Lomiko Metals Inc. announced a private placement of 70,000,000 hard dollar units at a price of CAD 0.03 per unit for the gross proceeds of CAD 2,100,000 and 12,500,000 flow-through units at a price of CAD 0.04 per unit for the gross proceeds of CAD 500,000 for the total gross proceeds of CAD 2,600,000 on June 16, 2023. Each flow-through unit will consist of one common share and one common share purchase warrant, with each whole Warrant being exercisable at a price of CAD 0.06 per share for a period of two years following the closing. Each hard dollar unit will consist of one common share and one common share purchase warrant, each hard warrant shall entitle the holder to acquire one common share at a price of CAD 0.05 for a period of 60 months.

Finder fees and commissions may be paid in accordance with the TSX Venture Exchange policies. All securities to be issued under this private placement are subject to a hold period of four months and one day. The private placement 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.