Lomiko Metals increases private placement to $2-million

Feb 4, 2014

LOMIKO FINANCING UPDATE

Further to the company’s press release dated Jan. 29, 2014, Lomiko Metals Inc. has increased its non-brokered offering from 7,692,307 flow-through units to 15,384,615 units for gross proceeds of up to $2-million. The securities underlying the private placement units will be issued on the same terms as the securities underlying the flow-through units to be issued under the public offering (as referred to in the company’s press release dated Jan. 29, 2014). The private placement will be carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws. The securities to be issued under the private placement will be subject to a four-month hold period from the closing date of the private placement. A finder’s fee in connection with the private placement is expected to be paid to an arm’s-length third party of Lomiko. Lomiko will allocate the financing to subscribers found by Secutor Capital Management Corp.

The net proceeds from the private placement will be used by Lomiko primarily in connection with the exploration program on the Quatre-Milles East and West mineral properties (Quebec).

Closing of the private placement is expected to occur on or about Feb. 11, 2014, and is subject to customary conditions and regulatory approval, including the approval of the TSX Venture Exchange.

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