Lomiko Metals Inc. announced a private placement of up to 33,333,333 units of the company at a price of CAD 0.03 per unit to raise gross proceeds of up to CAD 1,000,000 on October 25, 2022. Each unit will consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to acquire one common share at a price of CAD 0.05 for a period of 60 month.

The company will pay finder fees and commissions in accordance with the TSX policies. All the securities issued in the transaction are subject to a hold period of four months and one day. The transaction remains subject to the final approval of the TSX Venture Exchange.

Closing is subject to several prescribed conditions, including, without limitations, approval of the TSX Venture Exchange. All the securities issued under the transaction are subject to resale restrictions under applicable securities legislation.