Vancovuer, B.C., Dec. 18, 2019 (GLOBE NEWSWIRE) -- Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) announces has received subscriptions and raised $275,000 through the sale of 5,500,000 units at $0.05 per unit. Each unit will be comprised of one share and one-half share purchase warrant, with each whole warrant exercisable into one share at a price of $0.07 for a period of two years from closing date.
Proceeds will be used for working capital. All securities will be subject to a four-month plus one day hold period from the closing. The issuance of the securities is subject to the final approval of the TSX Venture Exchange. No finder’s fee will be paid. A. Paul Gill, the President and a director of the Company participated as to $51,500 (1,030,000 Units).
The Company advises shareholders that this financing is in addition to the Brokered Private Placement in progress.
For more information, review the website at www.lomiko.com, or contact A. Paul Gill at 604-729-5312 or by email at: info@lomiko.com.
On Behalf of the Board
LOMIKO METALS INC.
"A. Paul Gill"
A. Paul Gill,
President and 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.
Attachment