Lomiko Metals Inc. announced a non-brokered private placement of 20,825,000 units at a price of $0.08 per unit for gross proceeds of $1,670,000 on January 7, 2022. The transaction involved participation from insiders of the company for 1,375,000 units. Each Unit will consist of one common share and one warrant exercisable for five years at $0.11.

The company has received conditional approval from the TSX Venture Exchange. Finder fees and commissions may be paid in accordance with the TSX policies. The closing of the transaction is subject to the completion of formal documentation and the approval of the TSX Venture Exchange.