Lomiko Metals Announces Closing of Flow-Through Financing

Core Points - Lomiko Metals Inc. has successfully closed a non-brokered private placement for approximately $800,000 through the issuance of 6,666,666 flow-through common shares at a price of $0.12 per share [1][3] - The proceeds from this financing will be allocated towards strategic initiatives, including resource exploration expenses related to the La Loutre project and the Yellow Fox property [3][4] - The company has reported a significant increase in mineral resources at the La Loutre project, with an updated estimate showing 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% Cg per tonne, representing a 184% increase from previous estimates [6] Financing Details - The company paid cash finder's fees of $45,600 and issued 380,000 Finder's Warrants, allowing the purchase of common shares at $0.24 for two years [2] - All securities issued are subject to a hold period expiring four months and one day from their issuance date [2] Project Information - The La Loutre project is located in southern Quebec and consists of 76 mineral claims covering 4,528 hectares [4] - The Yellow Fox property is an early-stage exploration site located in Newfoundland, with historical samples showing significant grades of gold, antimony, and silver [10] - Lomiko also holds interests in seven early-stage projects in southern Quebec, covering a total of 18,622 hectares [7][8]