Lomiko Metals Announces Closing of the First Tranche of the Hard Dollar Financing

Core Viewpoint - Lomiko Metals Inc. is seeking approval from the TSX Venture Exchange to close the first tranche of a hard dollar financing, aiming for total proceeds of $650,000 through the issuance of 6,500,000 common shares at $0.10 each, along with warrants [1][2] Financing Details - The financing will involve a hold period of four months and one day from the date of issuance, pending necessary regulatory approvals [2] - Proceeds from the financing will be allocated to the engineering phase of the prefeasibility study for the La Loutre graphite project, including bulk sampling and anode piloting, as well as general working capital [3][4] Project Overview - The La Loutre graphite project is located in southern Quebec, within the territory of the Kitigan Zibi Anishinabeg First Nation, covering 4,528 hectares [4] - An updated Mineral Resource Estimate published on May 11, 2023, indicates 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% Cg per tonne, representing a 184% increase in tonnage [6] Additional Projects - Lomiko Metals also holds interests in seven early-stage projects in southern Quebec, covering a total of 328 claims across 18,622 hectares [7][8] - The company has a 49% stake in the Bourier Project, located in Quebec's lithium triangle, consisting of 203 claims over 10,252.20 hectares [9] Exploration Results - The Ruisseau project has reported grades up to 27.9% Cg from four distinct mineralized zones, while other projects like Meloche and Tremblant have also shown significant graphite grades [15]