Non-brokered offering funds exploration and general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 4 - Lomiko Metals Inc. said it increased its non-brokered private placement of units to C$2 million from C$1 million. The deal priced Jan. 29.
The company will now sell 15,384,615 units of one flow-through common share and one half-share warrant at C$0.13 per unit.
Each full warrant is exercisable at C$0.20 for 18 months. The strike price is a 33.33% premium to the Jan. 28 closing share price of C$0.15.
Settlement is expected Feb. 11.
Proceeds will be used for the exploration program on the Quatre-Milles East and West mineral properties, business development, working capital and general corporate purposes.
Lomiko is a natural resource company in Delta, B.C.
| Issuer: | Lomiko Metals Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 15,384,615
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 29
|
| Upsized: | Feb. 4
|
| Settlement date: | Feb. 11
|
| Stock symbol: | TSX Venture: LMR
|
| Stock price: | C$0.15 at close Jan. 28
|
| Market capitalization: | C$9.23 million
|
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