UPDATE ON SALE OF LOMIKO TECHNOLOGIES INC. AND PROMETHIEUS LISTING
December 13 2019 - 6:42PM
Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE:
DH8C) Lomiko Metals Inc. announced July 31, 2019 that it had
entered into an agreement to sell it’s 100% interest in Lomiko
Technologies Inc. to Promethieus Technologies Inc. (Canada) for $
1,236,625 and will be reimbursed $ 193,614.32 in expenses paid by
Lomiko Metals on behalf of Promethieus Technologies Inc.
On November 25, 2019 Lomiko Metals Inc. provided shareholders
with an update to the transaction and on December 3, 2019,
confirmed that shareholders had overwhelmingly approved the
transaction at the November 29, 2019 Annual Special General
Meeting.
The transaction was subject to (1) shareholder approval; (2)
Promethieus completing a financing; and (3) regulatory
approval. The transaction was considered a non-arms length
transaction as Mr. A. Paul Gill is a Director of all the entities
involved.
In regards to item 2 above, Promethieus has advised Lomiko that
it is in the process of an application for listing on a European
Union recognized stock exchange. The process of listing includes a
rigorous examination of the listing application and has taken
longer than expected. In recognition of this progress, both
Lomiko and Promethieus have agreed to extend the deadline for the
completion of the transaction to June 30, 2020 to allow the
transaction to complete.
For more information on Lomiko Metals, SHD Smart Home Devices or
Promethieus, review the website at www.lomiko.com,
www.shddevices.com and www.promethieus.com, or email:
info@lomiko.com.
On Behalf of the Board
“Julius Galik”
Julius Galik,
Director
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)
6047295312
apaulgill@lomiko.com
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