VANCOUVER, BC / ACCESSWIRE / January 3, 2017 / Lomiko Metals Inc. (TSXV: LMR) (OTCQX: LMRMD) (OTC PINK: LMRMF) (FSE: DH8B) (“Lomiko”) and Canada Strategic Metals Inc.
(TSXV: CJC) (FSE: YXEN) (OTC PINK: CJCFF) (“Strategic Metals”) have
agreed to amend and extend two options agreements for the La Loutre and
Lac des Iles Properties dated February 6, 2015 and May 13, 2016 (the “Agreements”) which allow Lomiko to earn 80% and then 100% ownership of the two properties, respectively.
“We eagerly await drill results from the completed La Loutre drill
program in early 2017.” Stated A. Paul Gill, CEO, Lomiko Metals.
Area of New Drilling at La Loutr
Lomiko has yet to complete the first option as $ 383,000 work remains
to be done. The two companies have now agreed that, under the February
6, 2015 Option Agreement to earn 80%, the deadline date for work
completion will be extended from December 31, 2016 to June 30, 2017. All
other requirements under the agreement have been met.
In addition to the changes to the February 6, 2015 Agreement, the
companies have also amended the May 13, 2016 Agreement to earn 100%
which starts after the completion of the February 6, 2015 option. The
companies have agreed to eliminate the $10,000 payment required at point
6.A.1 (a) of the Option Agreement, dated May 13, 2016.
In lieu of the above changes, Lomiko has agreed it will issue and
deliver 200,000 of its common shares to Canada Strategic within ten days
of TSX approval of the Agreement.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: [email protected].
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
In the interest of full disclosure, we call the reader’s attention to
the fact that Equities.com, Inc. is compensated by the companies
profiled in the Spotlight Companies section. The purpose of these
profiles is to provide awareness of these companies to investors in the
micro, small-cap and growth equity community and should not in any way
be considered as a recommendation to buy, sell or hold these securities.
Equities.com is not a registered broker dealer, investment advisor,
financial analyst, investment banker or other investment professional.
We are a publisher of original and third party news and information. All
profiles are based on information that is available to the public. The
information contained herein should not be considered to be complete and
is not guaranteed by Equities.com to be free from misstatement or
errors. The views expressed are our own and not intended to be the basis
for any investment decision. Readers are reminded to do their own due
diligence when researching any companies mentioned on this website.
Always bear in mind that investing in early-stage companies is risky and
you are encouraged to only invest an amount that you can afford to lose
completely without any change in your lifestyle. Equities has been
compensated with cash, common shares and/or warrants for market
awareness services provided.
Read Next
