Actionable insights straight to your inbox

Equities logo

Lomiko (LMRMF) Investment Promethieus Cryptocurrency Mining Outlines Plan To Go Public

LOMIKO METALS INC. (TSXV:LMR) (OTC: LMRMF) has engaged Isatis Capital Partners to plan the organization and the inception of a UK public cash shell for Promethieus Cryptocurrency Mining Corp

LOMIKO METALS INC. (TSXV:LMR) (OTC: LMRMF) (FSE: DH8C) (ISIN: CA54163Q1028) (WKN: A0Q9W7) (LEI: 529900GJP51V4HR9MN94) has engaged Isatis Capital Partners to plan the organization and the inception of a UK public cash shell, done in parallel with a European financing through a licensed broker/dealer for Promethieus Cryptocurrency Mining Corp (Promethieus). Following this, the company plans to select a European Exchange. Lomiko has an option to increase its position in Promethieus Cryptocurrency Mining Corp. previous to the Reverse Tale Over (RTO) with the UK shell if funds are required for operational reasons. Lomiko currently owns a 25% equity stake in Promethieus as well as a 25% equity interest in SHD Smart Home Devices, which also owns 25% of Promethieus.

The scope of the Isatis mandate involves two activities, namely: (1) the organization, implementation, clearing with securities regulator and the floating on a Multilateral Trading Facility (MTF) of a Public Limited Company (PLC) organized under the Companies Act, 2006 of the United Kingdom and (2) canvassing and introducing through a licensed broker/dealer to European sophisticated and institutional investors the proposed venture to be amalgamated in the cash shell with the aim to carry out a private placement concurrently with the floating of the ordinary shares of the PLC on a MTF regulated under the Markets and Financial Instruments Directive (MiFID).

Promethieus has assembled a proof of concept demonstrator called the Golden Goose Crypto Rig for market validation and testing customer interest. The concept was well received at a recent Vancouver economic summit. The overwhelming response has set the stage for both consumer and enterprise sales such as centralized Mining Farm operations. Configuration of a lower power home and/or office cryptocurrency mining rig called the Golden Goose II for individual consumers seeking to participate in cryptocurrency mining has been added to the product roadmap to support the increased market interest. Both rigs are fully operational and have been actively mining since December 2017. The enterprise and consumer Golden Goose Crypto Rigs will be further optimized for production to benefit from volume buying cost reduction post funding.

The current Promethieus team has expertise in power management hardware and is developing power management systems to reduce power consumption, increase longevity and maximize hardware operating efficiency for high cost, power hungry electronics hardware associated cryptocurrency mining. Further, the client has established relationships with owners of several facilities and has a rollout plan to rapidly increase mining capabilities based on available capital.

In the interest of full disclosure, we call the reader’s attention to the fact that, 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. 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 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.

A weekly five-point roundup of critical events in the energy transition and the implications of climate change for business and finance.