Lomiko Closes 1st Tranche of Private Placement
Lomiko Metals Inc. (“Lomiko”) (TSXV:LMR, OTC:LMRMF, FSE:DH8C) announces it has closed a 1st tranche of its private placement announced September 26, 2018 and will issue 5,061,038 units at $0.05 per unit.
Lomiko Metals Inc. (“Lomiko”) (TSXV:LMR, OTC:LMRMF, FSE:DH8C) announces it has closed a 1st tranche of its private placement announced September 26, 2018 and will issue 5,061,038 units at $0.05 per unit. Each unit will be comprised of one share and one share purchase warrant, with each warrant exercisable at a price of $0.10 for a period of two years from closing. A finder’s fee of cash 7% ($11,413.63) and 7% in warrants (228,272) exercisable for two years at $0.06 has been agreed to be paid/issued.
Proceeds will be used to complete further exploratory work at the La Loutre Property in the Refractory Zone in order to define a resource in compliance with 43-101, and for working capital.
The securities will have a hold period expiring February 4, 2019. The closing of the transaction, the issuance of the securities and the payment of the finder’s fee is subject to the final approval of the TSX Venture Exchange.
For more information, review the website at www.lomiko.com, or contact A. Paul Gill at 604-729-5312 or by email at: info@lomiko.com.
ON BEHALF OF THE BOARD
LOMIKO METALS INC.
A. Paul Gill,
President and 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.
Source: www.lomiko.com