Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF,FSE:DH8B)(“Lomiko”) Lomiko Metals Inc investment in SHD Smart Home Devices Ltd. has garnered private equity interest. SHD Smart Home Devices has entered into an agreement to raise $ 5 million from a private equity group to develop a series of new home and building automation devices to be manufactured through SHD Smart Home Devices Ltd., a Joint Venture between Lomiko Metals and MegaHertz Power Systems.
“The new investment will be targeted at developing sales, increasing manufacturing capabilities and building out further products in the Smart Home and Internet of Things (IoT) industry,” stated A. Paul Gill, CEO Lomiko Metals Inc. “The products will allow customers to increase the ‘Wow’ factor for our target market of new home, condos, hotel and office builders.”
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SHD Smart Home Devices Ltd. is an Internet of Things company launched February 16, 2016 and is focused on developing smart home automation and security devices for homes, offices, industrial buildings and hotels. SHD was formed to commercialize intellectual property that has been jointly under development at the MHPS innovation lab over the past couple of years. SHD technology focuses on power savings, connectivity and security.
Allied Market Research indicates that the IoT market will reach $1Trillion USD by 2023 with the smart home and building automation market surpassing $35B by 2020 with a CAGR of 29%. This represents an enormous opportunity for both Lomiko and SHD.
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, offices, 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. SHD 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 and 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.
On Behalf of the Board
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor.
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