The Conversation (0)
Lomiko Metals Inc. (TSXV:LMR) will acquire a 40 percent interest in the La Loutre flake graphite property. An area of the property has yielded grab samples of up to 22.04 percent carbon flake graphite, and carbon purity tests have resulted in 100 percent carbon purity for the property’s large and extra large flake graphite.
As quoted in the press release:
Lomiko will acquire a 40% interest in the La Loutre Property by issuing an aggregate of 1,250,000 common shares, at a deemed price of $0.07 Cdn. per share, by paying $12,500 cash and by incurring $500,000 in Exploration Expenditures, as follows:
- paying to the Optionor $12,500 cash on signing this Agreement (non-refundable);
- issuing to the Optionor 1,250,000 common shares within ten (10) business days following the date of TSX approval (Effective Date); and
- incurring Exploration Expenditures aggregating not less than $500,000 on an exploration program by not later than the first anniversary of the Effective Date.
Click here to read the Lomiko Metals Inc. (TSXV:LMR) press release
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