LMR.V · 2021-03-15 12:00:00

Lomiko Metals Inc. Applies to TSX to Close Private Placement - $2,178,492 Cdn

Financings

#439, 7184 120th Street, Surrey, BC, V3W 0M6● Ph: (778) 228-1170 ● Fax: (604) 583-1932 ● Website: www.lomiko.com

Not for distribution to United States newswire services or for dissemination in the United States.

Vancouver, BC, March 15, 2021 – LOMIKO METALS INC. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C),

(the “Company”) has received conditional acceptance and will now apply to the TSX Venture Exchange to

close a private placement as to $2,178,492 and issue 14,523,278 units (the “Units”) at $0.15 per Unit. Each

Unit will consist of one common share and one warrant exerciseable at $0.25 for a period of 24 months from

issuance.

The financing is offered to accredited investors as well as all shareholders of record of the Company as at

March 12, 2021 (the "Record Date") resident in Canada who are eligible to participate under the exemption

from prospectus requirements set out in applicable instruments of Canadian Securities Administrators (the

“Existing Shareholder Exemption”) and who continue to be shareholders of the Company immediately prior

to the closing of the offering. Subscribers proposing to purchase Units under the Existing Shareholder

Exemption may not purchase more than $15,000 in value of securities pursuant to the exemption in any

twelve-month period unless such subscriber has obtained 'suitabili ty advice' from a registered investment

dealer, as such term is used in applicable instruments of Canadian Securities Administrators. There is no

minimum amount that will be required to be raised pursuant to the Existing Shareholder Exemption portion

of t he offering. Any person who becomes a shareholder of the Company after the Record Date is not

permitted to participate in the offering using the Existing Shareholder Exemption but other exemptions may

still be available to them. Shareholders who became shareholders after the Record Date should consult their

professional advisors when completing their subscription form to ensure that they use the correct exemption.

There are no undisclosed material facts or material changes in respect of the Company.

A. Paul Gill, the President and a director of the Company will participate as to an aggregate of $150,000 or

1,000,000 Units. The participation in the private placement by Mr. Gill may be considered a "related party

transaction" (the "Related Party") as defi ned under Multilateral Instrument 61-101 ("Ml 61-101"). The

Company has determined that exemptions from the formal valuation and minority shareholder approval

requirements under Ml 61-101 are available. In particular, the Company has determined that the exemptions

set out in paragraphs (a) and (b) in section 5.5 of Ml 61-101 are applicable since the aggregate consideration

to be paid by the Related Party does not exceed 25% of the market capitalization of the Company and the

Company is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange. In addition,

regarding the minority shareholder approval exemptions, the independent directors have determined that the

exemptions set out in paragraphs (l)(a) and (b) in section 5.7 of Ml 61-101 are applicable in that the aggregate

consideration to be paid by the Related Party does not exceed 25% of the market capitalization of the

Company, the distribution of the securities to the Related Party has a fair market value of not more than

$165,000 and the Company is not listed on the Toronto Stock Exchange, but only on the TSX Venture

Exchange.

In order to participate in the private placement and support the Company, Mr. Gill recently made the

following trades:

(1) February 17, 2021 sold 350,000 shares in the public market at $0.245;

(2) February 18, 2021 sold 650,000 shares in the public market at $0.0225;

(3) February 19, 2021 exercised 4,000,000 warrants at $0.05;

(4) March 2, 2021 AJS management Corp., a company wholly owned by Paul Gill, sold

1,500,000 shares sold privately at $0.15;

(5) March 11, 2021 transferred 500,000 warrants privately at $0.10; and

(6) March 11, 2021 transferred 200,000 warrants privately at $0.10.

On closing, the Company will pay a finder’s fee in accordance with the policies of the TSX Venture Exchange

payable either in cash, shares and/or warrants or a combination thereof, all in accordance with the policies of

the TSX-V.

The net proceeds from the units shall be for general working capital. All the securities issued are subject to

resale restrictions under applicable securities legislation of four months plus one day from issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities

in the United States. The securities have not been and will not be registered under the United States Securities

Act of 1933, as amended (the "U.S. Securities Act") or any state sec urities laws and may not be offered or

sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the

U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is

available.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at

604-729-5312 or email: [email protected].

On Behalf of the Board,

A. Paul Gill

Chief Executive Officer

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.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any jurisdiction in which such

offer or solicitation would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities

offered under the offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the

"Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or

for the account or benefit of, any U.S. Person (as defined in Regulation S of the Securitie s Act) or a person in the United States, unless

an exemption from such registration requirements is available.

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