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Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF) announced plans to invest $300,000 in a private placement at 0.25 for 1.2 million shares of Matnic Resources Inc. (TSXV:MIK).
The investment, which will only move forward if Matnic receives the TSX Venture Exchange’s approval for a reverse takeover by Graphene 3D Labs Inc., will be done through Lomiko Technologies Inc., Lomiko’s newly created subsidiary.
As quoted in the press release:
This transaction is further to the Company’s investment in Graphene 3D, as approved by the Exchange on December 3, 2013. The Company made a $50,000 investment for a 15% interest and was issued 250,000 Series ‘A’ Preferred stock of Graphene 3D. If the RTO is successful, Lomiko will exchange its 250,000 shares of Graphene 3D to shares in the newly formed graphene entity created through the RTO.
A. Paul Gill, CEO of Lomiko, commented:
This is an exciting time for graphene and 3D printing companies with large multi-nationals such as Imerys, Samsung and General Electric entering the market. Lomiko Technologies allows Lomiko to invest in the future of 3D printing and graphene while Lomiko Metals works toward a 43-101 graphite resource in the near term.
Click here to read the full Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF) press release.
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