Lomiko Metals (TSX.V: LMR) has announced updates on its share consolidation and private placement. The company is consolidating its share capital on a ten-for-one basis, effective July 15, 2024. Following the consolidation, Lomiko Metals will have approximately 40,265,337 common shares outstanding.

Lomiko Metals Share Consolidation

The company’s board of directors approved the consolidation, with no shareholder approval required. Trading on the post-consolidation basis will commence on July 15, 2024, subject to TSX Venture Exchange approval. No fractional shares will be issued; fractions will be rounded to the nearest whole share.

Impact on Shareholders

Shareholders with shares held by brokers don’t need to take action. Registered shareholders will receive instructions and must submit their pre-consolidated shares for exchange. Adjustments will also be made to the company’s outstanding warrants, options, and other convertible securities.

Flow-Through Unit Upsize

Lomiko Metals is upsizing its previously announced flow-through offering. The company may issue up to 1,463,415 flow-through units at $0.41 per unit, totalling $600,000. Each unit includes one flow-through share and one-half of a share purchase warrant, exercisable at $0.52 per share for 36 months.

Investor Event on July 16, 2024

CEO Belinda Labatte will host a webinar on July 16, 2024, to discuss a $16M grant and funding for the La Loutre graphite project.

About Lomiko Metals Inc.

Lomiko Metals Inc. holds mineral interests in La Loutre graphite development located in the Kitigan Zibi Anishinabeg First Nation’s territory in southern Quebec. The updated Mineral Resource Estimate for La Loutre includes 64.7 million tonnes of Indicated Mineral Resources, averaging 4.59% graphite per tonne.

Additionally, Lomiko Metals has a 49% stake in the Bourier Project, near Nemaska Lithium and Critical Elements in Quebec’s lithium triangle. This project consists of 203 claims, covering 102.52 km2.

On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.

Disclaimer:
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

The image is randomly selected and doesn’t necessarily represent the company or the news below.

Click here for more Company News