Lomiko Metals arranges $500,000 private placement
Lomiko Metals Inc. has entered into an agreement with Secutor Capital Management Corp. to finance a private placement of up to $500,000 through the sale of up to 7,142,857 flow-through units of the company priced at seven cents per unit. Each flow-through unit will consist of one flow-through common share and one-half of one transferable non-flow-through share purchase warrant, each full warrant being exercisable at a price of 14 cents for a period of 12 months after the closing date.
The proceeds of the offering will be used for exploration purposes on the company’s Quatre-Milles graphite property in Quebec.
The company has agreed to pay a cash commission to Secutor of 9 per cent of the gross proceeds raised under the offering and will also issue non-transferable warrants equal to 4 per cent of the total number of flow-through shares sold under the offering. Each broker warrant will entitle the holder to purchase one common share at a price of 14 cents for a period of 12 months following the closing date.
The financing is subject to regulatory approval.
We seek Safe Harbor.
http://www.lomiko.com/news.html
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