Lomiko Metals Inc. (Lomiko) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) announces it has closed the 3rd and final tranche of its private placement and will issue 12,400,000 units at $0.05 per unit for proceeds of $620,000. Each unit will be comprised of one share and one share purchase warrant, with each warrant exercisable at a price of $0.10 for a period of two years from closing. A finders fee of 10% cash has been agreed to be paid. Proceeds will be used for working capital. In total, the Company has raised $1,167,552
The securities to be issued pursuant to the 3rd tranche will have a hold period expiring March 8, 2018. The closing of the transaction, the issuance of the securities and the payment of the finders fee is subject to the final approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD LOMIKO METALS INC.
A. Paul Gill, President and Chief Executive Officer
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Lomiko Metals Inc.
A. Paul Gill, 604-729-5312
and Chief Executive Officer