TSX Venture Approves Lomiko Deal with Shd Smart Home Devices Ltd to Manufacture, Distribute and Sell Internet of Things (Iot) Based Devices
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TSX VENTURE APPROVES LOMIKO DEAL WITH SHD SMART HOME DEVICES LTD TO
MANUFACTURE, DISTRIBUTE AND SELL INTERNET OF THINGS (IOT) BASED DEVICES
Vancouver, B.C May 19, 2017 Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE:
DH8C) Lomiko Metals Inc. has received approval and the TSX Venture Exchange has accepted
for filing documentation related to an agreement dated March 15, 2017, between Lomiko Metals
Inc. (the “Company”) and engineering partners MegaHertz Power Systems Ltd. (“Megahertz”) and
SHD Smart Home Devices Ltd. (“SHD”) to accelerate the launch of the USB Spider Charger,
whereby the Company will contribute to SHD any and all R&D, trademarks, it’s e -commerce
website, contacts and intellectual property (the “Lomiko Assets”) created under it’s previous license
agreements with MegaHertz.
In consideration SHD will recognize the Lomiko Assets at a gross conditional value of $474,633
Cdn. and issue to Lomiko 659,213 common shares, at a deemed valu e of $0.72 per share, in lieu
of cash payment for the Lomiko Assets. SHD shall assume all past, current and future obligations
of Lomiko to MegaHertz under the License Agreements and the Addendum thereto, and MegaHertz
agrees to accept the assumption by SHD of any and all such obligations of Lomiko to MegaHertz.
Also, under the agreement, Lomiko has issued 600,000 shares to SHD having a hold period ending
September 20, 2017 to receive an additional 208,333 shares of SHD common stock at the deemed
price of $0.72 per share.
SHD is a company jointly launched by Lomiko and MegaHertz February 16, 2016, focused on
Internet of Things (IoT) devices. SHD will develop, contract manufacture, distribute and sell Spider
Chargers and related devices. Under the existing agreements, Lomiko and MegaHertz has been
working on completing safety certificatio n for Power Converter for LED lighting systems, the USB
Spider Charger devices and coordinating partnerships with manufacturers located in China, India
and Canada.
"SHD has an incredible opportunity to participate in a burgeoning IoT and Smart Device market. ",
stated A. Paul Gill, CEO., "Major companies such as Leviton, Legrand, Pass and Seymour and
others have recognized this new market and have launched similar devices."
There are currently 130 million established households in North America and a healthy seasonally
adjusted annualized rate of 1.3 million housing starts. In addition, o ffices, hotels and coffee shops
are also potential markets for USB charging devices. If only one or two USB charging devices are
installed in new homes and retro -fitted into current homes undergoing renovations, there will be a
healthy demand for these IOT products. Smart Home Ltd. plans to enter into negotiations to sell
the Spider Charger and other related devices in North American markets with IOT distributors and
builders. Lomiko will share its network of industry connections to help grow the venture an d then
enjoy the SHD equity multiplier without being burdened with any engineering, new product
development, IP or associated marketing costs as the Spider charger and SHD suite of IoT
products are rolled out.
To view an enhanced version of Side View of Spider Charger Showing USB Ports, please visit:
http://orders.newsfilecorp.com/files/1944/19264_enhanced%202.jpg
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
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.