Lomiko Metals Inc (LMRMF)

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Lomiko Metals (LMR.V) Closes 2nd Tranche of Private Placement for Proceeds of $100,000

Lomiko Metals Inc (C:LMR)

Shares Issued 179,093,010
Last Close 7/19/2016 $0.035
Wednesday July 20 2016 - News Release

Mr. Paul Gill reports

LOMIKO CLOSES SECOND TRANCHE OF FINANCING FOR $100,000

Lomiko Metals Inc. has received regulatory approval and closed the second tranche of the private placement announced June 20, 2016, for 2.5 million units of the company at a price of four cents per unit. Each unit consisted of one common share and one share purchase warrant exercisable for 18 months at five cents.

The securities have now been issued having a hold period expiring Nov. 20, 2016. The net proceeds of the financing will be used as follows: $35,000 audit fees, $15,000 transfer agent fees, $30,000 annual general meeting fees, $8,000 regulatory filing fees and $12,000 legal fees.

The company continues to accept subscriptions and anticipates closing a third tranche in two weeks.

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