Lomiko Metals Inc. announced that it has closed a non-brokered private placement of 9,765,400 flow-through units at a price of CAD 0.065 per unit for gross proceeds of CAD 634,751 on July 21, 2022. Each flow-through unit consists of one common share and one-half of a common share purchase warrant with each whole Warrant exercisable at a price of CAD 0.10 per share for a period of two years following closing. The company has received conditional approval from the TSX Venture Exchange.

The Company will pay a cash finder's fees of CAD 31,737.55 and issue 580,182 finder warrants to three parties. Each Finder's Warrant is non transferable and exercisable at a price of CAD 0.10 per share for a period of two years following closing. The closing of the transaction is subject to the completion of formal documentation and the approval of the TSX Venture Exchange.

Pursuant to applicable Canadian securities laws, all securities issued pursuant to this private placement are subject to a hold period of four months and one day. The transaction included participation from 3 placees. The company has paid finders' fee of CAD 6,987.50 in cash and 199,412 finder's warrants to GloRes Securities Inc. and CAD 24,750.05 and 380,770 finder's warrants to Laurentien Bank in connection with the transaction.