Lomiko Metals Provides Update on its Circular and Announces Release of Year-End Financials
Lomiko Metals Provides Update on its Circular and
Announces Release of Year-End Financials
MONTREAL— November 29, 2021 - Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) ("Lomiko Metals”
or the “Company”) announces that further to its management information circular dated November 4, 2021 and filed on
SEDAR (the “Circular”), it wishes to provide more information to its shareholders regarding the extension of closing of
the sale of the Company’s wholly owned subsidiary, Lomiko Technologies Inc., in accordance with the Business
Corporations Act (BC), to Promethieus Technologies Inc.
The Circular mentions that the Share Purchase Agreement was entered into on July 31, 2020. The Company would
like to correct that information, as the agreement was actually entered into on July 31, 2019. Shareholders originally
approved the transaction in 2019 at a shareholders meeting. The Share Purchase Agreement was subsequently
amended with amending agreements dated December 10, 2019, June 20, 2020 and October 5, 2021. Due to Brexit
and Covid-19, the transaction never closed, hence the reason shareholders are requested to consider and to approve
a special resolution authorizing another extension of the Share Purchase Agreement in the Circular for a new closing
date of November 30, 2022.
The independent directors that approved the Share Purchase Agreement in 2019 and the extensions in 2020 were
Julius Galik and Gabriel Erdelyi. Mr. Galik resigned as a director effective December 17, 2020. Mr. Gregg Jensen
replaced Mr. Galik as independent director overseeing the transaction and has approved the Circular. The independent
directors have determined that the economics of the transaction remained the same since the entering into of the Share
Purchase Agreement in 2019.
For more information on the transaction, please refer to the Circular. The Company would also like to remind
shareholders that its Annual General Special Meeting will be held on Monday December 6, 2021 at 11:00 a.m. (Eastern
Time).
Year-End Financials
The Company announces that it has filed its July 31st, 2021, year-end financial statements and Management
Discussion and Analysis on www.sedar.com.
Lomiko Metals is dedicated to supporting the de-carbonization of our economy and continues to be committed to and
actively working towards progressing the La Loutre graphite project from Preliminary Economic Assessment (“PEA”) to
Pre-Feasibility Stage (“PFS”) stage and moving forward with continued exploration of the Bourier lithium project to
support the growth and development of Canada’s critical mineral supply chain.
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 42 minerals claims totaling
2,509 hectares (25.1km2). Lomiko Metals published a Preliminary Economic Assessment (“PEA”) on September 10,
2021 which indicated the project had a 15 year mine life. 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
-2-
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, 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 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 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.