Each unit consists of one (1) common share and one common share purchase warrant (each a 'Hard Warrant'). Each Hard Warrant entitles the holder to acquire one (1) common share at a price of
The Units will be subject to a four-month 'hold period' commencing on the closing date pursuant to National Instrument 45-102 - Resale of Securities and Regulation 45-102 respecting Resale of Securities, and the certificates or DRS advice representing such securities will bear a legend to that effect.
Private Placement Use of Proceeds
The net proceeds of the Offering will be used to incur expenses on its graphite and lithium properties. Below is a summary of the major categories applied to the gross proceeds as required by TSXV policy, in addition to working capital requirements: 12% - Anode material studies. 5% - Metallurgical studies. 10% - Environmental, social, and Indigenous studies.
Not more than 10% - Investor Relations and strategic advisory work.
The balance will be applied to working capital, finder fees, and other project expenses.
The Company confirms there is no material fact or material change related to the Company which has yet to be generally disclosed.
Pursuant to applicable Canadian securities laws, all securities issued under this private placement are subject to a hold period of four months and one day. On closing, the Company anticipates paying finders' fees with the issuance of 583,333 common shares. Closing is subject to several prescribed conditions, including, without limitations, final approval of the
About
The Company holds mineral interests in its La Loutre graphite development in southern
The Property is underlain by rocks from the
In addition to La Loutre, Lomiko is working with
Cautionary Note Regarding Forward-Looking Information
This news release contains 'forward-looking information' within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company and any other information herein that is not a historical fact may be 'forward-looking information' ('FLI'). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as 'anticipates', 'plans', 'continues', 'estimates', 'expects', 'may', 'will', 'projects', 'predicts', 'proposes', 'potential', 'target', 'implement', 'scheduled', 'intends', 'could', 'might', 'should', 'believe' and similar words or expressions. FLI in this new release includes, but is not limited to: the Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially, and statements relating to the intended use of proceeds of the Offering and the receipt of final acceptance of the
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the 'Forward-Looking Statements' section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Contact:
Tel: 647-402-8379
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