Lomiko Closes Flow-Through Private Placement
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Lomiko Closes Flow-Through Private Placement
Montreal, Quebec – December 23, 2021 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”)
announces that it has received TSX Venture Exchange (the “Exchange”) approval and has closed its non-brokered
private placement (the “Private Placement”) and will issue 18,440,870 flow-through units (the “FT Units”) at a price
of $0.115 per FT Unit for aggregate gross proceeds of $2,120,700.05.
Each FT Unit consists of one flow -through common share (a “Share”) and one -half (1/2) common share purchase
warrant (a “Warrant”) with each whole Warrant exercisable at a price of $0.18 per share for a period of two years.
The Company has paid cash finder fees of $99,785 and issued 867,695 finder warrants (the “Finder’s Warrants”) to
two parties. The Finder’s Warrants are exercisable at a price of $0.18 per share for a period of two years. These finder
fees have been corrected from the press release that was issued yesterday, December 22, 2021.
The securities have been issued having a hold period expiring April 23, 2022.
An insider of the Company subscribed for 434,783 FT Units. As such, his 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 m inority shareholder
approval requirements of MI 61-101 as neither the fair market value of the FT Units acquired by the insiders nor the
consideration for the FT 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 the first tranche of the Offering as
details of the respective participation of such insiders in the Offering was unknown at such time.
The Company intends to use the gross proceeds of the Private Placement to incur Canadian Exploration Expenses and
“flow-through mining expenditures” as defined in the Tax Act on the Company’s La Loutre and Bourier Properties
which will be incurred on or before December 31, 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 located 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 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. 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.
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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, contact Belinda Labatte at 647 -
402-8379 or email: [email protected].
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 and
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 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:
current market for critical minerals; current technological trends; the business relationship between the Company and
its 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 mineral 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 entiret y 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 its 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
statements. 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 accuracy 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.