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Lomiko Metals Announces Closing of the First Tranche of the Hard Dollar Financing
Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko” or the “Company”) announces...
About this update from Lomiko Metals Inc.
[{"type":"text","content":"Lomiko Metals Announces Closing of the First Tranche of the Hard Dollar Financing\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }\n \n\n\n\n Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko” or the “Company”) announces that it will apply to the TSX Venture Exchange (“TSXV”) for approval to close the first tranche of the hard dollar financing for total proceeds of $650,000.\n \n\n The Company anticipates issuing 6,500,000 common shares at $0.10, along with a half warrant exercisable for three years at $0.15.\n \n\n All securities issued shall be subject to a hold period expiring four months and one day from their date of issuance. Completion of the financing and issuance of the securities remains subject to receipt of all necessary regulatory approvals, including approval from the TSXV.\n \n\n The Company intends to use the proceeds from the hard dollar financing to continue the engineering phase of the prefeasibility study for the La Loutre graphite project, including progress with bulk sample and anode piloting at the La Loutre project, as well as for general working capital purposes.\n \n\n Gordana Slepcev, CEO, President, and Director, stated: “We are pleased to close the first tranche of the private placement and deploy the funds raised to develop and engineer La Loutre natural flake graphite project to meet the best industry standards. The gross proceeds of the Offering will be allocated to the pre-feasibility study completion, baseline studies, consultations, and Company working capital.”\n \n\n\n\n About Lomiko Metals Inc.\n \n\n\n\n The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation’s territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions.​ Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totaling 4,528 hectares (45.3 km2).\n \n\n The Property is underlain by rocks from the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditi...