Lomiko Closes 2nd Tranche of Private Placement

Spotlight News  |

Lomiko Metals Inc.  (LMR:CA/)LMRMF has closed the second tranche of its private placement and will issue 5.89 million units at five cents per unit for proceeds of $294,500. Each unit will comprise one share and one share purchase warrant, with each warrant exercisable at a price of 10 cents for a period of two years from closing. A finder's fee of 7 per cent in cash and 7 per cent in warrants has been agreed to be paid/issued. Proceeds will be used for working capital.

Due to overwhelming demand, the company will be seeking approval to increase this financing for a third tranche to raise an additional $450,000. In total, the company anticipates it will raise $1-million.

The securities to be issued pursuant to the second tranche will have a hold period expiring Feb. 11, 2019. The closing of the transaction, the issuance of the securities and the payment of the finder's fee are subject to the final approval of the TSX Venture Exchange.

We seek Safe Harbor.

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Companies

Symbol Name Price Change % Volume
LMR:CA Lomiko Metals Inc. 0.05 -0.01 -9.09 15,900
LMRMF Lomiko Metals Inc Ord 0.04 0.01 19.24 4,900

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