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Lomiko Metals Announces Closing of the Second Tranche of the Hard Dollar Financing and First Tranche of Flow-Through Financing and Extension of the Flow-Through Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Lomiko Metals Inc.
[{"type":"text","content":"Lomiko Metals Announces Closing of the Second Tranche of the Hard Dollar Financing and First Tranche of Flow-Through Financing and Extension of the Flow-Through Financing\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \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 second tranche of the hard dollar financing and a first tranche of the flow-through financing for $113,500 and $109,999.86 respectively.\n \n\n The Company anticipates to issue (1) 840,741 common shares at $0.135 along with a warrant exerciseable for three years at $0.20 for gross proceeds of $113,500; and (2) 647,058 flow-through common shares at $0.17 with a warrant exerciseable for two years at $0.20 for gross proceeds of $109,999.86.\n \n\n A cash finder's fee of 5% or $10,675 has been agreed to be paid.\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 the issuance of the securities remain subject to receipt of all necessary regulatory approvals, including the approval of the TSXV.\n \n\n The Company intends to use the proceeds of the hard dollar financing to continue the engineering phase of the prefeasibility study of the La Loutre graphite project, progressing with the bulk sample and anode piloting at the La Loutre project, explore the Company’s Yellow Fox property, regional graphite exploration, and general working capital purposes.\n \n\n The gross proceeds from the issuance of flow-through common shares will be used to incur resource exploration expenses, which will constitute “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow-through critical mineral mining expenditures” as defined in subsection 127(9) of the Income Tax Act (the “Qualifying Expenditures”), which will be incurred on or before December 31, 2026 and will be renounced with an effective date no later than December 31, 2025 to the subscribers of flow-through common shar...