Vancouver, British Columbia--(Newsfile Corp. - November 8, 2018) - Lomiko Metals (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8C)
closed its current non-brokered private placement. The company raised gross proceeds of $620,000 from the placement of 12,400,000
units priced at $0.05 per unit, with each unit consisting of one share and one warrant, with each warrant exercisable at $0.10 for
24 months.
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Lomiko's main asset is its 80% owned La Loutre property. The 2,867 hectare La Loutre flake graphite property in Quebec is
located approximately 53 kilometres east of Imerys Carbon and Graphite's Lac-des-Îles Mine, North America's only operating graphite
mine, and 117 kilometres northwest of the International Sea Port of Montreal.
The March 2016 Technical Report and Mineral Resource Estimate on La Loutre Flake Graphite Property reported 18.4 million tonnes
of 3.19% Indicated and 16.7 million tonnes at 3.75% Flake Graphite Inferred with a cut-off of 1.5%. The sensitivity table also
features 4.1 million tonnes of 6.5% Indicated and 6.2 million tonnes at 6.1% Flake Graphite Inferred with a cut-off of 3%.
Further exploration in the Refractory Zone will be conducted before completing a Pre-economic Assessment. Lomiko currently has a
drill permit in place and a planned 25 hole program, with only 2 of 10 identified anomalies at La Loutre having been drilled.
A Paul Gill, President and CEO, recently stated: "It takes 10-15 times more graphite than lithium to create a
lithium-ion battery for any number of uses including electric vehicle batteries. Leading analyst Industrial Minerals has indicated
that Chinese suppliers of graphite to the electric vehicle market are 'sold out' of material indicating possible that stockpiling
of the material is occurring."
Demand for graphite to be used in the battery sector is expected to grow between now and 2020, driven by a positive outlook and
rapid development of the downstream battery industry, according to Fabrizio Corti, business director for synthetic graphite at
Imerys Graphite & Carbon.
For more information, please visit the company's website, www.lomiko.com, contact A. Paul
Gill, President and CEO at 604-729-5312 or email info@lomiko.com.
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