The units will consist of one common share and one half share purchase warrant exercisable for one year at $0.10.
The funds raised will be used for working capital. There will be restrictions on the number of shares purchased by any one entity such that there will be no new insiders or control persons created. The Company has agreed to pay a cash finder’s fee of 10%. Any shares issued will be subject to a four month hold period.
Lomiko Metals Inc. is a Canadian-based junior company with the objective of increasing shareholder value through the acquisition and exploration of high quality mining projects and development into a fully integrated battery supplier.
Lomiko is currently exploring for salt brines that contain lithium, sodium, sulfate, chloride and potash in salt lakes or salars. Lomiko’s growth strategy is to become a fully integrated supplier of lithium ion and lithium polymer batteries.
The potential for partnership in creating rechargeable lithium batteries to replace current polluting methods of energy is excellent in the newly developing electric vehicles industry. Interest in lithium and lithium batteries is growing exponentially. The Company is committed to its development program and in showing corporate social and environmental stewardship in the arena.