
10, 2021 which indicated the project had a 15 year mine life producing per year 100,000 tonnes of
the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was
prepared as National Instrument 43- 101 Technical Report for Lomiko Metals Inc. by Ausenco
Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and
Metpro Management Inc., collectively the Report Authors.
Lomiko is working with Critical Elements Lithium Corporation towards earning its 70% stake in
the Bourier Project as per the options agreement announced on April 27 th, 2021 . The Bourier
project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee
James Bay territory in Quebec which consists of 203 claims, for a total ground position of
10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region of
Quebec that has historically housed lithium deposits and mineralization trends.
Mr. Mike Petrina, Project Manager, a Qualified Person under National Instrument 43- 101 –
Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure
in this news release.
For more information on Lomiko Metals, review the website at www.lomiko.com or contact us at
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 Company’s objective to
become a responsible supplier of critical minerals, exploration of the Company’s projects,
including expected costs of exploration and timing to achieve certain milestones, including timing
for completion of exploration programs; 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); any anticipated impacts of COVID -19 on the
Company’s business objectives or projects, the Company's financial position or operations, and
the expected timing of announcements in this regard. FLI involves known a nd unknown risks,
assumptions and other factors that may cause actual results or performance to differ materially.
This FLI reflects the Company’s current views about future events, and while considered
reasonable by the Company at this time, are inherentl y 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: current market for critical
minerals; current technological trends; the business relationship between the Company and its
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business partners; ability to implement its business strategy and to fund, explore, advance and
develop each of its projects, including results therefrom and timing thereof; the ability to operate
in a safe and effective manner; uncertainties related to receiving and maintaining exploration,
environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID -19;
impact of increasing competition in the mine ral exploration business, including the Company’s
competitive position in the industry; 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.sedar.com, and on the investor presentation on i ts website. 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 stat ements. Accordingly, readers should not place undue reliance on forward- looking
information. The Company does not undertake to update or revise any such forward- looking
statements or forward -looking information contained herein to reflect new events or
circumstances, except as may be required by applicable securities laws.
Neither the 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 a ccuracy of this news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained herein.
On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
For more information, please contact:
Kimberly Darlington
514-771-3398