Lomiko Metals Announces Closing of Private Placement for Gross Proceeds of C$500,000

Lomiko Metals Inc. successfully closed a private placement financing totaling C$500,000 through the issuance of 5 million units priced at C$0.10 each. The structure includes one common share and one-half warrant per unit, with full warrants exercisable at C$0.15 per share over a three-year term. Company insiders participated meaningfully in the offering, subscribing for 1.4 million units, representing 28% of the total placement.

The proceeds will be allocated toward general working capital, advancement of the company's flagship La Loutre natural flake graphite project, and regional graphite exploration activities. The La Loutre project represents Lomiko's primary asset, located 180 kilometers northwest of Montreal within the Kitigan Zibi Anishinabeg First Nation territory in southern Quebec. The property encompasses 76 mineral claims totaling 4,528 hectares in a single continuous block.

This financing comes at a time when graphite demand is increasing due to battery and energy storage applications, positioning Lomiko to advance its Quebec-based graphite assets. The company maintains a diversified portfolio including seven early-stage projects across southern Quebec and an optioned property in Newfoundland targeting precious metals, antimony, and rare earth elements. The warrant structure provides potential additional capital if exercised, though this depends on the company's share price performance over the three-year exercise period.

The financing remains subject to final TSX Venture Exchange approval, with all securities subject to a standard four-month hold period. Lomiko's ability to execute on its development timeline for La Loutre will largely depend on successful deployment of these funds and potential future financings, as graphite projects typically require substantial capital for development and processing infrastructure.