Vancouver, B.C., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) Lomiko Metals Inc. announces that it’s participation of 20 % in Promethieus Technologies Inc. (“Promethieus Tech”) will be exchanged for 20 % equity in a new to be formed entity Promethieus Ventures N.V. (“Promethieus N.V.”).which intends to list on the Dutch Caribbean Securities Exchange (DCSX) N.V
The (DCSX) is a self-regulatory international exchange focused on the listing and trading of domestic and international securities. It is a securities exchange platform where companies can raise funding through a large network of global investors. The DCSX is focused on servicing start-ups as well as small and medium-sized enterprises. The DCSX is located in Curacao, a Lesser Antilles island country in the southern Dutch Caribbean region.
Promethieus N.V. will seek to raise up to 10 million USD to advance the projects currently underway. The listing agent for Promethieus N.V. is Amergeris Global Listing and Exchange Services. The company has requested and received the ticker symbol ‘TECH’ for Promethieus N.V.
Lomiko confirms that on July 31, 2019 it had entered into an agreement to sell it’s 100% interest in Lomiko Technologies Inc. to Promethieus Technologies Inc. (Canada) for $ 1,236,625 in return for a 20 % equity participation in Promethieus Tech. Lomiko subsequently provided an outline of reasons for the sale on November 25, 2019. Further, Lomiko will be reimbursed $ 193,614.32 in expenses paid by Lomiko on behalf of Promethieus Tech. This transaction was approved by shareholders of both Lomiko Metals Inc. and Promethieus Tech Lomiko Technologies Inc. is the owner of 18.15% of SHD Smart Home Devices Ltd. and 40% of Graphene Energy Storage Devices. Lomiko was a founding shareholder of Promethieus Tech and currently owns 20% of that company. The transaction was reviewed by the applicable regulatory bodies. The transaction was considered a non-arms length transaction as Mr. A. Paul Gill is a Director and a significant shareholder of all the entities involved.
As announced December 3, 2018, Promethieus Technologies Inc. changed it’s 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), or the DCSX accept responsibility for the adequacy or accuracy of this release.
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