Lomiko arranges $1.12-million private placement
LOMIKO TO RAISE $ 1,125,000
Lomiko Metals Inc. has arranged a non-brokered private placement financing to raise up to $1,125,000 from eligible participants through the sale of up to 15 million units of the company at a price of 7.5 cents per unit. Each unit will consist of one common share and one share purchase warrant, exercisable for up to one year from date of approval, at a price of 12.5 cents.
The company has agreed to pay a cash finder’s fee of up to 10 per cent. The net proceeds of the financing will be used for business development purposes and general working capital. Any shares issued will be subject to a four-month hold period.
The above financing is subject to regulatory approval.
http://www.lomiko.com/news.html
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