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Lomiko Metals Debuts Cryptocurrency Mining Rig at CES 2018

The company is set to establish its footprint in the cryptocurrency space after announcing its new product at CES this year.

Once again, CES has set the stage for another year of the latest innovations in technology. A rainy convention in Las Vegas did not stop enthusiasts and investors from gathering together to watch new products being unveiled from around the industry. One new industry that gained a lot of attention at CES this year was cryptocurrency. Obviously, 2017 was a seminal year for Bitcoin, digital currency and blockchain, and this year is shaping up as time when the technology will achieve increased validation. Lomiko Metals, Inc. (LMR:CA)(LMRMF) is one company set to establish its footprint in this space, announcing its new product for this budding sector at CES this year.

Lomiko introduced the Promethieus Cryptocurrency Mining Corporation, and debuted their prototype mining rig. Digital mining involves carrying out processor-intensive tasks to solve complicated mathematical problems in order to verify crypto-currency transactions. Mining Rig interest has been amplified as Bitcoin and other coins have increased their value to astronomical levels.

According to the announcement, the company has been testing rig designs for optimization of cryptocurrency mining for one month prior to increase to 32 rigs, and then, through an anticipated $5 million private financing for Promethieus, expanding to 750 rigs to take advantage of currently available space. The mining rig will focus on core cryptocurrencies like Bitcoin, Ethereum, Ripple, Monero, Litecoin, Dash and Z-Cash, but will also evolve to mine other cryptocurrencies that come to prominence.

Promethieus Adding Fire to Lomiko’s Portfolio

“The approach of most companies in this space has been to rent server farms, build in cold climates, or construct new farms based on currently available parts and products,” stated A. Paul Gill, CEO. “Our approach is from an engineering standpoint – the focus is on creating new designs for cryptocurrency mining – efficiency, cost effectiveness and the longevity of the mining rig units at optimal production is paramount.”

The deal for Lomiko is a $30,000 investment in Promethieus for 25% equity. SHD Smart Home Devices, which Lomiko recently increased ownership of to 25%, has another 25% equity in the digital mining company. SHD Smart Homes should be familiar to Lomiko investors because the two companies along with MegaHertz Power Systems Ltd. launched the Spider Charger®, a unique smart home device designed for hotels, condos, offices and new homes. With six USB ports and two regular AC wall receptacles, the Spider Charger was built to seamlessly integrate into existing firmware and can even be programmed with open source software.

“The Spidercharger will replace a normal wall plug, it will have connectivity to wireless networks, security protocols that we can program into it, and in addition to that you can reprogram them and have them communicate with mobile devices,” said Gill. “So, really this is a multitasking device.”

Lomiko and SHD Smart Home are in discussions with a U.S.-based distributor, Automated Building Devices, to begin selling the device to builders in the Western states.

The addition of adding cryptocurrencies to Lomiko’s series of revenue buckets is not surprising. Gill and his team have always been excellent at speculating market trends and tapping into a exciting new sector at multiple angles.

Tapping into Multiple Booming Sectors

“The ultimate goal is leaning towards vertical integration,” Gill told Equities last year. “We want to create opportunities in which we have a knowledge of where the minerals are extracted, and also an eye on where the minerals are going to be used in the end product. So, we want to be able to cover that entire value chain of the product.”

The minerals that Gill references in the quote abive are really the first end of the spectrum in Lomiko’s diverse business model. At Lomiko’s La Loutre graphite project in Southern Quebec, the company has a very large project with 42 mineral claims and high-grade graphite results.

Late last year, Lomiko released the latest drill results from La Loutre showing high grade graphite intercepts as part of a 10-hole, 1,550-meter drill program completed in December 2016 in the Refractory zone at the project. Highlights of the results included Hole LL-16-06 returning values of 7.67% flake graphite (Cg) over 85 meters, including 13.09% graphite over 31.5 meters. Drilling indicates that the mineralization is 200 meters wide at a current strike length of 400 meters trending in a northwest to southeast direction. Importantly, the strike remains open in both directions.

Lomiko intends to publish a Pre-Economic Assessment for La Loutre this year. This would be right in line with increasing graphite prices due to the exploding electric vehicle market that uses graphite for its batteries.

“Now that flake graphite prices are increasing, we anticipate it will draw the attention of quick-acting, savvy investors looking for maximum return on investment in the other battery material & graphite,” stated Gill in a previous press release. “Lomiko provides an interesting combination of advanced development with an established resource and value, based on our small market of $4 million Cdn.”

Until their PEA, Lomiko has been successfully raising funding through ongoing private placements to increase its drilling operations and complete graphite metallurgy, purity and characterization testing.

Not to mention, Lomiko has a hand in the graphene market. The company has a 40% interest in Graphene ESD, a U.S.-based company established in partnership with Graphene Lab and Stony Book University. The lab is working with this “miracle metal” to use its 2D properties that are strong, flexible, conductive, durable and thinner than human hair to disrupt the energy storage market.

The graphite prospects alone make Lomiko a company to watch, but with their Spider Charger and now a cryptocurrency mining rig Gill and his team are once again approaching consumer movements at just the right time.

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