Home » News » Lomiko closes $250,000 first tranche of financing

Lomiko closes $250,000 first tranche of financing

Jun 27, 2016

LOMIKO CLOSES FIRST TRANCHE OF FINANCING FOR $250,000 FLOW-THROUGH

Lomiko Metals Inc. has received regulatory approval and closed the first tranche of the private placement announced June 20, 2016, for five million flow-through (FT) units of the company at a price of five cents per FT unit. Each FT unit consisted of one flow-through common share and one share purchase warrant exercisable for 36 months at 7.5 cents.

The company paid a finder’s fee of $20,000, along with 200,000 warrants to Secutor Capital Management Corp. and 200,000 warrants to Marquest Capital Markets.

The securities have now been issued having a hold period expiring Oct. 23, 2016. The net proceeds of the financing will be used for company’s properties located in Quebec.

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