Lomiko Metals Closes $5,520,800 in Financings

Lomiko Metals Inc. (TSXV:LMR) closed the previously announced public offering in connection with the short form prospectus of the Company dated March 6, 2014. 26,584,180 units of the Company were sold at a price of $ 0.11 per Unit and 4,627,000 units of the Company were sold at a price of $0.13 per Flow-Through Unit.

As quoted in the press release:

Each Unit consists of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant being a “Unit Warrant”). Each Flow-Through Unit consists of one Common Share to be issued on a “flow-through” basis within the meaning of the Income Tax Act (Canada) (each a “Flow-Through Share”) and one-half of one common share purchase warrant (each whole warrant being a “Flow-Through Unit Warrant”).

Each Unit Warrant entitles the holder thereof to purchase one common share of the Company (the “Unit Warrant Shares”) at a price of $0.15 per Unit Warrant Share at at any time before the date that is 18 months following the closing date of the Public Offering. Each Flow-Through Unit Warrant entitles the holder thereof to purchase one common share of the Company (the “Flow-Through Unit Warrant Shares”) at a price of $0.20 per Flow-Through Unit Warrant Share at at any time before the date that is 18 months following the closing date of the Public Offering.

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