Promethieus Technologies IPO Will Be Focused on Future Tech Start-Ups
December 03 2018 - 1:00PM
Business Wire
Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF,
FSE: DH8C) Lomiko Metals Inc. announces Promethieus
Cryptocurrency Mining Corp. has changed its name to Promethieus
Technologies (“Promethieus”) and is preparing to complete its IPO
as announced April 6, 2018. Promethieus Technologies PLC (UK) was
formed August 1, 2018 in order to facilitate the IPO. At this time,
the UK company is concluding negotiations with a European brokerage
firm and a European Exchange.
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The company has also changed to a Future Tech focus as it has
identified investment opportunities in electric vehicle
infrastructure, clean energy, the Internet of Things (IoT),
Blockchain and also hopes to support companies developing new
materials needed to make these technologies possible. The
importance of energy materials such as graphene, vanadium, lithium,
cobalt and graphite to energy production, grid storage methods and
mobile energy storage has already been identified by power and
energy utilities worldwide. In addition, the new opportunities in
data storage and secure transactions are made possible by
blockchain. IoT is also a massive trend that will introduce new
smart devices to our homes and offices. Promethieus aims to seek
and fund start-ups in these areas.
“The recent announcements of closures by General Motors of
manufacturing capacity in Ontario and the low price of oil
affecting employment in Alberta are only the start of significant
long-term economic changes. Business, government and utilities have
not prepared for this ‘tidal wave’ of change. Further, most
investors have not understood the opportunity, but we have been
researching Future Tech since 2012.” Stated A. Paul Gill, CEO of
Lomiko and VP Business Development of Promethieus Technologies.
The Boards of Promethieus and Lomiko have agreed that
Promethieus will repay Lomiko Metals $ 200,000 when funded and that
Lomiko's 20% ownership holding would not be diluted by the IPO. Mr.
Gill, currently a 42% holder of Promethieus in order to facilitate
the transaction, has acted as a Founding Director of Promethieus on
behalf of Lomiko Metals as a ‘natural person’ is required as
Founding Director. Upon completion of the IPO, Mr. Gill will be
able to transfer a portion of his shares to Lomiko to ensure the
20% threshold is maintained after any financings.
For more information on Lomiko Metals, review the website at
www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email:
info@lomiko.com.
On Behalf of the Board
“Jacqueline Michael”
Director, Chief Financial OfficerWe 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181203005308/en/
A. Paul Gill604-729-5312info@lomiko.com.
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