Lomiko Metals (LMR: CA) Arranges $500,000 Private Placement

Lomiko Metals Inc. (LMR: CA) has arranged a private placement to offer up to two million units of the company at a price of 25 cents per unit. Each unit shall consist of one common share and one share purchase warrant exercisable for 24 months at 50 cents.

The proceeds of the unit financing will primarily be used to complete option payments, repay loans and working capital. Closing of the financing is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange. The securities issued will be subject to a standard four-month-plus-one-day hold period.

A finder’s fee will be payable by the company in accordance with the rules of the TSX Venture Exchange.

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