Vancouver, B.C., July 31, 2019 (GLOBE NEWSWIRE) -- Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) Lomiko Metals Inc. announces that it has entered into an agreement to sell it’s 100% interest in Lomiko Technologies Inc. to Promethieus Technologies Ltd. (Canada) for $ 1,236,625.
Lomiko Metals Inc. currently owns and will retain 20% of Promethieus Technologies Ltd. (Canada). Further, Lomiko Metals Inc. will be reimbursed $ 193,614.32 in expenses paid by Lomiko Metals on behalf of Promethieus Technologies Inc. (Canada).
Lomiko Technologies is the owner of 18.15% of SHD Smart Home Devices Ltd. and 40% of Graphene Energy Storage Devices. Lomiko Metals Inc. will transfer 1,852,389 shares of Lomiko Technologies representing 100% of the shares of the company.
The transaction is subject to a combination arrangement between Promethieus Technologies Ltd. (Canada) and Promethieus Technologies PLC (U.K.), a minimum Promethieus Technologies PLC (UK) financing of $ 3,670,750, the approval of non-interested shareholders during a special Annual General Meeting (AGM) of shareholders Lomiko Metals Inc. and the approval of the Toronto Stock Exchange. The transaction is considered a non-arms length transaction as Mr. A. Paul Gill is a Director of all the entities involved.
As announced December 3, 2018, Both Promethieus companies changed their mandate to focus on Future Tech investments and has reviewed investment opportunities in electric vehicle infrastructure, clean energy, the Internet of Things (IoT) as well as clean-tech and green tech materials related to these technologies.
For more information on Lomiko Metals, SHD Smart Home Devices or Promethieus, review the website at www.lomiko.com, www.shddevices.com and www.promethieus.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.
On Behalf of the Board
“Jacqueline Michael”
Director, Chief Financial 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.
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