Lomiko Metals Inc. Receives Approval for First Tranche Private Placement Financing
NEWS RELEASE
May 12, 2011 TSX: V.LMR
LOMIKO METALS INC. RECEIVES APPROVAL FOR FIRST TRANCHE PRIVATE PLACEMENT FINANCING
Vancouver, BC. - LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, Europe: ISIN:CA54163Q1028, WKN: A0Q9W7) May 12, 2011. Lomiko Metals Inc. (the “Company”) is pleased to announce that the TSX Ventures Exchange has approved the first tranche of its private placement financing announced April 4th, 2011. The Company raised $232,000 through the sale of 2,900,000 units (“Units”) at a price of $0.08 per Unit. Each Unit consists of one common share of the Company and one half of one common share purchase warrant, each full warrant being exercisable at a price of $0.12 for a period of twenty-four months after the closing date. The securities have now been issued, having a hold period expiring September 12, 2011.
The Company will pay a cash commission of $16,400 equal to 10% of $164,000 of the offering. The net proceeds of the offering will be used for working capital purposes.
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.
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 release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.