Lomiko appoints Petrina project manager, grants options

Aug 4, 2021

2021-08-04 18:32 ET – News Release

Mr. A. Paul Gill reports

LOMIKO METALS HIRES MIKE PETRINA FOR PROJECT MANAGEMENT

Lomiko Metals Inc. has appointed Mike Petrina of Little Rock Consultants as project manager.

Mr. Petrina is a Mining Engineer with over 30 years of expertise in operations, engineering, and project development, and is skilled at advancing open pit and underground projects whilst working responsibly with stakeholders in the local community, Indigenous communities, and investors to maximize project value and comply with Environmental, Social and Governance (ESG) requirements. His experience ranges from working with smaller technical teams to large operations workforces.

Mr. Petrina’s experience with advanced stage projects in the Pre-Feasibility and Feasibility Stages will be extremely helpful as Lomiko proceeds with La Loutre Project.

Within the contract, Little Rock Consultants will reserve up to 65 hours per month for project work. In consideration for the Consultant providing the Services, the Company shall pay to the Consultant a salary of $7,500 per month for up to 65 hours per month, plus applicable taxes (the “Fee”). In the event the Services are required for more than 65 hours per month, the Consultant shall invoice for such additional hours at the rate of $115.00 per hour. The agreements contains termination clauses whereby the Company is obligated to pay termination pay of 12 times the salary in case of termination or change of control.

Further, the Company advises that it has granted stock options to its directors, officers and consultants for an aggregate of 5,000,000 common shares, exercisable at $0.12 cents per share for five years.

Where required, the option agreements to be issued will be subject to the TSX four (4) month hold period and will be granted in accordance with the Company’s Stock Option Plan.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: [email protected].

We seek Safe Harbor.

https://www.lomiko.com/