Lomiko closes acquisition of 778,890 SHD shares

Mar 9, 2016

LOMIKO TECHNOLOGIES CLOSES ACQUISITION OF SMART HOME DEVICES LTD

Lomiko Metals Inc. has completed the acquisition of 778,890 shares of SHD Smart Home Devices Ltd. SHD Smart Home Devices Ltd. will develop, contract, manufacture, distribute and sell Spider chargers and related devices.

“With the launch of Smart Home Devices Ltd., Lomiko has an opportunity to garner a profitable sales channel for the Spider charger,” stated A. Paul Gill, chief executive officer. “Major companies such as Leviton, Legrand, Pass & Seymour and others have recognized this new market and have launched similar devices.”

There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB (universal serial bus) charging devices. If only one or two USB charging devices are installed in new homes and retrofitted into current homes undergoing renovations, there will be a healthy demand for these IOT (Internet of Things) products.

Previously, Lomiko Technologies was the exclusive licensee of three devices designed by MegaHertz Power Systems Ltd. based on an Oct. 27, 2014, news release. Now MegaHertz Power Systems has amalgamated a number of new concept designs, technology licences, patent applications and intellectual property into Smart Home systems in order to penetrate the smart home market for IOT and seek out revenue streams. Lomiko will contribute the trademark and jointly developed Spider charger, and become a shareholder of Smart Home.

In addition, Smart Home plans to enter into negotiations to sell the Spider charger and other related devices in North American markets with IOT distributors and builders.

Lomiko Technologies will no longer be the exclusive licensee in North America but will retain its North American licence for the Spider charger, the OEM 120VAC 60W LED driver and the 90-plus 60W LED driver. Further, it will have the opportunity to license new products from Smart Home Devices that are developed.

Lomiko Metals has issued 16,129,743 shares of Lomiko Metals common stock with a hold period that expires July 4, 2016.

http://www.lomiko.com/news.html