LOMIKO TAKES ACTION ON CRITICAL METALS
Vancouver, B.C., July 17, 2020 (GLOBE NEWSWIRE) -- Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company”) announces that it has engaged Kenmar Securities, LLC of New York (“The Advisor”) to raise $ 40 million Cdn for acquisition and development of critical metals projects. Kenmar Securities, LLC, is a Delaware limited liability corporation and SEC-registered securities broker-dealer and FINRA member.
The Advisor will assist the Company in analyzing its business, operations, properties, financial condition and prospects, prepare suitable marketing materials, contact any potential partner companies, assist and advise the Company with respect to the financial form and structure of any potential transaction.
“This year is the start of the Electric Vehicle Revolution. Lomiko would like to become part of the Battery Material supply chain” stated Mr. A. Paul Gill, CEO.
The Company agrees that, should the Company, or any affiliate of the Company, consummate any Transaction with a Referral pursuant to this Advisory Agreement, from the Effective Date through a period lasting until the twenty-four (24) month anniversary of the cancellation or termination of the Advisory Agreement, the Company shall pay to the Advisor, or cause the Advisor to be paid, at the funding of such Transaction, a success fee (the “Success Fee”) equivalent to five percent (5.0%) of the gross proceeds raised from the Transaction, which is equivalent to the total amount received or to be (and actually) received by the Company, from one or more Referrals. The Advisor cannot be certain that any amount of financing will be made available by its Referrals.
The payment of fees under any transaction is subject regulatory approval.
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
A. Paul Gill
Lomiko Metals Inc. (TSX-V: LMR)