Business
Lomiko Metals Provides Update on its Circular and Announces Release of Year-End Financials
MONTREAL / Nov 29, 2021 / Business Wire / Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) ("Lomiko Metals” or the “Company”) announces that further to it
About this update from Lomiko Metals Inc.
[{"type":"text","content":"MONTREAL / Nov 29, 2021 / Business Wire / Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (\"Lomiko Metals” or the “Company”) announces that further to its management information circular dated November 4, 2021 and filed on SEDAR (the “Circular”), it wishes to provide more information to its shareholders regarding the extension of closing of the sale of the Company’s wholly owned subsidiary, Lomiko Technologies Inc., in accordance with the Business Corporations Act (BC), to Promethieus Technologies Inc. The Circular mentions that the Share Purchase Agreement was entered into on July 31, 2020. The Company would like to correct that information, as the agreement was actually entered into on July 31, 2019. Shareholders originally approved the transaction in 2019 at a shareholders meeting. The Share Purchase Agreement was subsequently amended with amending agreements dated December 10, 2019, June 20, 2020 and October 5, 2021. Due to Brexit and Covid-19, the transaction never closed, hence the reason shareholders are requested to consider and to approve a special resolution authorizing another extension of the Share Purchase Agreement in the Circular for a new closing date of November 30, 2022. The independent directors that approved the Share Purchase Agreement in 2019 and the extensions in 2020 were Julius Galik and Gabriel Erdelyi. Mr. Galik resigned as a director effective December 17, 2020. Mr. Gregg Jensen replaced Mr. Galik as independent director overseeing the transaction and has approved the Circular. The independent directors have determined that the economics of the transaction remained the same since the entering into of the Share Purchase Agreement in 2019. For more information on the transaction, please refer to the Circular. The Company would also like to remind shareholders that its Annual General Special Meeting will be held on Monday December 6, 2021 at 11:00 a.m. (Eastern Time). Year-End Financials The Company announces that it has filed its July 31st, 2021, year-end financial statements and Management Discussion and Analysis on www.sedar.com. Lomiko Metals is dedicated to supporting the de-carbonization of our economy and continues to be committed to and actively working towards progressing the La Loutre graphite project from Preliminary Economic Assessment (“PEA”) to Pre-Feasibility Stage (“PFS”) stage an...